Insular Life (InLife) has invested in Citicore Energy REIT Corp.’s (CREIT) ASEAN green bonds, continuing its commitment to promote sustainability.
“We consider this a relevant undertaking to further our goal of promoting sustainability. We want to continue creating value through sustainable investing, and we are thankful for the opportunity CREIT afforded us,” said Nina D. Aguas, InLife executive chair in a statement on Feb.22.
This follows InLife’s previous sustainable investments, first in 2018, when it made substantial investments in the International Finance Corp.’s green bonds, which funded projects that promote renewable power, energy efficiency, sustainable agriculture, green buildings, and those that address climate change.
Similarly, the insurer invested in Ayala Group’s South Luzon Thermal Energy Corp.’s transition to renewable energy in 2022.
Meanwhile, InLife also launched the Systematic Global Sustainable Investment Fund (GSIF), a first-of-its-kind investment fund supporting Environmental, Social, and Governance (ESG)-focused outcomes with the potential to earn monthly payouts.
The CREIT ASEAN green bonds offering, which raised P4.5 billion, will be used to acquire a solar rooftop system and land parcels in Batangas that will be leased to solar power generators and operators affiliated with CREIT’s sponsor, Citicore Renewable Energy Corp. (CREC).
Three utility-scale solar plants with a total projected generation capacity of 269 megawatts direct current will be constructed as part of CREC’s expansion plans.
