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Manila Bulletin devider Business devider Banking & Finance devider BDO's sustainable finance framework rated as credible

BDO's sustainable finance framework rated as credible

Published Sep 3, 2024 06:20 am

BDO Unibank Inc. (BDO) reported that it has received an updated Second Party Opinion (SPO) from Morningstar Sustainalytics affirming that its Sustainable Finance Framework (SFF) is credible and impactful.

“Sustainalytics’ SPO signals that BDO is well-positioned for its sustainable bond issuances,” the bank noted.

It added that “the SPO aligns with the 2021 Sustainability Bond Guidelines and Green Bond Principles. It is also in line with the 2023 Social Bond and Loan Principles, and Green and Social Loan Principles, as well as the 2018 ASEAN Sustainability, Social and Green Bond Standards.”

Morningstar Sustainalytics is a global leader in analytical environmental, social and governance (ESG) research and ratings that provides high-quality data to the world’s leading institutional investors and corporations.

BDO expanded its board-approved SFF to include gender financing and 19 additional eligible categories under green, blue, orange and social financing that are aligned with international and local bond principles, guidelines and taxonomies, as well as the United Nations Sustainable Development Goals.

The expanded SFF will allow BDO to finance more projects with high economic, environmental and social benefits through its bond issuances, contributing to ecological sustainability, ocean, health, community development and women’s empowerment.

The bank’s previous ASEAN Sustainability Bond issuances have both set records as the largest issuance for any Philippine financial institution or company at P52.7 billion in 2022, and at P63.3 billion in January 2024.

BDO recently concluded its third ASEAN Sustainable Bond issuance last July 16, 2024 at P55.7 billion. The offer period, originally scheduled to end July 19, was cut short due to strong demand from both institutional and retail investors.

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