BDO wins Top Sustainability Award in Asia for 3rd straight year
2024 February – BDO Unibank Inc. (BDO) was named Top Sustainability Advocate in Asia for the third consecutive year at the 2023 Asia Corporate Excellence & Sustainability (ACES) Awards in Kuala Lumpur, Malaysia.
BDO’s institutional approach to sustainability, pioneering sustainable finance of groundbreaking renewable energy projects, green buildings and initiatives in support of United Nation’s 17 Sustainable Development Goals, forging innovative partnerships with international financial institutions, and integrating Environmental, Social and Governance (ESG) in funding were the Bank’s key differentiators that led to this recognition.
In May 2022, BDO pioneered the issuance of the first Blue Bond in Southeast Asia through an investment from International Finance Corporation (IFC) amounting to US$100 million for funding activities that preserve clean water resources and help prevent marine pollution, while supporting the Philippines’ water sustainability and climate goals. BDO is the country’s first bank to finance projects that protect water and the ocean as critical resources, introducing a new financial instrument to protect the environment.
BDO announced its Energy Transition Finance Statement last year reinforcing the Bank’s commitment to financing the transition to a low-carbon, environmentally responsible and socially inclusive economy anchored on good governance. The Bank continues to expand its Sustainable Finance initiatives, in place since 2010, towards funding new and existing renewable energy projects to increase their capacity, and support the country’s Nationally Determined Contributions to the 2015 Paris Agreement that aims to reduce 75% of the country’s greenhouse gas (GHG) emissions by 2030.
BDO also joined other leading Asian banks in advancing energy transition finance with the publication of the Asia Transition Finance Guidelines and the Asia Transition Finance Activity Report, aimed at helping Asian economies achieve a “just and orderly transition” toward a more sustainable future. BDO is a member of the Asian Transition Finance Study Group (ATF Study Group) that drafted the guidelines in pursuit of an Asian version of transition finance that is more realistic and achievable for Asian nations.
BDO is the country’s largest bank in terms of total assets, loans, deposits and trust funds under management. The Bank has the country’s largest distribution network, with over 1,600 consolidated operating branches and more than 4,700 ATMs nationwide. It also has 16 international offices in Asia, Europe, North America and the Middle East. Extensive digital banking solutions are available to make banking easier, faster, and more secure for its clients.
“This recognition exemplifies BDO’s commitment to sustainability in everything that we do, creating positive impact in our communities, protecting the environment and uplifting the lives of Filipinos,” said Nestor V. Tan, President and CEO of BDO Unibank.
The Asia Corporate Excellence & Sustainability Awards (ACES) recognizes successful companies and individuals in Asia across two main domains; leadership and corporate social responsibility. The awards value and recognize services and achievements of businesses, both large and small, national and international, for their esteemed contributions to their communities and the world.
The ACES Awards is organized annually by MORS Group, an organization committed to assisting companies, corporate leaders, and eminent industrialists share a platform to exhibit leadership and sustainability excellence.
Sustainability excellence. Marla Garin-Alvarez (center), Vice President and Head of Sustainability Office of BDO Unibank Inc., accepted the Top Sustainability Advocate in Asia award from Shanggari B. (left), President of ACES Council and Chief Executive Officer of MORS Group and Dr. Jayanthi Desan (right), Advisor of ACES Council and Managing Partner of Aubrens. The 2023 Asia Corporate Excellence & Sustainability (ACES) Awards was held in Kuala Lumpur, Malaysia.
Related Stories: