As part of the Bank’s strengthened commitment to sustainability, BPI has also established a centralized exclusion list cascaded across the Bank in 2023 to guide its financing activities. In 2024, BPI further expanded and enhanced its exclusion list.
BPI’s exclusion list reflects principles and standards espoused by the International Finance Corporation of the World Bank Group.
To ensure adherence to Philippine regulations, BPI further enhanced its exclusion list by specifying the national and industry-specific laws affecting the negatively tagged sectors.
- Involvement or having direct relation with the production or trade in any product or activity deemed illegal or unlawful under host country laws or regulations or international conventions and agreements
- Any business activity and/or sector prohibited under the Bank’s MTPP policy
- Production or trade in arms and ammunitions, as blacklisted in the Bank’s MTPP
- Production or trade of nuclear materials, processes, and devices deemed illegal
- Gambling, casinos, and equivalent enterprises as provided under the Bank’s MTPP policy and any amendments or revisions thereto approved by the Bank’s Board of Directors
- Any business related to pornography and/or prostitution
- Production or activities involving child labor, as deemed illegal under the Special Protection of Children Against Abuse, Exploitation, and Discrimination Act (RA 7610, as amended by RA 9231)
- Production or activities involving harmful or exploitative forms of forced labor (including human trafficking), as covered by the Labor Code of the Philippines and the Anti-Trafficking in Persons Act of 2003 (RA 9208, as amended by RA 10364)
- Production or trade in radioactive materials, excluding those with a duly authorized Radioactive Materials License and/or License to Operate, as applicable, from the Philippine Nuclear Research Institute (PNRI)
- Production or trade in or use of unbonded asbestos fibers, as deemed illegal under the Chemical Control Order for Asbestos (DENR Administrative Order No. 2000-02)
- Production or trade in illegal pharmaceuticals subject to international phase outs or bans
- Production or trade in illegal pesticides / herbicides subject to international phase outs or bans
- Production or trade in ozone depleting substances subject to international phase out, and as deemed illegal under the Revised Regulations on the Chemical Control Order for Ozone Depleting Substances (ODS) (DENR Administrative Order No. 2013-25)
- Production or trade in products containing Polychlorinated Biphenyls (PCBs), as deemed illegal under the Chemical Control Order for Polychlorinated Biphenyls (DENR Administrative Order No. 2004-01)
- Trade in wildlife or wildlife products regulated under the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES), as deemed illegal under the Wildlife Resources Conservation and Protection Act (RA 9147)
- Drift net fishing in the marine environment deemed illegal under the Philippine Fisheries Code of 1998 (RA 8550, as amended by RA 10654), as augmented by Fisheries Administrative Order No. 155 and the Fisheries Administrative Order Series of 2022
- Purchase of logging equipment for use in protected areas1
- Commercial logging operations in protected areas1
- Production or trade in wood or other forestry products from protected areas1
- Greenfield coal power generation2
- Diesel-fired power generation plants for applications where diesel is the primary source of energy, except projects aimed at missionary electrification3
- Mining, processing, and refining of oil sands or tar sands
- Mining, processing, and refining of Arctic oil
- Mining, processing, and refining of fracked shale oil
1This refers to protected areas, as cited under the Expanded National Integrated Protected Areas System (E-NIPAS)
2Part of BPI’s existing Coal Phase-out Policy
3Missionary Electrification refers to the provision of basic electricity service in unviable areas with the ultimate aim of bringing the operations of these areas to viability levels, as stated in RA 10531
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