The New Manila International Airport (NMIA) project in Bulacan was recently presented at the 12th OECD Workshop for Financial Institutions in Paris as a case study in aligning major infrastructure developments with international environmental and social standards.
San Miguel Aerocity Inc. (SMAI), the project proponent, was invited to present NMIA before export credit agencies, commercial and development banks, development finance institutions, and environmental and social advisory firms from across the OECD’s 38 member countries.
The project was featured as a plenary case study, highlighting its alignment with the International Finance Corporation (IFC) Performance Standards and the Equator Principles—frameworks widely used by global lenders in evaluating large-scale infrastructure projects. SMAI presented alongside Atradius Dutch State Business (DSB), the project’s export credit insurer, and Earth Active, one of its independent environmental and social consultants.
SMAI said the presentation underscored NMIA’s transition from local regulatory compliance to internationally aligned environmental and social frameworks. This includes strengthened internal management systems and the implementation of biodiversity protection and social risk mitigation measures for the project’s complex coastal site, which includes critical habitats.
Participants viewed NMIA as a credible and transparent example of infrastructure development under challenging environmental and social conditions. They also cited the company’s openness in addressing early-stage challenges, its capacity-building efforts, and its adaptive management approach—particularly in biodiversity offsets and social performance.
The project was also discussed as a practical reference for lender decision-making in emerging markets, demonstrating how collaboration between project sponsors and financiers can address gaps and enhance environmental and social performance over time.
“The NMIA project is a clear example of how cooperation among financial institutions and consultants can support developers in achieving compliance with international standards. We carefully evaluated the project and decided to support it. The results show that the effort was worthwhile,” said Marije Hensen of Atradius Dutch State Business, the Dutch export credit agency.
SMAI added that flooding risks, land stability, and environmental safeguards have been central considerations in NMIA’s technical and environmental reviews from the outset. These continue to be addressed through ongoing assessment, mitigation planning, and oversight under both Philippine regulations and international lender standards.
Founded in 1961, the Paris-based Organisation for Economic Co-operation and Development (OECD) has played a key role in shaping global policies on corporate governance, sustainability, and responsible business conduct, with many of its frameworks adopted beyond member countries.
SMAI said its participation in the workshop reflects its continued engagement with the international project finance and environmental and social community, reinforcing its position as a Philippine infrastructure developer capable of operating within OECD, export credit agency, and global lender governance frameworks.