At BPI, we recognize the impact that our operations can have on the environment and society. Our commitment extends to implementing an Environmental and Social Risk Management System (ESRMS)- integrating robust governance structures, policies, and tools into our day-to-day activities and core decision-making processes. The ESRMS focuses on identifying, assessing, and mitigating environmental and social (E&S) risks inherent in our operations, ensuring sustainability across our business strategies and processes. Aligned with our Sustainability Agenda, the ESRMS centers on Responsible Banking and Responsible Operations. This framework, entrenched within our Enterprise Risk Management Policy and Governance Framework, enables us to holistically manage E&S risks alongside other key risk areas.
In an effort to grow climate finance in the Philippines, the International Finance Corporation (IFC), a member of the World Bank, invested in a green bond issued by the Bank in 2023. To support IFC’s investment, we developed a specialized Environmental & Social Management System (IFC-ESMS) to cover key environmental and social risk management requirements covering the asset portfolio that are earmarked funding from IFC’s investment proceeds (Use of Proceeds). The IFC-ESMS ensures that we are utilizing the investment proceeds aligned to IFC’s prescribed environmental and social standards, and facilitates thorough due diligence of funds disbursement and ongoing management and oversight during IFC’s financing/investment period, together with capacity building and continuous improvement that further reinforces the asset portfolio’s alignment with IFC guidelines fostering responsible practices.