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Friday, March 29, 2024

BDO Capital, BPI back clean energy

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Banco de Oro Capital and Investment Corp. and the Bank of the Philippine Islands expressed interest to finance clean energy projects that will address climate and energy transition risks and increase resilience.

The two financing institutions cited a need to address challenges in funding renewable energy projects.

“Banks are implementation ready. We are already strictly regulated by the Monetary Board and the Central Bank, so if they issue more guidelines we’ll just follow it. We do a lot of project finance and we analyze all the risks anyway—we try to factor that in,” said BDO Capital president Eduardo Francisco in a webinar organized by the Institute of Corporate Directors in partnership with the Institute for Climate and Sustainable Cities, The Climate Reality Project Philippines and ClientEarth.

BPI vice president Jo Ann Eala said the bank takes both climate and environmental risks and opportunities into consideration in the projects.

“We have to make sure that the projects that we support, and we fund are actually making money and profitable, meaning the project is sustainable. It is important that the project can sustain itself financially,” Eala said.

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