Arthaland Corp.’s P3-billion Asean Green Bond issuance, with ING acting as green structuring advisor, has been recognized as the green project deal of the year in the Philippines.
This is the second tranche of Arthaland’s P6 billion Asean Green Bond Program first launched in 2020. Substantially, all the proceeds from the bond issuance will go towards investments in new certified sustainable residential projects over the next decade.
ING was earlier involved in developing Arthaland’s first Green Finance Framework in 2019 and was responsible for reviewing the framework’s alignment with the criteria and guidelines of Green Bond Principles, Green Loan Principles and Asean Green Bond Standards.
The accolade comes as part of The Asset’s Sustainable Infrastructure Awards 2023.
Jun Palanca, country manager, ING Philippines said deals like the one the company helped close with Arthaland are significant as they represent the commitment real estate developers have towards ensuring that new developments are carried out in a sustainable manner.
“We hope that this will spark more firms into pursuing sustainable financing in the Philippines and accelerate the growth of the ESG (environment, sustainability, governance) market,” Palanca said.
Christopher Po, Arthaland director expressed hope investors see this recognition as an opportunity to get a good return on their capital, at the same time, have the satisfaction of knowing that they are investing in more sustainable projects for a better future.”
