BPI, Security Bank join ‘green’ alliance
BANK of the Philippine Islands (BPI) and Security Bank Corp. have joined the International Finance Corp.’s (IFC) Alliance for Green Commercial Banks, a network that promotes sustainable finance practices across the Asia-Pacific region.
The two Philippine banks are part of the Alliance’s inaugural cohort, which consists of 20 commercial lenders representing eight markets with a combined asset base of more than $5.6 trillion.
“This inaugural cohort reflects the increasing commitment and leadership of commercial banks in green finance,” Allen Forlemu, IFC regional industry director for the Financial Institutions Group in the Asia-Pacific region, said in a statement.
“The Alliance is more than a network — it is a community of committed institutions working together to transform finance, close the multitrillion-dollar climate finance gap, and position emerging markets at the forefront of sustainable economic growth,” he added
Other members include France’s BNP Paribas; BRED Bank Cambodia; Bank Negara Indonesia; Bank Shinhan Indonesia; Banque Franco-Lao; Banque Pour Le Commerce Exterieur Lao Public; Phongsavanh Bank Limited; Thailand’s Krungsri Bank and TMBThanachart Bank; Vietnam’s HDBank, OCB, Maritime Bank, and VPBank.
The Alliance facilitates peer-to-peer knowledge-sharing, advisory support and community building among members. It aims to accelerate green banking by embedding sustainability into core strategies and supporting financing for the transition to low-carbon, climate-resilient and inclusive economies.
Through the platform, banks gain access to expertise and financing solutions for climate mitigation and adaptation, renewable energy, sustainable transport, agriculture, and urban development. The program also highlights opportunities in energy efficiency, circular economy models, and nature-based solutions.
The Alliance’s first regional chapter was launched in Asia with the Hong Kong Monetary Authority as an anchor institution. Founding cornerstone members include Bank of China (Hong Kong), Citigroup, Inc., Credit Agricole CIB, HSBC and Standard Chartered Plc.
Knowledge partners such as the Carbon Disclosure Project, CFA Institute, Convergence Blended Finance, Climate Capital Asia, Renewables Academy, and the United Nations Environment Program support the initiative by providing market insights and technical expertise. — Aaron Michael C. Sy
