BDO advances sustainable finance

BDO Unibank Inc., the country’s largest bank controlled by the Sy family, said Wednesday it accelerated efforts in sustainable finance to help achieve the impactful global activities of the private and public sectors that would cushion the destructive effects of climate change.

BDO vice president for sustainability Marla Garin-Alvarez said in a statement the bank practiced sustainability in its business operations to achieve stability and resilience in the financial value chain.

“We recognize that a strong foundation for inclusive economies and a sustainable future is having a robust banking system which provides multiple ways to promote positive environmental and social impact, “Garin-Alvarez said.

“This is why our sustainability framework is focused on resilience and embeds ESG in everything that we do as a bank,” she said.

BDO was among the pioneers of promoting renewable energy and energy efficiency project financing by putting together a risk-based Sustainable Energy Finance Program in partnership with the International Finance Corp., the private banking arm of the World Bank, in 2010.