The Asset Magazine and the Alpha Southeast Asia, two of the leading finance publications in Asia, have recognized the Bank of the Philippine Islands (BPI) as one of the most sustainable financial institutions in the region that champions market and environment sustainability through its banking activities.
In the Asset ESG Corporate Awards 2019 of the Asset Magazine, BPI was given an award for being the Highly Commended Bank in Environmental Responsibility, citing BPI’s Sustainable Energy Finance (SEF) Program, now called Sustainable Development Finance (SDF), which helps finance green projects for the private sector.
For its part, the Marquee Awards of Alpha Southeast Asia Deal & Solution Awards measured BPI’s contributions to its clients and markets that made 2019 a standout year for the Bank, making it the Best Sustainable Finance House in the country.
Jo Ann Eala, Head of BPI Sustainable Development Finance, said BPI’s programs have integrated sustainability in its clients' business models for energy efficiency, renewable energy, and climate resilience projects, harnessing its experience as the pioneer and one of the leading banks in sustainability in the Philippines since 2008.
“We are happy that our sustainable banking efforts have been recognized by industry leaders and influencers. What makes the BPI SEF Program sustainable is our clear business model and mantra to ‘turn business green to gold.’ By ensuring that sustainability projects of clients comply with IFC standards to achieve energy, water, and materials savings, as well as lower greenhouse gas (GHG) emissions, our clients are able to achieve overall project success and profitability,” said Ms. Eala.
In partnership with IFC of the World Bank Group, BPI introduced sustainable energy and climate finance in the Philippines in 2008. The bank has continued to lead in both number of projects funded and portfolio size, with 333 sustainable energy projects funded and loans reaching over Php 133 Billion as of June 2019.
BPI has recognized the fact that shifting to sustainable business practices may be perceived as costly for SMEs. It has therefore provided technical consultations and advisory services free of charge to SMEs who cannot afford to set up their own engineering teams.
“It is not enough to comply with laws and corporate social responsibility targets. It is imperative that the sustainability projects actually make money. In short, it is not enough that the project is green, it needs to yield gold. It needs to be successful and profitable to be sustainable,” Eala said.
As result of these efforts, BPI’s program has been showcased in several Green Finance, Renewable Energy, Energy Efficiency, and other Responsible Finance conferences in the Philippines and abroad. BPI belongs to the Ayala Group of Companies who has adopted sustainability in the conduct of its business—a commitment that started in the 1980s and has continued to the present.
BPI’s new Sustainable Development Finance (SDF) program expands bank’s green finance initiatives and bolsters the bank’s commitment to enable sustainable businesses in the country and contribute to the UN Sustainable Development Goals (UN SDGs). With SDF, BPI has consolidated its financing activities beyond renewable energy, energy efficiency and climate resilience and included sustainable agriculture, in response to the increasing need to adopt more efficient and climate-ready food production processes that will help the country achieve lower cost of food production as well as food security.
The Asset ESG Corporate Awards and the Alpha Southeast Asia cited BPI as one of the most sustainable financial institutions in the region, as it champions market and environment sustainability through its program in Sustainable Energy Finance (SEF), now called Sustainable Development Finance (SDF).
Monday, March 23, 2020
Award-giving bodies recognize BPI for sustainability, environmental responsibility
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Maj Villanueva
I am a Mom of Two. From a working mom for almost 10 years to a SAHM for almost 7 years and counting, Loving and enjoying every moment of it. I started to blog year 2012. This is where i first Open my first Blogsite. Everything you will read here is about my Family, Our Life activity, My Kids Milestones. I am into DIY's, affordable stuffs we can buy, a cheap ideas for Souvenirs or Giveaways. I want to share on how to make your kids dream party without spending too much. My Family loves to travel and just recently i shared our first Travel Journey outside the country. 2019 when i started to be a Mommy Blogger+Content Creator, Honestly, I never thought i would be in these field and definitely Enjoying it. I am so grateful that i can share and inspire other moms too. Any simple way would mean BIG to everyone. Year 2021 I started as a Foodie Mom. I share the food I Cook & food we recommend in my Tiktok Account. 10 years from now? I will still see myself writing and sharing what i know about Motherhood, Parenting, Food and Lifestyle. I Would love to work with you. Email for Collab: majlifeblogs@gmail.com
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