PLDT Inc. yesterday secured a P1-billion green loan facility from HSBC Philippines to support the group’s decarbonization roadmap.
In a disclosure at the stock exchange, PLDT said the loan will partially fund the ongoing nationwide modernization and expansion of its fiber network supporting internet delivery platforms, such as fiber fixed broadband, mobile data services and carrier-grade WiFi.
“The availability of sustainable financing facilities will help PLDT’s commitment to ensuring long-term profitability by doing business responsibly. We are pleased to start this journey with HSBC and anticipate further expanding our sustainable financing portfolio with other sustainability projects,” said Danny Yu, PLDT chief financial officer and chief risk management officer.
The upgrade of the network to fiber and the resultant efficient operations support the PLDT Group’s decarbonization roadmap that aims to reduce its Scope 1 and Scope 2 greenhouse gas emissions by 40 percent by 2030, coming from a 2019 baseline.
To support this ambitious target, PLDT said the group is actively exploring the integration of renewables, green technologies and various energy optimization initiatives.
“PLDT’s first-ever Green Loan facility is an affirmation that our efforts to pursue the twin goals of energy efficiency and reduced carbon emissions are appreciated and supported by the financial community. We are thankful to HSBC for helping PLDT carry out our commitment of stewardship of the planet for the next generation,” said Melissa Vergel De Dios, PLDT chief sustainability officer. – Myla Iglesias