The Bank of the Philippine Islands (BPI) is committed to upholding the highest standards in its environmental, social, and governance (ESG) initiatives. This commitment is evident in the 14 ESG-focused awards the bank received in 2023 from various renowned regional and local entities, surpassing the 10 received in 2022.
“We are honored to have been recognized by highly respected award-giving bodies for all that we do to push for sustainable practices across our business to help build a better Philippines – one family, one community at a time,” said Eric Luchangco, BPI Chief Sustainability Officer and Chief Finance Officer. “Through our efforts, we hope to bring more Filipinos, companies, and communities together to address environmental and social concerns, promote financial inclusion, shift to resource-efficient technologies, and champion digitalization for a more sustainable future.”
BPI was recognized as the Best Sustainable Bank in the Philippines and Biggest ESG Impact by Finance Asia Awards; Sustainable Finance Award Winner for the Philippines by Global Finance; Best Bank for ESG in the Philippines by Asiamoney; Market Leader in ESG by Euromoney Market Leaders; Sustainability Company of the Year by Asia CEO Awards; Top Sustainability Advocates in Asia by Asia Corporate Excellence & Sustainability Awards; ESG Program of the Year (Silver) by Asian Banking & Finance Retail Banking Awards; Best Sustainable Bank in the Philippines by International Business Magazine Awards; Best Digital ESG Awards by The Asset Triple A Treasurise Awards; Best House for Sustainable Treasury Solutions by the Corporate Treasurer Awards; and Best Sustainability Drive by BMAP Bank Marketing Awards.
BPI President and CEO TG Limcaoco was also recognized as the Sustainability Leader of the Year by the Nordic Sustainability Awards. The bank was likewise awarded as the Sustainability Business Partner of the Year by the same award-giving body.
A good number of BPI’s sustainability efforts have centered on green financing covering big and small projects related to Energy Efficiency, Renewable Energy, and Climate Resilience which includes Green Buildings, as well as Sustainable Agriculture. Aside from financing these activities, the bank also provides free technical consultations from International Finance Corporation’s trained and accredited consultants.
In line with its mission to help build a better Philippines, BPI continues to support small businesses, self-employed micro-entrepreneurs, and overseas Filipinos. The bank encourages savings, financial responsibility, investing, and preparing for a financially secure future.
In 2023, the bank launched innovations in digital platforms enabling the offering of BPI’s financial services to 5,189 brick-and-mortar store partners including convenience stores, gasoline stations, and remittance centers, among others. BPI also enhanced its mobile app, now providing customized banking solutions to clients based on their specific needs. BPI also launched the e’Nay app, providing tailor-fit digital solutions for sari-sari store owners such as inventory management.
BPI also launched sustainability-themed bonds and time deposits for retail and corporate investors alike in 2023. The bank raised P10 billion from Green Saver Time Deposits, wherein proceeds were used for environmentally-friendly projects. The bank also raised P20.3 billion from its Reinforcing Inclusive Support for MSMEs (RISE) Bonds, the proceeds of which supported Micro, Small, and Medium Enterprises (MSMEs) recovering from the COVID-19 pandemic. Moreover, the bank entered into a USD 250 million green financing deal with the International Finance Corporation (IFC)—the largest deal of IFC with a Philippine bank.
BanKo, BPI’s microfinance arm, also introduced a microfinance facility for small scale onion farmers which achieved a 100% repayment rate, via an innovative reward system for on-time loan repayments.
Finally, BPI also arranged two sustainability-themed transactions for sister company ACEN Corporation—a P11 billion sustainability-linked loan which the bank also helped finance, and a P25 billion perpetual green preferred shares.
