Gov. Jose B. Fernandez, Jr. Center for Sustainable Finance

The Center for Sustainable Finance

The Jose B. Fernandez, Jr. Center for Sustainable Finance focuses on providing venues for research and discussion of issues in the banking and financial services industry, as well as strategies to improve competence among Asian financial managers. It also facilitates beneficial alliances among business institutions in the region. 

The Center conducts research on wealth management and sustainable finance to help Asian financial managers reconcile economic performance with social and environmental impact. It also collaborates with professional associations and, with the help of its partners, hosts academic events, conferences, and training sessions for key certification requirements.

The Objectives of the JBF Center are:

  • to conduct research on policy issues that affect the banking industry and other allied services in the financial and capital markets in the Philippines and the Asia-Pacific region,
  • to train and develop competent managers for the banking and financial services industries in the region,
  • to promote the forging of beneficial business alliances in the region and
  • to provide a forum for the discussion of important issues affecting the banking and finance sectors.

Our Benefactor

Jose "Jobo" B. Fernandez, Jr., former Philippine Central Bank Governor, was a pillar of strength, and an acknowledged leader in the private commercial banking sector.

It had always been Jobo's dream to establish his own bank. He wanted to organize a bank whose ownership was diversified. During those days, local private banks, including PBC, were all family-owned and managed. In 1959, with the encouragement of his friend, Washington SyCip, Jobo took the risk of organizing a truly professional bank, giving birth to the Far East Bank and Trust Company (FEBTC). He was, at 36, the country's youngest bank president.

He was President of the Bankers Association of the Philippines (BAP) for three years and was regularly invited to attend annual meetings of the International Monetary Fund (IMF) and the International Bank for Reconstruction and Development of the World Bank. He was also one of the pioneers in the establishment of the Pacific Basin Economic Council (PBEC) in 1967. PBEC is an international forum that foreshadowed the establishment of the Asia-Pacific Economic Cooperation Council (APEC). As an industry leader, one of his enduring legacies is his immense contribution to the training of competent managers in the Philippine banking and financial service sectors.

Executive Director

Dr. Felipe O. Calderon Profile


Implementing Sustainability in the Philippine Banking and Corporate Sectors

The AIM – Gov. Jose B. Fernandez, Jr. Center for Sustainable Finance (JBF Center) was commissioned by Initiatives for Dialogue and Empowerment through Alternative Legal Services (IDEALS, Inc.) with funding from the Swedish Embassy in Bangkok through the Fair Finance Asia Philippines project to conduct a study on Implementing Sustainability in the Philippine Banking and Corporate Sectors.

IDEALS, Inc. provides development consulting and addresses the legal needs of marginalized, disempowered, and vulnerable groups, particularly agrarian reform beneficiaries, farmer-traders, and the migrants sector.

Fair Finance Asia is an Oxfam initiative with a regional network of 25 Asian civil society organizations committed to ensuring that financial institutions’ funding decisions in the region respect the social and environmental well-being of local communities.

The study identifies the opportunities and challenges in implementing sustainable business practices within the corporate world. It also explores the different sustainable finance opportunities and challenges experienced by the Philippine banking sector and investigates the level of implementation of integrating sustainable finance into banking operations.

To present the findings of the study and to facilitate a meaningful discussion on the topic, the JBF Center hosted a webinar last November 10 that was attended by 98 participants from local commercial, rural and thrift banks, SMEs, corporations, government, and the academe.

The findings of the study were presented by Maria Angela Zafra, DBA (Adjunct Faculty, Ateneo de Davao University) and Wilfred S. Manuela, PhD (Associate Professor, Asian Institute of Management).

The presentation of the research study findings was followed by a panel discussion moderated by Felipe O. Calderon, CPA, CMA, PhD, Executive Director of the JBF Center. The panel included: Agnes de Jesus, Chief Sustainability Officer of First Philippine Holdings Corporation; Raymund Vincent Aaron, the Banana Chief of Villa Socorro Farm; Ryan Joseph Larobis, Commercial Banker; and Bernadette Victorio, Regional Program Lead of Fair Finance Asia.

The webinar concluded with a Q&A wherein questions such as how the sustainable finance market in the Philippines compare to other ASEAN countries and how banks can assist in the streamlining of ESG in the corporate sector were addressed.

To watch the webinar, copy paste the link to your browser:

To download the paper, please click here.


Financing and Valuation of Ecosystem-based Adaptation

The Gov. Jose B. Fernandez, Jr. Center for Sustainable Finance (JBF Center), commissioned by Earth Security and funded by the International Climate Initiative of the German Federal Ministry for the Environment, Nature Conservation and Nuclear Safety, recently completed a report on The Financial and Economic Case for Ecosystem-based Adaptation (EbA) in the Philippines. This report provides an overview of financing EbA projects to help the banking and finance community appreciate the value of ecosystems and their role in mitigating the risks and negative impacts of climate change through EbA, which may result in more resilient businesses and communities. 

To share the findings of the study and to facilitate a meaningful discussion on the topic, the JBF Center and Earth Security will be conducting a webinar:

Financing and Valuation of Ecosystem-based Adaptation in the Philippines
August 18, 2021, Wednesday
3:00 pm – 5:00 pm

During the webinar, the report will be presented by Maria Angela G. Zafra, DBA, Wilfred S. Manuela Jr., PhD, and Felipe O. Calderon, CPA, CMA, PhD.

The presentation will be followed by a panel discussion to be moderated by Felipe O. Calderon, CPA, CMA, PhD with the following panelists: Paul D. Lazaro, Senior Vice President of Development Bank of the Philippines; Jo Ann B. Eala, Vice President of Bank of the Philippine Islands; Lyn Javier, Managing Director for Policy and Specialized Supervision of Bangko Sentral ng Pilipinas; Alfredo Coro II, Vice Mayor of Del Carmen, Surigao del Norte; and Alejandro Litovksy, Chief Executive Officer of Earth Security. 

All participants will receive an e-copy of the condensed version of the report—a primer on Operationalizing Sustainable Finance for Ecosystem-Based Adaptation Projects and a handbook on Financing and Valuating Ecosystem-based Adaptation in the Philippines. The primer provides a step-by-step guide for bankers, to help them operationalize the financing of EbA projects. The handbook gives an overview of private financing options for EbA projects, investigates current practices of financing EbA projects, identifies potential factors that enable or hinder Philippine banks and financial institutions from offering financing for EbA projects, and examines the economic valuation of EbA projects and recommends policy options for the government and other stakeholders. 

Download the Primer here.

To register, please click here.

Download the Handbook here

For more information, please email JBF Center Research Manager, Jannie Gracelyn A. Sumague at

Assessment of the Asset Management Industry in the Philippines: The Case of the Mutual Fund Sector

Download the Mutual Funds paper here.

Fair Finance Asia welcomes Prof. Felipe O. Calderon as Advisory Committee member

Webinar on Sustainable Finance and Economy: Prospects and Challenges with Kalpa Academy Center for Governance and Sustainable Development
22 August 2020

Webinar details

Assessment of the Asset Management Industry in the Philippines: The Case of the Unit Investment Trust Fund (UITF) Sector.pdf

Marlon Young

Developing and Growing the Business Family Segment: A Forum for Private Bank and Wealth Management Executives

Dr. Felipe O. Calderon

The University of the Philippines Los Baños (UPLB) College of Economics and Management (CEM) selected Dr. Felipe O. Calderon as one of its 100 Outstanding Alumni Awardees in celebration of CEM’s 100th Founding Anniversary on July 19, 2019.

Dr. Calderon was also selected by the University of the Philippines Los Baños Alumni Association, Inc. as one of its 2019 College Distinguished Alumni Awardees. 

Dr. Calderon was chosen for the two Alumnus awards “For his exemplary accomplishments in the field of sustainable banking and finance; for his unwavering passion and efforts to synergize his extensive experience in banking to academe and research; and for championing the value of sustainability in schools around the world by equipping  today’s business students with the understanding and ability to deliver change for tomorrow.”


Gov. Jose B. Fernandez, Jr. Center for Sustainable Finance

Felipe O. Calderon, CPA, CMA, PhD
Executive Director
Tel: +63 2 8892-4011 Ext. 2893

Jannie Gracelyn A. Sumague
Research Manager
Tel +63 2 8892-4011 Ext. 2622

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