HSBC Philippines and Unilever Philippines have launched a sustainable supply chain finance program that offers improved financing terms to Unilever’s suppliers based on their sustainability ratings.
The initiative aims to incentivize suppliers to improve their environmental, social, and governance (ESG) performance, linking lower financing costs directly to their sustainability achievements.
The program enhances the benefits of typical supply chain finance by offering additional incentives, including reduced financing costs and client support for meeting sustainability targets.
“We aim to deepen collaboration with suppliers of large global corporations like Unilever, to enable further progress,” said HSBC Philippines chief executive and banking head Sandeep Uppal.
Uppal said the supply chain offers greater potential for sustainability improvements than the company itself. “This includes building partnerships with larger suppliers, to drive progress in shared supply chains through scaled initiatives and supporting suppliers at an earlier stage of emissions reduction with education and incentivization,” he said.
Rodrigo Rivero, Unilever beauty and wellbeing finance lead for Greater Asia and Philippines, said the partnership reflects the company’s commitment to responsible growth and shared value, with sustainability central to its business strategy.
“At Unilever, we believe sustainability drives business success. By working together with our financial partners, we’re enabling our suppliers to thrive while advancing our sustainability goals across climate, nature, plastics and livelihoods,” Rivero said.
“Together with HSBC, we are making sustainable business a standard,” he said.
