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March 01, 2024

BPI promotes use of renewable energy to keep businesses resilient

Bank of the Philippine Islands (BPI) headed by bankero TG Limcaoco continues to ramp up its efforts to promote sustainability and improve business resiliency across various sectors as part of its mission to build a better and more sustainable future for all.

BPI Corporate Credit Products Group Head Junie Veloso said the Ayala-led bank continues to guide its clients on how they can future proof their companies and enable an energy-secured future for their businesses.

“We have seen that our lives can also be threatened by extreme weather conditions such as what Cebu, Bohol, and Siargao have experienced when they were hit by typhoon Odette. Energy security should be at the forefront not only of the country’s development and resiliency agenda but also of every business,” the bankero said.

In the second episode of its Business Talks—a webinar series hosted by BPI Sustainable Development Finance—the bank underlined developments in different areas of sustainability, especially the use of renewable energy,

BPI’s long-time consultant for renewable energy Silverio Navarro Jr. said that the use of renewable energy protects businesses from price hikes of imported fuel during instability and peak demands.

Navarro said that it makes sense to invest in renewable energy and battery technologies now, in combination with existing back-up solutions, as a cost-effective measure.

In response to the growing need for creating sustainable businesses, BPI consolidated its Sustainable Development Finance program to accelerate investments in energy efficiency, renewable energy, green building, and sustainable agriculture.

It offers free technical consultation services including the evaluation of project feasibility studies, technical training, and validation of energy savings, and production projections before financing.

These services ensure that the projects of BPI’s business clients are technically feasible and financially viable.

The 170-year old bank has committed to stop financing of all coal-fired power plants by 2033.

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