AfE 2024
BDO Unibank has worked on sustainable finance in the Philippines since 2010.
It financed a total of P898 billion ($15.4 billion) of sustainable projects in 2023, including 59 largescale renewable energy projects with a total energy install capacity of over 2,300 megwatts. In total, the deals added approximately 25% to the Philippines’ renewable energy capacity and offset 4.4 million tonnes of carbon dioxide per year.
Loans deployed to energy efficiency projects accounted for 46% of the bank’s green finance portfolio. It stopped financing new coal projects in 2019 and will limit its coal exposure in the lending portfolio to no more than 2% by 2033.
In July 2023, BDO Unibank and the Landbank of the Philippines jointly arranged the first gender bond in the country, a P5 billion issue for ASA Philippines Foundation. The lending programme specifically targets women in the lower income sector engaged in microenterprises as principal borrowers.
BDO’s Affordable Basic Infrastructure portfolio accounted for 87% of its social financing. Over P67.4 billion in loans funded social projects under the programme.