{"id":137528,"date":"2017-12-08T22:19:20","date_gmt":"2017-12-09T03:19:20","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=137528"},"modified":"2017-12-08T22:19:20","modified_gmt":"2017-12-09T03:19:20","slug":"bdo-issues-usd150-m-green-bond-to-curb-climate-change","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2017\/12\/08\/bdo-issues-usd150-m-green-bond-to-curb-climate-change\/","title":{"rendered":"BDO issues USD150-M ‘green bond’ to curb climate change"},"content":{"rendered":"
\"Proceeds<\/a>
Proceeds from the bond sale will be used to fund climate-smart projects, such as renewable energy, green building, and energy-efficient equipment, it said. (Photo: By Hans Olav Lien – Own work, CC BY-SA 3.0)<\/a><\/figcaption><\/figure>\n

MANILA\u2014<\/strong>\u00a0BDO Unibank Inc. is pioneering the issuance of so-called green bonds among Philippine commercial banks, after recently raising USD150 million from the activity and allotting all the proceeds to fund projects aimed at curbing climate change.<\/p>\n

In a disclosure to the Philippine Stock Exchange (PSE) Friday, the bank owned by taipan Henry Sy said the World Bank Group\u2019s investment arm, the International Finance Corp. (IFC), is the sole investor in the green bond.<\/p>\n

Proceeds from the bond sale will be used to fund climate-smart projects, such as renewable energy, green building, and energy-efficient equipment, it said.<\/p>\n

BDO President and CEO Nestor V. Tan said in the disclosure that \u201cclimate change is a very real concern in the Philippines,\u201d citing that the country \u201cis one of the most vulnerable countries globally to the impacts of such change.\u201d<\/p>\n

\u201cThis bond demonstrates our corporate commitment to come up with business solutions to address the challenges of sustainability. This also aligns with our goal of growing BDO\u2019s climate business, and ultimately, fostering the nascent climate finance market in the country. We are glad to partner with IFC, a global expert in green finance,\u201d he said.<\/p>\n

BDO and IFC started the advisory engagement for the green bond in 2010, and this paved the way for the bank to include sustainable energy financing as part of its core business.<\/p>\n

To date, the bank has extended more than USD500 million for its climate-smart portfolio.<\/p>\n

The latest issuance, the bank said, \u201cis expected to help save 93,000 tons of C02 (carbon dioxide) emissions per year by 2022.\u201d<\/p>\n

IFC Director for East Asia and the Pacific Vivek Pathak, in the same disclosure, said BDO\u2019s latest green bond issuance shows the bank\u2019s \u201cleadership in developing climate finance in the country.\u201d<\/p>\n

\u201cBy building on our long-term partnership with BDO, we aim to create a vibrant green bond market in the country and stimulate private sector investment in renewable energy and energy efficiency,\u201d he said.<\/p>\n

\u201cFurther, by setting the standard and the benchmark for green bonds issued in accordance with the Green Bond Principles, which IFC helped develop, we hope to pave the way for other issuers and investors to access financing through this product, at a time when demand for green infrastructure and other sustainable investments are high,\u201d he added.<\/p>\n","protected":false},"excerpt":{"rendered":"

MANILA\u2014\u00a0BDO Unibank Inc. is pioneering the issuance of so-called green bonds among Philippine commercial banks, after recently raising USD150 million …<\/p>\n","protected":false},"author":33,"featured_media":127889,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[37779,15972,37780],"class_list":["post-137528","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-bdo-issues-usd150-m-green-bond-to-curb-climate-change","tag-bdo-unibank-inc","tag-green-bonds-among-philippine-commercial-banks","mauthors-joann-villanueva","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/137528","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=137528"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/137528\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/127889"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=137528"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=137528"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=137528"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}