PROCEEDS from BDO Unibank, Inc.’s first ASEAN sustainability bond (ASB) issuance in 2022 financed projects that aim to mitigate the impact of climate change on the country and generate employment in underserved communities, it said on Thursday.
The allocation of the P52.7 billion raised by the bank via two-year sustainability bonds issued in January 2022 was part of its second ASEAN Sustainability Bond Impact Report released recently, the listed bank said.
“BDO’s second 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,” BDO Senior Vice-President and Chief Compliance Officer Federico P. Tancongco said in a statement on Thursday.
The bank said that P38.4 billion of the total amount raised from the issue 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,” BDO said.
“The funds also financed energy-efficient infrastructure, such as green buildings, resulting in measurable reductions in energy consumption and promoting sustainable urban development.”
Meanwhile, the remaining P14.4 billion of the total went to social projects for underserved communities, BDO said.
Broken down, P8.802 billion went to microfinance services and P5.621 billion went to the agriculture, fisheries, and food security sectors.
“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,” BDO said.
“Looking ahead, BDO is committed to expanding its sustainable finance initiatives to address a broader range of environmental and social challenges. By leveraging partnerships with governments, nongovernment organizations, and private sector entities, the bank aims to further accelerate the transition to a sustainable low carbon economy.”
BDO’s net income grew by 13.26% to P21.18 billion in the third quarter of 2024. For the first nine months, its net profit went up by 12.47% to P60.62 billion.
Its shares declined by 50 centavos or 0.35% to end at P141.50 each on Thursday. — AMCS
