BDO Unibank Inc. (BDO) partners with International Finance Corporation (IFC) for specialized training under the Alliance for Green Commercial Banks’ (Alliance) pilot program to accelerate the green transformation of the banking and finance industry. IFC experts conducted in-depth workshops on Green Finance for MSMEs (Micro, Small, and Medium Enterprises), Transition Finance, and Impact Financing among BDO leaders and relationship managers.
The Alliance is a global initiative convened by the IFC in partnership with the Hong Kong Monetary Authority. It aims to develop a community of banks leading in green finance across various markets to accelerate the green banking transformation of financial institutions and urgently address climate change. IFC, a sister organization of the World Bank and a member of the World Bank Group, is one of the largest financiers of climate-smart projects in developing countries.
In 2023, loans deployed to Energy Efficiency projects accounted for 46.2% of BDO’s Green Finance portfolio. A significant amount funded a Public-Private Partnership for a 900MW Battery Energy Storage System (BESS) commissioned to address energy intermittency challenges in the country.
BDO continues to fulfill its commitment to finance other green initiatives including renewable energy (26.7%), clean transportation (14.7%), sustainable water and wastewater management (9.9%), pollution prevention and control (1.4%), green buildings (0.8%), and eco-efficient production technologies (0.3%).
As a pioneer in sustainable finance in the country, BDO is fully committed to reduce its carbon footprint while supporting the country’s transition by providing access to affordable, reliable, sustainable and clean energy and energy efficiency initiatives.
Photo shows (From L-R): Atty. Federico Tancongco, BDO Senior Vice President and Chief Compliance Officer; Jerome Guevarra, BDO Chief of Staff and Executive Vice President; Paul Xavier Espinosa, IFC Operations Officer on Climate and Risk Management Advisory Services and Nishantha Jayasooriya, IFC Operations Officer.
ABOUT BDO UNIBANK, INC.
BDO is a full-service universal bank which provides a wide range of corporate and retail services such as traditional loan and deposit products, treasury, trust banking, investment banking, private banking, rural banking and microfinance, cash management, leasing and finance, remittance, insurance, cash cards, credit cards, and online and non-online brokerage services.
BDO has the country’s largest distribution network, with over 1,700 consolidated operating branches and more than 5,500 ATMs nationwide. It also has 16 international offices (including full-service branches in Hong Kong and Singapore) 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 March 31, 2024. For more information, please visit www.bdo.com.ph.
