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Wednesday, March 9, 2022

BPI Ranks 1st in Sustainability Amongst Philippine Banks

Bank of the Philippine Islands (BPI) got the highest mark amongst Philippine banks in terms of sustainability and ethical impact based on MSCI, S&P Global, and Sustainalytics. 

The three ratings and analytic's firms measured the Philippine banks Environmental, Social, and Governance Ratings for 2021 (ESG Ratings). ESG measure a company's performance in initiatives and risk management practices related to environmental protection, social responsibility, and good governance. 

"Sustainability has always been a high priority at BPI," said President and CEO Jose Teodoro Limcaoco. "We are committed to responsible banking and will continue to champion sustainability towards a better Philippines."

MSCI gave the bank a rating of BBB (best possible rating: AAA) while S&P Global gave the Bank a rating of 51 (best possible rating: 100). Following an inverted rating scale, Sustainalytics gave the Bank a rating of 27 (best possible rating: 0). 

BPI is the first and only Philippine bank to give a time-bound commitment to zero out its coal energy generation portfolio by 2032. It is also the only Philippine bank to-date that has been able to perform an environmental risk assessment that uses the HazardHunterPH system to identify and score risk exposures of the bank's employees, branches, and machines as well as client business and collateral locations to natural hazards such as earthquakes, flooding, and volcanic eruptions. HazardHunterPH is a product of GeoRisk Philippines, a multi-agency initiative led by the Department of Science and Technology-Philippine Institute of Volcanology and Seismology.

As of end-2020, 47% of the Bank's loan portfolio contributed to the United Nation's Sustainable Development Goals, up from 35% as of end-2019. It is the only Philippine Bank that provides free technical consultation as a part of its loan package, aimed at ensuring that the clients' sustainability projects will be successful and profitable. 


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