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December 10, 2023

Union Bank revises Sustainable Finance Framework

Union Bank of the Philippines (Union Bank) recently revised its Sustainable Finance Framework (SFF), the bank said in a filing to the Philippine Stock Exchange (PSE) dated Feb. 28.

The bank said that the move was done “primarily to expand the types of financing covered by the SFF.”

Revisions include a new environmental project category as well as updated parameters on the eligibility criteria of various project categories.

The bank also said that the updated SFF has been reviewed by Sustainalytics, an independent provider of ESG Research and ratings, which has issued a second-party opinion indicating the SFF’s alignment with relevant global sustainability principles and standards.

Union Bank’s Sustainable Finance Framework was launched in 2020 and provides a structure for financing specific initiatives that promote environmental and social benefits.


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