BPI named Sustainability Company of the Year at Asia CEO Awards 2024
The Bank of the Philippine Islands (BPI) has been recognized as the “Sustainability Company of the Year” at the prestigious Asia CEO Awards 2024. This accolade highlights BPI’s unwavering commitment to sustainability and environmental responsibility through responsible banking and operations, solidifying its leadership in sustainable finance in the Philippines, which began in 2008.
The Asia CEO Awards is one of the largest business award events in the Philippines and considered the largest event of its kind in Southeast Asia. The awards recognize leaders and companies that have demonstrated outstanding achievements in their organizations and contributions to their stakeholders.
BPI’s ongoing efforts to integrate Environmental, Social, and Governance (ESG) principles into its core strategies were key to this recognition. The bank’s Sustainability
Agenda emphasizes responsible banking and operations, ensuring that its activities contribute to financial inclusion, sustainable development, nation-building, environmental responsibility, and social responsibility.
“We are deeply honored to receive this award, as it affirms our dedication to embedding sustainability in all aspects of our business,” said Eric Luchangco, BPI Chief Finance Officer and Chief Sustainability Officer. “This recognition reflects our commitment, not just to profitability, but to creating long-term value for our clients, the environment, and the communities we operate in.”
In addition to winning “Sustainability Company of the Year,” BPI was also a finalist in two other prestigious categories at the Asia CEO Awards 2024: “Top Employer of the Year” and “Wellness Company of the Year,” further demonstrating the bank’s commitment to creating a positive impact both within and beyond the organization.
Gina Eala, Chief Human Resources Officer; Eric Luchangco, Chief Finance Officer and Chief Sustainability Officer; and Jo Ann Eala, Head of Sustainability Office.
Pioneering Sustainable Finance
BPI has been a trailblazer in sustainable financing, becoming the first Philippine bank to implement a time-bound coal phase-out commitment. It also launched the Sustainable Development Finance (SDF) Program back in 2008, which has funded over 417 ESG projects worth Php277 billion since. These projects have contributed significantly to reducing greenhouse gas emissions and fostering inclusive economic growth.
The bank’s Responsible Lending Policy ensures that environmental and social factors are rigorously assessed in its credit decisions, further promoting sustainable business practices among its clients. BPI’s Sustainable Funding Framework (SFF) supports projects with clear environmental and social benefits, including renewable energy, energy efficiency, and green buildings.
A Culture of Sustainability
In a pioneering move, BPI mandates that all employees have at least 10% of their Key Results Areas (KRAs) focused on sustainability. This ensures that the bank’s sustainability agenda is deeply embedded across all levels of the organization.
BPI has also shifted three of its corporate offices to 100% renewable energy, and 18 of its branches have been certified by the International Finance Corporation (IFC) EDGE for meeting at least 20% savings in electricity, water, and embodied energy in materials.
Continuing the Commitment
BPI’s sustainability journey is far from over. The bank continues to innovate and expand its sustainability initiatives, driving meaningful impact for the country’s economy, society, and environment.
“This award reinforces our resolve in pursuing our goal of being a responsible and sustainable bank,” added Luchangco. “Our mission is to ensure that our business not only grows but that it contributes to building a better Philippines—one family, one community at a time.”
