ADFIAP adopts the Vancouver Green Declaration

ADFIAP member-delegates attending the 33rd ADFIAP Annual Meetings in Vancouver, Canada and meeting for the 13th Extraordinary Meeting of the General Assembly, have adopted the “Vancouver Green Declaration”, with the following five pronouncements:

“THE VANCOUVER GREEN DECLARATION”

(Agreed and subscribed to by the Delegates attending the 33rd ADFIAP Annual Meetings and Conference on “Innovative Financing for a Greener Economy” hosted by the Business Development Bank of Canada (BDC) held on May 10-12, 2010 at the Westin Bayshore Hotel in Vancouver, B.C., Canada)

PREAMBLE

WHEREAS the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP), the focal point of 117 development banks and financial institutions engaged in the financing of sustainable development in 42 countries and territories, recognizes that the Association and its members, working together, need to act amidst the global call for more initiatives and investments for greener economies around the world, in general, and in the respective members’ countries, in particular, do hereby promulgate the following declarations:

Declaration No. 1

INSTITUTIONALIZING ENVIRONMENTAL GOVERNANCE AND MANAGEMENT FROM WITHIN

REALIZING that tackling environmental concerns and climate change issues starts from within, member-institutions of ADFIAP will continue with its ‘Greening of DFIs’ programme that institutionalizes policies, procedures and practices of good environmental governance through training and capacity-building programs, advocacy work and collaboration initiatives, utilizing existing best practices of members as well as adopting international norms and standards.

Declaration No. 2

INVESTING IN ENVIRONMENTAL SUSTAINABLE  PROJECTS

ACKNOWLEDGING the enormity and scope of investments needed to mitigate the dangerous effects of climate change, ADFIAP and its members will pursue and develop financing sources as well as services towards the goal of contributing their share in building greener economies in their respective areas of operation by investing in clean and renewable energy, low-carbon transportation, water and sanitation, waste treatment, green buildings and housing, sustainable agriculture and forests and other environmentally sustainable projects.

Declaration No. 3

FINANCING SMEs FOR A GREENER ECONOMY

RECOGNIZING that small and medium enterprises (SMEs) comprise the largest contributor of business activity and generator of revenues, skills and innovation in any economy, and that most DFIs are engaged in providing financial and technical assistance to SMEs, ADFIAP members will continue to explore and develop new “green financing” programs and services for SMEs, and leverage these resources for better green practices in the sector.

Declaration No. 4

INITIATING GREEN PARTNERSHIPS AND COLLABORATION

COMMITTING to the mission of ADFIAP in advancing sustainable development in members’ countries, particularly in using finance as an instrument to catalyze environmentally-responsible development, ADFIAP and its members will explore and seek public-private partnerships and collaborative undertakings in coming up with new and better ways to deal with environmental and climate change issues such as, but not limited to, energy efficiency investments, green funds and other related financing mechanisms.

Declaration No. 5

ADVOCATING FOR GROWTH STRATEGY

NOTING that the Asia-Pacific economies have opted for a “Green Growth Strategy”[1] that is based on greening business and markets, sustainable infrastructure, green tax and budget reform, investment in natural capital, and eco-efficiency through cleaner production, ADFIAP and its members will advocate for policies and strategies toward supporting, among others, relevant economic instruments, eco-tax reform, green procurement, public information disclosure, and product stewardship tools.

Adopted this 11th day of May 2010 in Vancouver, B.C., Canada


[1] Based on the United Nations Environmental Programme’s regional implementation meetings on sustainable consumption and production.