Sustainalytics accredits BDO’s Sustainable Finance Framework
BDO Unibank, Inc.’s (BDO) Sustainable Finance Framework (SFF) has recently been given the endorsement by Sustainalytics, a leading independent Environmental, Social and Governance (ESG) research and ratings provider based in New York. Sustainalytics expressed that in their opinion “BDO’s Sustainable Finance Framework is credible and impactful, and aligns with the Sustainability Bond Guidelines in 2018, Green Loan Principles 2020, and the ASEAN Sustainability Bond Standards 2018.”
The Bank’s sustainable finance initiatives began with the establishment of the Social and Environmental Management Systems (SEMS) policy in 2010 with the assistance of the International Finance Corporation (IFC). The SEMS guidelines cover social and environmental impact assessment and risk categorization of borrowers. Further, the Bank had set up a Sustainable Finance Desk that initially focused on financing renewable energy projects and has expanded the scope to include all forms of sustainable practices including energy efficiency, climate-smart agriculture, green infrastructure, and clean transportation.
BDO’s SFF is in line with the United Nations Social Development Goals (UN SGDs), and focuses on five (5) key strategies, namely: Product Sustainability, Sustainability Contribution, Human Capital Sustainability, Disaster Response Sustainability, and Governance-based Sustainability.
This strengthens the Bank’s support for targeted and responsible projects that facilitate climate resilience and promote inclusive economic growth.
BDO is a full-service universal bank which provides a wide range of corporate and retail banking services. These services include traditional loan and deposit products, as well as treasury, trust banking, investment banking, private banking, rural banking, cash management, leasing and finance, remittance, insurance, retail cash cards and credit card services.
BDO has one of the largest distribution networks, with more than 1,400 consolidated operating branches and over 4,400 ATMs nationwide. It also has full-service branches in Hong Kong and Singapore as well as 14 overseas remittance and representative offices in Asia, Europe, North America and the Middle East.
BDO ranked as the largest bank in terms of total assets, loans, deposits and trust funds under management based on published statements of condition as of September 30, 2020. For more information, please visit www.bdo.com.ph.
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