BDO UNIBANK Inc. (BDO) received the Sustainable Finance Initiative of the Year Award at the 2023 Asian Banking & Finance Wholesale Banking Awards in Singapore. BDO’s unwavering commitment to Sustainable Finance was recognized as the Bank financed groundbreaking renewable energy projects, pioneered innovative funding channels, forged sustainable partnerships with international financial institutions, and integrated Environmental, Social and Governance (ESG) in funding projects.
BDO recognizes the critical role of financial institutions in managing their environmental and social risks and financing the country’s transition to a low-carbon economy. Since 2010, BDO has financed a mix of 55 renewable energy projects for wind, solar, geothermal, hydro, and biomass energy sources accounting for 2,230 megawatts of total installed renewable energy capacity nationwide.
BDO pioneered the issuance of the first Green Bond in the East Asia and Pacific region in 2017, which was earmarked for renewable energy, energy efficiency, and green building projects. With the International Finance Corporation (IFC) as the sole anchor investor, it was the first for banks and a landmark transaction in the country that catalyzed financing eligible renewable energy projects. IFC was also the sole investor when BDO issued the first Blue Bond in Southeast Asia in 2022 for funding water and wastewater management projects along with offshore wind projects at sea.
“This recognition is a testament to the Bank’s commitment to sustainability. Sustainability principles are ingrained in the way we conduct business and in everything that we do,” said Nestor V. Tan, president and CEO of BDO Unibank.
The Bank continues to expand its Sustainable Finance initiatives, in place since 2010, towards funding new and existing renewable energy projects to increase their capacity and support the country’s Nationally Determined Contributions to the 2015 Paris Agreement that aims to reduce 75% of the country’s greenhouse gas (GHG) emissions by 2030.
The Asian Banking & Finance (ABF) Wholesale Banking Awards recognize financial institutions for their outstanding performance in demonstrating leadership and exceptional customer service. The judges also assess the wholesale banks’ unique and innovative initiatives and cutting-edge deals, their impact on clients’ businesses, and their significant contributions to the industry.
BDO is the country’s largest bank in terms of total assets, loans, deposits and trust funds under management. The Bank has the country’s largest distribution network, with over 1,600 consolidated operating branches and more than 4,700 ATMs nationwide, with 16 international offices in Asia, Europe, North America, and the Middle East. The Bank also offers extensive digital banking solutions to make banking easier, faster, and more secure for its clients.
Apart from the Asian Banking & Finance Awards, BDO received a Platinum Award for Excellence in Environmental, Social and Governance (ESG) and Best Sustainability Bond for Financial Institution in the Philippines at the recent Asset Awards. BDO also won the Best Advance in Sustainability Practices Award at the Retail Banker International Asia Trailblazer Awards. For the second consecutive year, BDO was named Top Sustainability Advocate in Asia and Industry Champion of the Year at the 2022 Asia Corporate Excellence & Sustainability (ACES) Awards.
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