CAGAYAN DE ORO CITY (PIA) -- Clinching the prestigious “Best Advance in Responsible Finance Award” at the Retail Banker International Asia Trailblazer Awards 2024 in Singapore, Banco de Oro (BDO) targets to enhance environmental conservation and bolster the tourism sector through its innovative Blue Bond initiative.

This recognition is a testament to BDO’s innovative financing solutions aimed at promoting environmental protection and conservation while driving economic growth.

The International Finance Corporation (IFC) has invested US$100 million in the BDO Blue Bond, which is a noteworthy accomplishment for the banking industry in Southeast Asia and the Philippines. It is the first private sector issue that gives projects aimed at promoting the blue economy priority.

BDO is prepared to support a variety of initiatives, including water conservation, wastewater treatment, plastic recycling, sustainable tourism, fisheries, and sustainable seafood processing, among others, with the proceeds from the Blue Bond.

The bond’s proceeds have funded crucial water and wastewater management projects, including the Bulacan Bulk Water Supply Project and the Wawa Bulk Water Supply Project. These programs address water scarcity issues in the Philippines, benefiting numerous households and communities. 

Furthermore, these initiatives contribute to environmental and social welfare by aiding in climate change mitigation, meeting the rising demand for clean water, and preserving water reservoirs for future generations.

“This award exemplifies our unwavering commitment to creating positive impact on the environment towards a more sustainable and equitable future. We believe that sustainable finance plays a crucial role in addressing pressing global challenges, and we are proud to be at the forefront of this movement,” said Atty. Federico Tancongco, Senior Vice President and Chief Compliance Officer of BDO Unibank.  

The Retail Bankers International Asia Trailblazer Awards recognize banks that are driving the future of banking in the Asia-Pacific region, focusing on digital transformation, customer experience enhancement, and sustainable banking efforts. Retail Banker International, a global retail banking briefing service, organizes the event, providing essential resources for C-level executives in retail banking and consumer finance. (CID Communication/PIA-10)