Security Bank aims to reduce own emissions by 2035
SECURITY Bank Corp. targets to reduce its own emissions by 62% by 2035 as part of its portfolio decarbonization push.
The bank wants to bring down Scope 1 and 2 emissions related to its operations. These cover fuel and electricity use across the bank’s network of offices and branches.
“The target is measured using an emissions intensity approach, expressed as tons of carbon dioxide equivalent per full-time employee. This ensures projected growth is accompanied by improved efficiency and lower carbon impact,” it said in a statement on Wednesday.
“For financial institutions, the majority of emissions sit in the financed portfolio. Security Bank is taking a deliberate approach. It starts with what it directly controls, while continuing to build its broader portfolio decarbonization strategy.”
It said it will ramp up initiatives on energy efficiency, renewable energy adoption, and more sustainable workplace practices.
These will go along with its efforts to strengthen data, governance, and accountability.
Security Bank Chief Financial Officer and Sustainability Committee Chairperson Allen Alexander P. Reyes said they want to reduce their own emissions while maintaining strong returns to support future resiliency and sustainability.
With the help of climate consultancy firm South Pole since 2023, the bank established an emissions baseline aligned with global standards. South Pole also evaluated a reduction plan based on the bank’s projected growth trajectory.
“Credible climate action starts with clear baselines and achievable reduction pathways,”
South Pole Climate Advisory Asia Pacific Regional Director Shruti Singh said. “We are proud to support Security Bank’s decarbonization journey focusing on implementation and measurable progress over time.”
Security Bank’s net income grew by 3% year on year to P11.63 billion in 2025 on strong revenue growth and despite higher provisioning.
Its shares dropped by 50 centavos or 0.73% to close at P68 each on Wednesday. — A.M.C. Sy
