BDO Unibank Showcases Use of Proceeds in the 2nd ASEAN Sustainability Bond Impact Report

​BDO Unibank Inc. (BDO) has issued its second ASEAN Sustainability Bond Impact Report, noting the complete allocation of its first ASEAN Sustainability Bond (ASB) in January 2022, which raised P52.7 billion from retail and institutional investors.

​The report outlines how the bank distributed bond proceeds to projects that address environmental and socioeconomic concerns, as defined by its comprehensive Sustainable Finance Framework.

Of the total proceeds, P38.4 billion financed environmental projects aimed at mitigating climate change and promoting renewable energy. These investments facilitated solar and wind energy projects, which considerably decreased greenhouse gas emissions and aided the Philippines' shift to greener energy sources. The funding also supported energy-efficient infrastructure, such as green buildings, which resulted in demonstrable energy savings and promoted sustainable urban growth.

On the social side, P14.4 billion was allocated to programs that improve the quality of life in underserved areas. This includes P8,802 million for microfinance services to create jobs, as well as P5,621 million for agriculture, fisheries, and food security, which employ about one-quarter of the country's workforce.

The projects sponsored by BDO's first ASB issue are consistent with the 17 United Nations Sustainable Development Goals (SDGs), notably SDG 7 (Affordable and Clean Energy), SDG 11 (Sustainable Cities and Communities), and SDG 13 (Climate Action). By concentrating on these global concerns, BDO is an important player in generating finance for the country's long-term growth.

“BDO’s 2nd ASEAN Sustainability Bond Impact Report underscores our dedication to financing projects that create measurable, meaningful, and long-term outcomes for both the environment and society. This bond reflects our commitment to fostering sustainable growth and inclusive development across various key industries for the nation,” says Atty. Federico Tancongco, Senior Vice President and Chief Compliance Officer at BDO Unibank, Inc.

Looking ahead, BDO intends to broaden its sustainable finance projects to address a wider spectrum of environmental and social issues. The bank intends to speed the transition to a sustainable, low-carbon economy through collaborations with governments, non-governmental organizations, and private sector companies.