FUNDS raised by BDO Unibank Inc. (BDO) financed 28 projects that supported employment generation and the expansion of renewable energy sources in the country.
In a statement last Thursday, BDO said it raised P52.7 billion from its first Asean Sustainability Bond, a peso-denominated Fixed-Rate bond that was well subscribed by both retail and institutional investors.
“BDO remains committed to a sustainable future by providing financial support to initiatives that create opportunities, uplift the lives of Filipinos and help contribute to the nation’s progress while transitioning to a low carbon, environmentally responsible and socially inclusive economy,” read the company’s statement.
BDO said proceeds from the bond allowed it to extend loans to 488,450 micro-sized, small-scale and medium-sized enterprises (MSMEs). The proceeds also financed activities that helped create or retain 70,655 jobs, especially for displaced, underprivileged and unemployed Filipinos.
Further, the proceeds financed projects that reduced greenhouse gas emissions, created sustainable infrastructure through construction or retrofitting of green buildings and promoted water conservation through enhancement of wastewater treatment facilities.
The information was based on the ASEAN Sustainability Bond Impact Report that was prepared following the ASEAN Guidelines on Sustainability Bond Standards. The report also followed the guidelines set by the International Capital Market Association (ICMA) and Harmonized Framework for Impact Reporting.
It is also aligned with the United Nations Sustainable Development Goals (SDGs) targets and the BDO Sustainable Finance Framework.