BDO Unibank Inc. received the “Best Advance in Responsible Finance Award” at the Retail Banker International Asia Trailblazer Awards 2024 in Singapore for its pioneering Blue Bond initiative. This recognition is a testament to BDO’s innovative financing solutions aimed at promoting environmental protection and conservation while driving economic growth.
The BDO Blue Bond, amounting to US$100 million through the investment of the International Finance Corporation (IFC), marks a significant achievement in the banking sector not just in the Philippines, but also in Southeast Asia. It represents the first private sector issuance that prioritizes projects dedicated to fostering the blue economy.
Through the Blue Bond proceeds, BDO is poised to bolster various initiatives such as water conservation, wastewater treatment, plastic recycling, sustainable tourism, fisheries, and sustainable seafood processing initiatives, among others.
The bond’s proceeds have funded crucial water and wastewater management projects, including the Bulacan Bulk Water Supply Project and the Wawa Bulk Water Supply Project. These programs address water scarcity issues in the Philippines, benefitting numerous households and communities. Furthermore, these initiatives contribute to environmental and social welfare by aiding in climate change mitigation, meeting the rising demand for clean water, and preserving water reservoirs for future generations.
“This award exemplifies our unwavering commitment in creating positive impact to the environment towards a more sustainable and equitable future. We believe that sustainable finance plays a crucial role in addressing pressing global challenges, and we are proud to be at the forefront of this movement,” said Atty. Federico Tancongco, Senior Vice President and Chief Compliance Officer of BDO Unibank.
The Retail Bankers International Asia Trailblazer Awards recognize banks driving the future of banking in the Asia-Pacific region, focusing on digital transformation, customer experience enhancement, and sustainable banking efforts. It is organized by the Retail Banker International, a global retail banking briefing service that provides essential resources for C-level executives in retail banking and consumer finance.
