BDO Unibank Inc. (BDO) was honored with the Sustainable Finance Initiative of the Year Award at the 2023 Asian Banking & Finance Wholesale Banking Awards in Singapore. BDO received this recognition for its strong commitment to sustainable finance. The bank supported groundbreaking renewable energy projects, introduced innovative funding methods, established sustainable partnerships with international financial institutions, and integrated Environmental, Social, and Governance (ESG) principles into its funding projects.
BDO acknowledges the crucial role financial institutions play in managing environmental and social risks and financing the shift to a low-carbon economy in the country. Since 2010, BDO has financed a total of 55 renewable energy projects, including wind, solar, geothermal, hydro, and biomass energy sources. These projects amount to a significant 2,230 megawatts of renewable energy capacity nationwide.
In 2017, BDO made history by issuing the first-ever Green Bond in the East Asia and Pacific region. This bond was earmarked for renewable energy, energy efficiency, and green building projects. The International Finance Corporation (IFC) served as the sole anchor investor, making it a groundbreaking transaction that kick-started funding for eligible renewable energy projects. In 2022, BDO once again partnered with IFC to issue the first Blue Bond in Southeast Asia. This bond was dedicated to funding water and wastewater management projects, as well as offshore wind projects at sea.
Nestor V. Tan, President and CEO of BDO Unibank, emphasized the bank’s unwavering commitment to sustainability, stating, “Sustainability principles are ingrained in the way we conduct business and in everything that we do.”
BDO is actively expanding its Sustainable Finance initiatives, which have been in place since 2010. These initiatives aim to provide funding for new and existing renewable energy projects to increase their capacity. Additionally, they support the country’s efforts to achieve its goals under the 2015 Paris Agreement, which includes reducing 75% of the country’s greenhouse gas (GHG) emissions by 2030.
The Asian Banking & Finance (ABF) Wholesale Banking Awards recognize financial institutions for their exceptional performance, leadership, and outstanding customer service. The judging panel also evaluates the banks’ unique and innovative initiatives, as well as their significant contributions to the industry and their impact on clients’ businesses.
BDO stands as the largest bank in the country in terms of total assets, loans, deposits, and trust funds under management. The bank boasts an extensive distribution network, with over 1,600 consolidated operating branches and more than 4,700 ATMs nationwide. Additionally, BDO has 16 international offices across Asia, Europe, North America, and the Middle East. The bank offers a wide range of digital banking solutions to make banking more accessible, faster, and more secure for its clients.
In addition to the Asian Banking & Finance Awards, BDO has received several other notable accolades, including the Platinum Award for Excellence in Environmental, Social, and Governance (ESG) and the Best Sustainability Bond for Financial Institution in the Philippines at the recent Asset Awards. BDO was also recognized with the Best Advance in Sustainability Practices Award at the Retail Banker International Asia Trailblazer Awards. For the second consecutive year, BDO was named the Top Sustainability Advocate in Asia and Industry Champion of the Year at the 2022 Asia Corporate Excellence & Sustainability (ACES) Awards.