The Asian Institute of Management Gov. Jose B. Fernandez, Jr. Center for Sustainable Finance (AIM-JBF Center) unveiled the findings of its latest study, Implementing Sustainable Finance in the Philippines and Indonesia, during a webinar held on 05 December 2024. The study, conducted with support from Fair Finance Philippines (FFPh) through the Initiatives for Dialogue & Empowerment through Alternative Legal Services, Inc. (IDEALS), attracted 60 participants, including representatives from rural banks, academia, and civil society organizations.
This study addresses the growing emphasis on environmental, social, and governance considerations within financial institutions and the increasing importance of sustainable finance in the banking sector. It underscores the role of rural banks as key drivers of financial inclusion, community welfare, and rural economic growth. The research offers profound understanding  into best practices and innovative approaches for implementing sustainable finance, which rural banks can adapt and scale up. 
Professor Felipe O. Calderon, CPA, CMA, PhD, Executive Director of AIM-JBF Center, presented the study’s findings and recommendations. His presentation was followed by an engaging panel discussion and Q&A session featuring Bernadette Victorio, Regional Program Lead of Fair Finance Asia; Herni Ramdlaningrum, Program Manager of Policy Advocacy and Research Institute (PRAKARSA), Indonesia; and Wilhemino “Sonny” R. Mendoza, President and CEO of SouthBank (A Rural Bank), Inc. The event concluded with closing remarks from Dr. Genalyn Aquino-Arcayera, Program Manager of Fair Finance Philippines.
Building upon these findings, the panel discussion highlighted several key considerations. Capacity building emerged as a critical need to equip rural banks with the knowledge and tools to effectively integrate sustainable finance principles and align with global standards. While rural banks are well-positioned to support community projects and lead sustainability in rural economies, the panel emphasized the need for greater government support, stronger regulatory frameworks, and increased collaboration among rural banks to scale up their efforts. The discussion also focused on the importance of transparency and accountability in sustainability disclosures, as well as leveraging digitalization to advance sustainable finance initiatives.  
The Asian Institute of Management Gov. Jose B. Fernandez, Jr. Center for Sustainable Finance (AIM-JBF Center) is a premier research institution dedicated to advancing sustainable finance. Through its work on environmental, social and governance (ESG) integration, impact investing, and climate finance, the AIM-JBF Center bridges the gap between finance and sustainability, driving environmentally and socially responsible practices to build a resilient global financial system.
Learn more: Access the full study here and watch the webinar recording: https://go.aim.edu/1g-