| THE AYALA WAY

Vol 6 No 11

"We believe in the power of partnerships to drive real change. With the BPI-IFC partnership, we are not just financing projects; we are building a better, more sustainable future for the Philippines."

JOSE TEODORO K. LIMCAOCO
BPI President and CEO

BPI Treasurer and Head of Global Markets Dino Gasmen, Head of Institutional Banking Juan Carlos Syquia, and CFO and Chief Sustainability Officer Eric Luchangco with IFC FIG Manager for East Asia and Pacific Arnaud Dupoizat and Senior Investment Officer and FIG Country Anchor for the Philippines Aileen Theresa Ruiz-Zarate

SUSTAINABLE FINANCE

BPI Gets IFC Nod for Highest GhG Emissions Mitigated in East Asia and Pacific

Bank of the Philippine Islands has been recognized by the International Finance Corporation’s Climate Assessment for Financial Institutions for its exceptional commitment to climate action and efforts to mitigate climate change.

According to IFC, BPI achieved the “Highest Estimated Greenhouse Gas Emissions Mitigated” in the East Asia and Pacific region, with an impressive reduction of 1,754 thousand tCO2e/year. This marks the first time a Philippine financial institution has received such recognition.

“Receiving this recognition from IFC is a testament to BPI’s unwavering commitment to sustainable finance and our dedication to mitigating climate change,” said BPI President and CEO TG Limcaoco. “We are proud to continue to fund projects that deliver measurable environmental benefits for the communities we serve. This recognition highlights BPI’s critical role in financing projects that contribute to a more sustainable and low-carbon future for the Philippines.”

In 2023, BPI secured a $250 million green bond investment from IFC, a member of the World Bank Group. This landmark deal represented the largest green bond transaction IFC has ever made with a financial institution in the Philippines and underscores the bank's leadership in driving sustainable finance in the country. Proceeds have been used to finance eligible green projects such as renewable energy, with a focus on reducing greenhouse gas emissions and improving climate resilience. IFC also continues to help BPI build its capacity to assess the eligibility and impact of its climate projects, strengthening its role as a leader in sustainable finance.