The World Wildlife Fund (WWF) Philippines commended the Bank of the Philippine Islands (BPI) for its contributions to environment conservation and sustainability during the recent WWF Partners’ Night at Raffles, Fairmont Hotel in Makati City.
WWF Philippines conferred the WWF Climate Support Award to BPI Foundation, the social innovation arm of the Bank, for its Agriclima program. The program introduced farmers in Negros to climate-smart agriculture practices to reduce the environmental impact of agricultural production.
Furthermore, BPI also bagged the WWF Sustainability Trailblazer Award for being one of the first Philippine banks to raise green bonds with the issuance of a USD 300 million Senior Unsecured Fixed Rate bond and a CHF 100 million bond to fund projects related to energy efficiency, renewable energy, agribusiness, as well as green buildings.
“We are very honored to receive these awards. BPI strives to be in the forefront of sustainability initiatives. We want to create shared value for the benefit of Filipinos today and tomorrow,” said BPI President and CEO Cezar P. Consing.
In June 2019, BPI established its Green Finance Framework to highlight its long-standing commitment to fund projects with clear environmental benefits. The Framework provides guidelines on evaluation and selection of eligible projects, management of proceeds, and reporting.
BPI’s Green Finance Framework is aligned with the International Capital Market Association Green Bond Principles, the ASEAN Green Bond Standards, and the Loan Market Association Green Loan Principles.
Green bonds and green loans pursuant to the Framework will further bolster this figure, in addition to financing projects in sustainable water and wastewater management, pollution prevention and control, and green buildings.
Also recently, BPI Foundation received an Outstanding Achievement in Advocacy Marketing Award for its flagship programs: BPI Sinag, BPI DOST Science Awards, and Arts Education during the recently held 39th Agora Awards.
