Landbank Earns Global Accolade for Clean Energy Financing

MANILA, Philippines — State-run Land Bank of the Philippines has earned international recognition for advancing the Philippines’ energy security and clean energy transition, receiving the Karlsruhe Sustainable Finance Award for Outstanding Sustainable Project Financing. The award recognized Landbank’s Sustainable Power and Energy Infrastructure Financing Portfolio, which supports large-scale renewable energy and power projects that expand clean energy capacity, strengthen grid reliability, and meet the country’s growing power requirements. “This recognition inspires us to further expand financing for projects that will shape a cleaner, more energy-secure future for the Philippines. Landbank will continue to mobilize capital for strategic investments that deliver reliable power to communities, strengthen the economy, and advance sustainable development for generations to come,” Landbank president and CEO Lynette Ortiz said. “Economic growth requires infrastructure, and infrastructure requires capital. Landbank’s participation in major solar and pumped-storage hydropower projects in the Philippines demonstrates the important role that a public financial institution can play in meeting this challenge,” International Council of Sustainability Standards for Value-Driven Financial Institutions chairman and Arshad Rab said. Landbank’s Sustainable Power and Energy Infrastructure Financing Portfolio supports key energy infrastructure projects, including the 1,400-megawatt Ahunan Power and 600-megawatt Olympia Violago pumped-storage hydroelectric plants, and the 160-megawatt Labrador Green Energy solar project. To date, LANDBANK has mobilized more than P300 billion in financing and supported over 2,000 megawatts of renewable and energy-supporting capacity, contributing to the country’s long-term energy security and sustainability goals.