PLDT Inc. (PLDT) said Tuesday it secured a P4-billion green loan from Metropolitan Bank & Trust Co. (Metrobank).
Similar to its initial P1-billion green loan, the loan proceeds are earmarked for the nationwide expansion of PLDT’s fiber footprint which will not only narrow the country’s digital divide, but also ensure a fast and reliable internet experience facilitated by an energy-efficient network.
“PLDT’s active participation in the growing domestic market of sustainable finance is a demonstration of our adherence to global best practices in pursuit of sustainable profitability,” PLDT chief financial officer and chief risk management officer Danny Yu said.
“We are encouraged by the financial community’s support of the Bangko Sentral ng Pilipinas’ advocacy for sustainable financing as we continue to explore various ways to green our operations. Our partnership with Metrobank reinforces our commitment to broaden our sustainable financing portfolio,” Yu said.
Fiber-optic technology is integral to PLDT’s energy-efficient network, consuming less energy than traditional copper-based infrastructure and requiring less power for data transmission over long distances while maintaining minimal degradation. This not only reduces operational costs but also aligns with the PLDT Group’s decarbonization roadmap by minimizing energy usage.
The roadmap aims to reduce its Scope 1 and Scope 2 greenhouse gas emissions by 40 percent by 2030, coming from a 2019 baseline. Anchoring on this target, the group is also actively exploring integration of renewables, green technologies and various resource optimization initiatives.
“Securing another green loan facility for PLDT showcases our commitment to integrate sustainability in every facet of our operations, and underscores our holistic approach to environmental stewardship and responsible business practices,” said PLDT chief sustainability officer Melissa Vergel de Dios.
“Together with the financial community’s support, we can drive more meaningful change and collectively build a sustainable future for future generations,” she said
PLDT, as of end-March 2024, had over 1.1 million cable kilometers of fiber infrastructure, consisting of over 200,000 cable kilometers of international fiber and over 900,.000 cable kilometers of domestic fiber supporting various internet delivery platforms including fiber fixed broadband, mobile data services, and carrier-grade WiFi.