BDO Unibank to reduce its coal exposure by 50 per cent

BDO Unibank Incorporated has announced plans to reduce its coal exposure by 50 per cent over the next 10 years while increasing its funding for renewable energy projects in the Philippines.

Additionally, the bank’s coal exposure will also be limited to at most two per cent of its total loan portfolio by 2033. In 2019, the bank ceased any new funding for future coal-fired power plants. However, BDO Unibank will consider extending new capital during an emergency energy crisis. The bank will continue financing its renewable energy projects with increased focus on solar, geothermal, wind, hydro, and biomass.

GET ACCESS TO OUR ARTICLES

Enter your email address