Chinabank Transitions Head Office and Binondo Business Center to 100% RE from ACEN RES

​Chinabank has switched its two main facilities to clean energy, reducing carbon emissions and promoting the development and use of renewable energy in the Philippines. 

​The bank signed a retail supply contract with ACEN Renewable Energy Solutions (ACEN RES) via the Green Energy Option Program (GEOP). Since November 26, 2024, ACEN RES has been delivering energy generated from renewable resources—solar, wind, and some geothermal—to the Chinabank Head Office in Makati City and the Binondo Business Center in Manila, with Meralco serving as the electrical distributor.

To commemorate the transition, ACEN RES awarded Chinabank with the 'Powered by Renewable Energy' seal. The changeover ceremony took place on January 21, 2025, at the Chinabank Head Office.

“As part of our sustainability initiatives, it is essential that we consider the environmental impact of our operations and actions,” Chinabank President and Chief Executive Officer Romy Uyan said. “This switch marks a significant milestone in CBC’s transition to renewable energy as we endeavor to reduce not only our carbon footprint but also contribute towards the country’s transition away from imported energy.”
 
The facilities' transition to 100% renewable energy from ACEN RES is estimated to cut Chinabank's indirect greenhouse gas emissions by over 20%, or around 3,300 metric tons of CO2 equivalent.

GEOP is a voluntary policy mechanism under the Renewable Energy Act of 2008 that aims to promote energy sustainability and increased competitiveness in the power market. The program allows electricity end customers with an average peak consumption of at least 100 kilowatts over the previous 12 months to convert to renewable energy sources and select their own renewable energy supplier. Under the GEOP, electricity end-users are provided with tax incentives.
 
Chinabank, which is committed to sustainability, was recognized by The Asset for its exceptional environmental, social, and governance (ESG) standards. TIME Magazine has also named the bank one of the World's Best Companies for 2024, based on employee happiness, revenue growth, and ESG performance.

ACEN RES is the retail branch of ACEN Corp., the Ayala Group's energy platform, with over 4,800 megawatts of attributable capacity spanning sites in the Philippines, Vietnam, Indonesia, India, and Australia.