Rizal Commercial Banking Corp on Monday said it established a finance framework for the issuance of “green” bonds and loans.
Funding will focus on renewable energy, green buildings, clean transport, energy efficiency, and pollution prevention and control, RCBC told the stock exchange.
“RCBC recognizes the importance of developing greater environmental awareness and social responsibility through its operations and the businesses it serves,” said its CEO Gil Buenaventura.
The country’s tenth largest bank in terms of assets tapped ING Bank as its sole structuring adviser for the initiative, ING Bank Philippines country manager Hans Sicat said.
RCBC said its green finance framework is the first in the country to be aligned with the ASEAN Capital Markets Forum’s ASEAN Green Bond Standards 2018.
Source: ABS-CBN