BDO uses blue bond proceeds for water projects
BDO UNIBANK, Inc. (BDO) used the proceeds from its blue bond issuance in 2022 to fund water projects to help mitigate climate change, it said in a statement on Thursday.
“We are committed to financing eco-friendly initiatives and innovative practices that nurture the environment and present opportunities for economic growth,” BDO Senior Vice-President and Chief Compliance Officer Federico P. Tancongco said in the statement.
BDO’s issuance of the blue bond showed its commitment to address the country’s water and wastewater management needs, he added.
In May 2022, BDO raised $100 million from its maiden issuance of blue bonds through an investment from the International Finance Corp. (IFC). It was the first Southeast Asian private sector issuance for a blue bond.
One of the projects funded by the blue bonds was San Miguel Holdings Corp.’s Luzon Clean Water Development Corp.
The project provides water services to Bulacan province through the Bulacan Bulk Water Supply Project, a public-private partnership project of the government.
Another project funded by the bonds was Cleanway Environmental Management Solutions, Inc.’s plant in Tarlac City. The company provides technology solutions for waste and wastewater treatment.
BDO shares went up by 0.33% or 50 centavos to close at P153 each. — Aaron Michael C. Sy
