Pioneering Sustainability Initiatives

BPI has reaped multiple achievements in the field of sustainability over the years, as further augmented by the implementation of the Bank’s Sustainability Agenda.

 

Comprising of industry-first products and services, as well as innovations on the environmental sustainability of the Bank’s operations, we list below BPI’s key sustainability achievements: 

Pioneering InitiativeDescription
Coal Phase-Out PolicyFirst time-bound commitment in the Philippines to zero out coal power generation exposure. 
EDGE Certification of BPI Branches

First Philippine bank branch to earn an IFC-EDGE Green Building certification. 

 

2022 EDGE-Certified Green Bank Branches

  • Iloilo Solis 
  • Loyola Katipunan
  • Guiguinto 
  • San Fernando Highway Main
  • North Greenhills 

 

2023 EDGE-Certified Green Bank Branches

  • Forbes Park 
  • Agoo La Union
  • Bicutan 
  • Iloilo Jaro McArthur
Energy Transition Finance Facility (ETFF) First financing project in the world to repurpose coal-fired power plants to renewable energy facilities.
Environmental Risk Assessment (ERA)First in the Philippine banking industry wherein bank, employee, and client assets and/or collaterals are mapped vis-à-vis natural hazards such as earthquakes, typhoons, flooding, and volcanic eruptions.
Green and Social Bond Public Offerings

First negative yielding bond in Southeast Asia (4X oversubscribed).

 

First COVID Action Response Bonds by a Philippine bank (7X oversubscribed).

Mandatory 10% Sustainability KRAs and Sustainability TrainingFirst Philippine bank to mandate a 10% minimum KRA allocation to sustainability and a sustainability training course for all employees.
Sustainable Development Finance (SDF) ProgramFirst financing program in the Philippines for renewable energy, energy efficiency, climate resilience, and sustainable agriculture (formerly known as the Sustainable Energy Finance Program).
ESG Ratings

BPI has been a member of the FTSE4Good Index Series, a series of benchmark and tradable indexes for ESG investors, since 2020 until their latest assessment in June 2023¹.

BPI is also the ONLY Philippine bank to participate in the 2021 CDP Pilot Questionnaire on Climate and Forests, and one of the first banks in the region to disclose on our forest impacts. Through the awareness provided by this pilot engagement, BPI was able to enhance its existing climate- and forest-related strategies and policies, including criteria for sensitive sectors. BPI continued to participate in the 2022 CDP Climate Change Questionnaire and garnered a score of ‘C’, the HIGHEST among Philippine banks.

 

BPI’s continues to garner higher ESG ratings vs its peers across various rating agencies, albeit the Bank is not at liberty to disclose its comparative rankings.

 

 

Sustainability accolades

2023

14 ESG-related awards
  • Sustainability Company of the Year Circle of Excellence, Asia CEO Awards 2023 (2nd consecutive recognition)
  • Top Sustainability Advocates in Asia, Asia Corporate Excellence & Sustainability (ACES) Awards 2023 (2nd consecutive recognition)
  • Best Bank for ESG in the Philippines, Asiamoney Best Bank Awards 2023
  • ESG Program of the Year – Silver, Asian Banking & Finance Retail Banking Awards 2023
  • Best Sustainability Drive, 5th Bank Marketing Awards (by the Bank Marketing Association of the Philippines)
  • Best House for Sustainable Treasury Solutions, Corporate Treasurer Awards 2023
  • Market Leader in Environmental, Social, and Governance (ESG), EuroMoney Market Leaders (2nd consecutive year)
  • Best Sustainable Bank in the Philippines, Finance Asia Awards 2023 (4th consecutive recognition)
  • Biggest ESG Impact in the Philippines, Finance Asia Awards 2023
  • Sustainable Finance Awards Winner for the Philippines, Global Finance (2nd consecutive recognition)
  • Best Sustainable Bank in the Philippines, International Business Magazine Awards 2023 (2nd consecutive recognition)
  • Sustainability Business Partner of the Year, Nordic Sustainability Awards
  • Sustainability Leader of the Year (award given to BPI President and CEO Mr. Jose Teodoro Limcaoco), Nordic Sustainability Awards
  • Best Digital ESG Awards, The Asset Triple A Treasurise Awards

 

2022

10 ESG-related awards
  • Best Bank for Sustainable Finance – Domestic, Philippines, The Asset Triple A Country Awards for Sustainable Finance 2022
  • Financial Leadership in Sustaining Communities in the Asia-Pacific region, Global Finance Sustainable Finance Awards 2022
  • Best Bank for Sustainable Finance in the Philippines, Global Finance Sustainable Finance Awards 2022
  • Best Sustainable Bank in the Philippines, Finance Asia Country Awards 2022
  • Winner of the House Awards Service Providers: ESG Solutions Category in the Asia-Pacific Region, Corporate Treasurer Awards 2022
  • Market Leader in Environmental, Social, and Governance in the EuroMoney Market Leaders
  • Top Sustainability Advocates in Asia, Asia Corporate Excellence & Sustainability Awards (ACES) 2022
  • Most Sustainable Bank in the Philippines, International Business Magazine Awards 2022
  • Manila Bulletin Award for BPI’s Sustainable Development Finance Program
  • Sustainability Company of the Year Circle of Excellence, Asia CEO Awards 2022

 

2021

  • Best Sustainable Bank in the Philippines, FinanceAsia Country Awards 2021

 

2020

BPI Corporate Banking and Business Banking

  • Best Sustainable Bank in the Philippines, FinanceAsia Country Awards 2020
  • Highly Commended Bank in Environmental Responsibility, The Asset ESG Corporate Awards 2019
  • Best Sustainable Finance House, Marquee Awards of the Alpha Southeast Asia Deal & Solution Awards 2019

 

BPI Family Savings Bank and BPI Business Banking

  • Best SME Bank in the Philippines, Alpha Southeast Asia Awards 2020

 

BPI Capital Corporation

  • Best Bank for Sustainable Financing in the Philippines, Alpha Southeast Asia’s 14th Annual Best Financial Institution Awards 2020
  • Green Project of the Year (Philippines) for AC Energy Finance International US$410 million CBI-certified climate bonds, The Asset Triple A Infrastructure Awards 2020
  • Best ESG Green Financing in Southeast Asia (Indonesia) for Star Energy’s US$1.11 billion Dual-Tranche Senior Secured Green Notes, Alpha Southeast Asia Best Deal and Solution Awards 2020
  • Best ESG Green Financing in Southeast Asia: Philippines for Manila Water Company’s US$500 million Sustainability Notes, Alpha Southeast Asia Best Deal and Solution Awards 2020
  • Megatrend Deal of the Year – ESG for the Darajat’s $1.1 billion secured green bond for Star Energy Geothermal Salak, FinanceAsia Magazine
  • Best of Southeast Asia for Darajat’s $1.1 billion secured green bond for Star Energy Geothermal Salak, FinanceAsia Magazine
  • Best Green Bond (Philippines) for AC Energy Finance International’s US$400 million fixed-for-life perpetual green bond, The Asset Asian 2020 Country Awards
  • Best Social Bond (Philippines) for Php 21.5 billion COVID Action Response (CARe) bonds, The Asset Asian 2020 Country Awards
  • Best Sustainability Bond (Corporate) for Manila Water Company’s US$500 million Sustainability Notes, The Asset Asian 2020 Country Awards
  • Best Fixed Income Deal (Large Cap) for AC Energy US$400 million Perpetual Green Bond, IHAP Awards 2020

 

BPI Asset Management and Trust Corporation (AMTC)

  • Asset Management Company of the Year – Highly Commended, The Asset Triple A Sustainable Investing Awards 2020 for Institutional Investor, ETF and Asset Servicing Providers

 

BPI Foundation

  • Silver Anvil for PR Tools: External Publications Technological, Social, and Market Innovations in Social Enterprises: The BPI Sinag Accelerate Initiative, 55th Anvil Awards
  • Gold Anvil for Sustained PR Programs for the Environment, Science and Technology: BPI-DOST Science Awards 2019: Moving the Nation towards Sustainable Development through Science and Innovation, 55th Anvil Awards

 

¹FTSE Russell (the trading name of FTSE International Limited and Frank Russell Company) confirmed that Bank of the Philippine Islands has been independently assessed according to the FTSE4Good criteria, and has satisfied the requirements to become a constituent of the FTSE4Good Index Series. Created by the global index provider FTSE Russell, the FTSE4Good Index Series is designed to measure the performance of companies demonstrating strong Environmental, Social and Governance (ESG) practices. The FTSE4Good indices are used by a wide variety of market participants to create and assess responsible investment funds and other products. For more information, please visit the FTSE4Good website.
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