BDO Teams up with IFC to Drive Green Transition

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 led comprehensive 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.

Loans made out to energy-efficient projects made up 46.2% of BDO’s green finance portfolio in 2023. A substantial sum was used to finance a public-private partnership that installed a 900 MW battery energy storage system (BESS) to solve the nation’s problems with intermittent electricity supply.

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%).

Being a leader in the nation’s sustainable finance sector, BDO is devoted to lowering its carbon footprint and assisting in the nation’s transition by making clean, affordable, sustainable, and dependable energy and energy efficiency efforts accessible.