Money

BDO’s green finance framework gets accreditation from NY-based research and ratings firm

BDO Unibank’s sustainable finance framework (SFF) has been given the endorsement by Sustainalytics, a leading independent environmental, social and governance (ESG) research and ratings provider based in New York.

Sustainalytics provided assurance that the Sy-owned bank’s SFF is “credible and impactful” and aligns with industry standards and best practices.

According to Systainalytics, BDO’s SFF aligns with the 2018 Sustainability Bond Guidelines, 2020 Green Loan Principles and the 2018 ASEAN Sustainability Bond Standards.

BDO’s sustainable finance initiatives began with the establishment of the Social and Environmental Management Systems (SEMS) policy in 2010 with the assistance of the International Finance Corp. (IFC).

The SEMS guidelines cover social and environmental impact assessment and risk categorization of borrowers. BDO had set up a sustainable finance desk that initially focused on financing renewable energy projects and has expanded the scope to include all forms of sustainable practices including energy efficiency, climate-smart agriculture, green infrastructure, and clean transportation.

BDO’s SFF is in line with the United Nations Social Development Goals (UN SGDs), and focuses on five (5) key strategies: product sustainability, sustainability contribution, human capital sustainability, disaster response sustainability, and governance-based sustainability.

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