BDO Unibank Inc., the country’s largest lender controlled by the Sy family, bagged a bronze award in the First Time Reporter category of the prestigious 5th Asia Sustainability Reporting Awards.
The First Time Reporter award is given to inaugural and well-rounded sustainability reports that demonstrate the company’s long-term approach to integrating sustainability practice into its business operations.
BDO is the only Philippine bank that received the award. Besides BDO, three other Philippine companies were honored at ASRA, including SM Investments Corp., which received a bronze award in the Asia’s Best Sustainability Report category.
“We have a strong commitment to sustainability. Environmental, social and governance standards and practices are at the core of how we run our business because they are aligned with our ‘We Find Ways’ service philosophy,” BDO chairperson Teresita Sy Coson said in a statement Tuesday.
“These principles remain our cornerstone as we continue to evolve to serve the needs of our clients and contribute to social progress,” she said.
Winning entries in the category are judged on strategic approach to sustainability, meaningful and relevant leadership opening statement, coverage of all significant sustainability impacts of the business, approach to stakeholder engagement and clear presentation of multi-year sustainability performance results.
BDO’s award-winning report affirms the bank’s leadership in sustainability reporting and commitment to creating long-term value for stakeholders.
BDO’s Sustainability Report, released last year, outlines the bank’s economic, environmental, social and governance performance in 2018.
It shows how BDO stays true to its sustainability philosophy to achieve resilience by incorporating sustainability in the way it does business and to embed sustainability principles in its decision-making, relationship assessment, and product development processes.
Prepared in accordance with the GRI standards, the report also details how the financial institution does its part in being a positive force for progress, opportunity and sustainability in the communities it serves.
“Banking and financial services play a critical role in helping drive sustainable development. Our ability to provide financial access to the majority of the population is vital in creating a more equitable society. By leveraging on our resources, we strive to be the country’s partner for social progress,” said BDO president and chief executive Nestor Tan.
The non-profit ASRA is organized annually by Singapore-based CSRWorks International. This year’s winners were selected from 461 entries from 16 countries in Asia. It saw 80 shortlisted companies from 13 countries competing in the finals across 19 awards categories.