BDO Unibank, Inc. (BDO) continues to strengthen its commitment to a sustainable future through proactively financing energy efficiency projects, including green facilities and vehicles.
At the recently held Energy Financing Forum, Gabriel U. Lim, Senior Vice President and Head of Corporate Finance of BDO Capital & Investment Corporation said that BDO is looking for more renewable energy projects to finance in support of national economic development and energy security.
BDO views the social impact of the energy transition as equally important as the economic and environmental impacts. “We are committed to provide access to capital to our customers so they can acquire new transition technologies that will reduce carbon footprint or shift to renewable energy sources entirely”, added Lim.
BDO’s announcement of its Energy Transition Finance Statement last year reinforced the Bank’s commitment to financing the transition to a low-carbon, environmentally responsible and socially inclusive economy. This was in support of the 2015 Paris Agreement and the Philippines’ nationally determined contribution that aims to reduce 75% of the country’s greenhouse gas (GHG) emissions by 2030.
The Bank continues to expand its Sustainable Finance initiatives towards funding new and/or existing renewable energy projects. Since 2010, BDO has financed a mix of 55 renewable energy projects for wind, solar, geothermal, hydro, and biomass energy sources accounting for 2,230 megawatts of total installed renewable energy capacity nationwide.
BDO recognizes that it plays a critical role in the country towards contributing to a global low carbon economy. The Bank’s financing innovative green projects helps drive national development while transitioning toward a more sustainable future.