BDO Partners with IFC: Fueling the Green Banking Revolution in the Philippines

BDO Unibank Inc. (BDO) has partnered with the International Finance Corporation (IFC) to advance green finance in the Philippines. This collaboration is part of the Alliance for Green Commercial Banks, a global initiative led by IFC and the Hong Kong Monetary Authority. The aim is to build a network of financial institutions committed to accelerating the green transformation of banking and urgently addressing climate change.

As part of this partnership, IFC experts conducted workshops focused on Green Finance for MSMEs, Transition Finance, and Impact Financing. These training sessions were designed to equip BDO leaders and relationship managers with the knowledge and skills needed to support sustainable initiatives.

In 2023, BDO’s green finance portfolio saw significant growth. Around 46.2% of their funds were allocated to energy efficiency projects, including a major 900MW Battery Energy Storage System (BESS) project aimed at addressing energy supply challenges in the country. Other focus areas included renewable energy (26.7%), clean transportation (14.7%), and sustainable water and wastewater management (9.9%).

BDO’s commitment to sustainability extends beyond just financing. The bank is a key player in the country’s transition to clean energy by supporting projects that contribute to affordable, reliable, and eco-friendly solutions. Through this partnership, BDO is better positioned to empower Micro, Small, and Medium Enterprises (MSMEs) and drive the growth of green finance in the Philippines.

As the world faces the urgent challenges of climate change, collaborations like the BDO-IFC partnership highlight the vital role financial institutions play in shaping a more sustainable future.

The BDO-IFC partnership is a critical step in promoting green finance in the Philippines. By focusing on sustainable finance for MSMEs and supporting key environmental projects, BDO is leading the way in building a greener financial sector.

Photo shows (From L-R): Atty. Federico Tancongco, BDO Senior Vice President and Chief Compliance Officer; Jerome Guevarra, BDO Chief of Staff and Executive Vice President; Paul Xavier Espinosa, IFC Operations Officer on Climate and Risk Management Advisory Services and Nishantha Jayasooriya, IFC Operations Officer.