BDO Unibank, Inc. (BDO) has ramped up its sustainable finance activities to help achieve the private and public sectors’ impactful global activities that would cushion the destructive effects of climate change.

According to BDO Vice President for Sustainability Marla Garin-Alvarez, the Bank has long practiced sustainability in its business operations to achieve stability and resilience in the financial value chain as part of its Environmental, Social and Governance (ESG) journey.

“We recognize that a strong foundation for inclusive economies and a sustainable future is having a robust banking system which provides multiple ways to promote positive environmental and social impact,” she said.

Alvarez added that, “This is why our sustainability framework is focused on resilience and embeds ESG in everything that we do as a bank.”

In 2010, BDO was among the pioneers of promoting renewable energy and energy efficiency project financing by putting together a risk-based Sustainable Energy Finance Program in partnership with the International Finance Corporation, the private banking arm of the World Bank.

In 2017, BDO was also the first to offer a green bond in the financial industry in the country and in the East Asia Pacific. This provided US$150 million to seven renewable energy projects which have since been expanded to 50 renewable projects nationwide.

In over a decade of pursuing Sustainable Finance, BDO has financed up to 2,184 megawatts of the country’s total installed renewable energy capacity as part of its support to the Philippine Development Plan 2017-2040 which aims to reduce 70 percent of the Philippines’ greenhouse gas (GHG) emissions by 2030.

As one of its earliest flagship projects to provide renewable energy in the country, BDO provided the project finance structure and co-financed Alternergy Wind One Corporation’s wind farm in Pililia, Rizal.

Over the years, BDO’s Sustainable Finance Desk has expanded its scope to include energy efficiency, climate-smart agriculture, green infrastructure, and clean transportation.

“BDO recognizes its critical role in contributing to a lower carbon economy through its financial resources, extensive operations and network. We are committed to promote environmentally-sound and climate-resilient practices to support our customers, communities, and the country,” said Garin-Alvarez.

Recently, BDO’s Sustainable Finance Framework was endorsed by Sustainalytics, a leading independent ESG research and ratings provider in New York which makes the Bank-well positioned to issue sustainable finance instruments.