Press Release

Supporting key industries: BDO showcases use of proceeds in the 2nd ASEAN Sustainability Bond Impact Report

BDO Unibank Inc. (BDO) released its second ASEAN Sustainability Bond Impact Report, highlighting the full allocation of its first ASEAN Sustainability Bond (ASB) in January 2022 that generated Php52.7 billion from retail and institutional investors.

The report details how the Bank allocated the bond proceeds to projects that address environmental and social challenges, following eligible categories under its comprehensive Sustainable Finance Framework.

“BDO’s 2nd ASEAN Sustainability Bond Impact Report underscores our dedication to financing projects that create measurable, meaningful, and long-term outcomes for both the environment and society. This bond reflects our commitment to fostering sustainable growth and inclusive development across various key industries for the nation,” says Atty. Federico Tancongco, Senior Vice President and Chief Compliance Officer at BDO Unibank, Inc.

Of the total proceeds, Php38.4 billion financed environmental projects aimed at mitigating climate change and promoting renewable energy. These investments supported solar and wind energy installations, which have significantly reduced greenhouse gas emissions and contributed to the Philippines’ transition to cleaner energy sources. The funds also financed energy-efficient infrastructure, such as green buildings, resulting in measurable reductions in energy consumption and promoting sustainable urban development.

Photo credits: BDO

On the social side, Php14.4 billion funded projects that enhance the quality of life for underserved communities. This included Php 8,802 million for employment generation through microfinance services, and Php 5,621 million for the agriculture, fisheries, and food security sectors which represent roughly a quarter of the nation’s workforce. 

Photo credits: BDO

The projects funded under BDO’s first ASB issuance align with the 17 United Nations Sustainable Development Goals (SDGs), particularly SDG 7 (Affordable and Clean Energy), SDG 11 (Sustainable Cities and Communities), and SDG 13 (Climate Action). By focusing on these global priorities, BDO continues to play a vital role in mobilizing capital for sustainable development in the country.

Looking ahead, BDO is committed to expanding its sustainable finance initiatives to address a broader range of environmental and social challenges. By leveraging partnerships with governments, non-government organizations, and private sector entities, the Bank aims to further accelerate the transition to a sustainable low carbon economy.

Press Release

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