PLDT Inc. Secures a P4 Billion Green Loan from Metropolitan Bank & Trust Co. (Metrobank)

PLDT Inc. (PLDT) has successfully obtained a P4 billion green loan from Metropolitan Bank & Trust Co. (Metrobank). This is the first green loan that PLDT has obtained from a local financial institution. As with its initial P1 billion green loan, the funds will be used to expand PLDT's fiber coverage across the entire nation. This will help to close the digital divide in the nation and provide a dependable and fast internet experience made possible by an energy-efficient network.

Chief Financial Officer and Chief Risk Management Officer, Danny Yu, said “PLDT’s active participation in the growing domestic market of sustainable finance is a demonstration of our adherence to global best practices in pursuit of sustainable profitability. We are encouraged by the financial community’s support of the Bangko Sentral ng Pilipinas’ advocacy for sustainable financing as we continue to explore various ways to green our operations. Our partnership with Metrobank reinforces our commitment to broaden our sustainable financing portfolio.”

PLDT's energy-efficient network relies heavily on fiber-optic technology, which uses a lot less energy than conventional copper-based infrastructure and requires less power to transmit data over great distances with no degradation. By using less energy, this lowers operating expenses and complements the PLDT Group's decarbonization program. From a 2019 baseline, the roadmap seeks to cut its Scope 1 and Scope 2 greenhouse gas emissions by 40% by 2030. Based on this ambitious goal, the group is also continually looking into how to integrate green technologies, renewable energy sources, and different resource efficiency programs.

“Securing another Green Loan facility for PLDT showcases our commitment to integrate sustainability in every facet of our operations, and underscores our holistic approach to environmental stewardship and responsible business practices. Together with the financial community’s support, we can drive more meaningful change and collectively build a sustainable future for future generations,“ said Chief Sustainability Officer, Melissa Vergel de Dios.

As of end March 2024, the company has over 1.1 million cable kilometers of fiber infrastructure, consisting of over 0.2 million cable kilometers of international fiber and over 0.9 million cable kilometers of domestic fiber supporting various internet delivery platforms including fiber fixed broadband, mobile data services, and carrier-grade WiFi.

UN SDG 9: Industry, Innovation, and Infrastructure; UN SDG 13: Climate Action; and UN SDG 17: Partnership for the Goals are all supported by the green loan for PLDT's fiber rollout.

PLDT is the Philippines’ largest integrated telco company. Through its principal business groups – from fixed line to wireless – PLDT offers a wide range of telecommunications and digital services across the Philippines’ most extensive fiber optic backbone, and fixed line and cellular networks.

​Metrobank is the country's second largest private universal bank that empowers both retail and business clients with customized financial products and services fit to help reach their goals and full potential. It has an extensive consolidated network that spans over 940 domestic branches nationwide, more than 2,300 ATMs, and above 30 foreign branches, subsidiaries, and representative offices. The Bank believes that its robust capital position and balance sheet strength will provide ample support as it navigates through uncertain times. Capital ratios are among the highest in the industry, with total CAR at 16.8% and Common Equity Tier 1 (CET1) ratio at 16.0%. Consolidated assets stood at PHP3.2 trillion at the end of March 2024, making it one of the strongest and well-capitalized banks in the country.