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Manila Bulletin devider Business devider Trade & Industry devider MUFG Philippines seals first sustainable trade finance deals

MUFG Philippines seals first sustainable trade finance deals

Published Jan 12, 2026 02:49 pm

At A Glance

  • MUFG Bank, Ltd.'s Manila branch has completed its first sustainable trade asset finance transactions in the Philippines, sealing deals with energy giants San Miguel Global Power (SMGP) and SN Aboitiz Power Magat Inc.
MUFG Bank Ltd.’s Manila branch has completed its first sustainable trade asset finance transactions in the Philippines, sealing deals with energy giants San Miguel Global Power (SMGP) and SN Aboitiz Power Magat Inc.
These pilot transactions fall under the Japanese financial giant’s sustainable trade asset finance framework, aligned with its net zero by 2050 commitment.
These come shortly after MUFG launched its sustainable trade solutions in the domestic market in November last year.
According to the Japanese lender, the deals support the country’s transition to low-carbon energy and compliance with international climate commitments.
“These transactions highlight MUFG’s ability to structure innovative trade finance solutions that embed sustainability principles while providing essential credit support for renewable energy projects,” said Belinda Han, Asia-Pacific (APAC) head of transaction banking at MUFG.
Han said MUFG will keep driving sustainable trade efforts in the region to help the lender’s clients achieve their sustainability goals.
For these transactions, MUFG issued standby letters of credit (SBLCs) in favor of the Department of Energy (DOE). These letters act as financial guarantees, ensuring that renewable energy (RE) projects awarded under the Green Energy Auction (GEA) are completed as promised.
SMGP projects cover a total of one gigawatt (GW) from floating solar and hydropower. The move supports the company’s push toward net-zero emissions by 2050 through investments in RE, battery storage, and efficiency measures.
Similarly, SN Aboitiz Power secured SBLC backing for its 50-megawatt (MW) floating solar project, marking the company’s first green trade finance deal, which also advances its sustainability efforts.
San Miguel Corp. (SMC) Chairman and Chief Executive Officer (CEO) Ramon S. Ang said the Philippines’ need for energy resources is expected to expand alongside the country’s continued growth in the coming years.
“As we invest in and build infrastructure that will serve current and future generations, the need to balance our country’s energy needs with the need to protect our environment becomes even more critical,” said Ang as he expressed gratitude toward the foreign bank.
SN Aboitiz Power Group President and CEO Joseph Yu also said the partnership with MUFG will support financing for the company’s RE projects, aiding the Philippines’ energy transition.
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