Ayala-led Bank of the Philippine Islands (BPI) has been recognized by Asiamoney, a global finance magazine, for its innovative environment, social, and governance (ESG) frameworks.
Asia Money named BPI as the best Philippine bank for ESG policy for 2023, citing its pioneering policies in the realm of sustainable finance.
“BPI now has a dynamic board-approved sustainability agenda that guides how the bank balances the integration of sustainability principles into its overall profit objectives as well as its corporate governance and risk-management frameworks,” Asiamoney said.
The magazine recognized BPI’s innovation in funding 28 sustainability-related projects worth P30.06 billion, with the running total close to P252 billion.
“Of that total, 167 projects focus on energy efficiency, 113 on renewable energy sources and 118 on climate resilience and sustainable agriculture. These have cut greenhouse gas emissions by an estimated 31 million tonnes in carbon dioxide equivalent terms a year,” it added.