BDO Unibank Inc. (BDO) recently released its second Asean Sustainability Bond Impact Report, highlighting the full allocation of its first Asean Sustainability Bond (ASB) in January 2022 that generated P52.7 billion from retail and institutional investors.
The report details how the bank allocated the bond proceeds to projects that address environmental and social challenges, following eligible categories under its comprehensive Sustainable Finance Framework.
“BDO’s 2nd ASEAN Sustainability Bond Impact Report underscores our dedication to financing projects that create measurable, meaningful, and long-term outcomes for both the environment and society. This bond reflects our commitment to fostering sustainable growth and inclusive development across various key industries for the nation,” says Atty. Federico Tancongco, SVP and Chief Compliance Officer at BDO Unibank, Inc.
Of the total proceeds, P38.4 billion financed environmental projects aimed at mitigating climate change and promoting renewable energy.
These investments supported solar and wind energy installations, which have significantly reduced greenhouse gas emissions and contributed to the Philippines’ transition to cleaner energy sources.
The funds also financed energy-efficient infrastructure, such as green buildings, resulting in measurable reductions in energy consumption and promoting sustainable urban development.
On the social side, P14.4 billion funded projects that enhance the quality of life for underserved communities. This included P8.8 billion for employment generation through microfinance services, and P5.621 billion for the agriculture, fisheries, and food security sectors which represent roughly a quarter of the nation’s workforce.
The projects funded under BDO’s first ASB issuance align with the 17 United Nations Sustainable Development Goals (SDGs), particularly SDG 7 (Affordable and Clean Energy), SDG 11 (Sustainable Cities and Communities), and SDG 13 (Climate Action).
“By focusing on these global priorities, BDO continues to play a vital role in mobilizing capital for sustainable development in the country,” Tancongco said.
Looking ahead, Tangcongco said BDO is committed to expanding its sustainable finance initiatives to address a broader range of environmental and social challenges.
“By leveraging partnerships with governments, non-government organizations, and private sector entities, the bank aims to further accelerate the transition to a sustainable low carbon economy,” he said.
BDO is a full-service universal bank which provides a wide range of corporate and retail services such as loan and deposit products, treasury, trust banking, investment banking, private banking, rural banking and microfinance, cash management, leasing and finance, remittance, life ins urance, property & casualty insurance brokerage, cash cards, credit cards, and online and non-online stock brokerage services.
BDO has the country’s largest distribution network, with over 1,700 consolidated operating branches and more than 5,700 teller machines nationwide.
It also has 16 international offices in Asia, Europe, North America and the Middle East.
The bank also offers digital banking solutions to make banking easier, faster, and more secure for its clients.BDO ranked as the largest bank in terms of total assets, loans, deposits and trust funds under management based on published statements of condition as of September 30, 2024.
