BDO Unibank, Inc. (BDO) has recently received an updated accreditation on its Sustainable Finance Framework (SFF) from Sustainalytics relative to the expansion of SFF eligible categories to include blue projects aligned with current market standards. This follows the Bank’s issuance of its maiden USD100 million Blue Bond earlier this month through an investment from the International Finance Corporation (IFC).
Sustainalytics, a leading independent Environmental, Social and Governance (ESG) research and ratings provider based in New York, expressed that in their opinion “BDO is adequately positioned to issue sustainability bonds and that the Framework is robust, transparent and in alignment with the four core components of the Green Bond Principles (2021), Social Bond Principles (2021), Green Loan Principles (2021) and the ASEAN Sustainability Bond Standards (2018).”
The expanded SFF includes eligible blue categories such as sustainable water and waste water management, and offshore renewable energy. These are in addition to green categories that include among others, renewable energy, green buildings, clean transportation, as well as social categories that include employment generation and food security.
The expanded SFF strengthens the Bank’s support for targeted and responsible projects seen to facilitate the country’s transition to a low-carbon economy while advancing socio-economic development in the Philippines.