BDO taps IFC to provide green finance training
BDO Unibank, Inc. partnered with the International Finance Corp. (IFC) to provide specialized training through the Alliance for Green Commercial Banks’ (Alliance) pilot program, which aims to accelerate the banking industry’s green transformation.
The Alliance is a global initiative that aims to develop a community of banks that will lead green finance across various markets to accelerate the green banking transformation of financial institutions and address climate change, BDO said in a statement on Thursday.
“IFC, a sister organization of the World Bank and a member of the World Bank Group, is one of the largest financiers of climate-smart projects in developing countries,” BDO said.
Under the partnership, IFC conducted workshops for BDO’s leaders and relationship managers on green finance for micro, small, and medium enterprises, transition finance, and impact financing.
The Sy-led bank said that last year, loans disbursed for energy efficiency projects accounted for 46.2% of its green finance portfolio.
The lender also continues to finance other green initiatives, including renewable energy (26.7%), clean transportation (14.7%), sustainable water and wastewater management (9.9%), pollution prevention and control (1.4%), green buildings (0.8%), and eco-efficient production technologies (0.3%).
“As a pioneer in sustainable finance in the country, BDO is fully committed to reduce its carbon footprint while supporting the country’s transition by providing access to affordable, reliable, sustainable and clean energy and energy efficiency initiatives,” the listed bank said.
BDO saw its net profit rise by 11.98% year on year to P20.94 billion in the second quarter amid continued growth in its core businesses and higher fee income. — AMCS
