BPI supports the country’s transition towards the use of more sustainable energy resources, which is in line with the Paris Climate Agreement. As part of the BPI Sustainability Agenda, the Bank’s Board of Directors approved the following policies on coal financing effective June 2021:
1. BPI Group shall have no additional commitments to finance greenfield coal power generation projects.
2. Outstanding loans of BPI Group to coal power generation shall be reduced to 50% of current exposure by 2026, and zero by 2032, ahead of the Paris Climate Agreement target for non-OECD* countries.
This commitment is a landmark step in the Bank’s integration of sustainability principles into its financial services and operations.
*Organization for Economic Co-operation and Development
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| BPI is regulated by the Bangko Sentral ng Pilipinas