BDO Unibank Inc. teamed up with Asia’s largest banks to promote the “just and orderly” transition to greener finance with the publication of new guidelines.
The Sy family-led BDO, the country’s biggest lender, announced the publication of the Asia Transition Finance Guidelines and the Asia Transition Finance Activity Report.
BDO and Security Bank Corp. are among the “core” banking members of the Asian Transition Finance Study Group, or ATF Study Group, which includes Japan’s MUFG Bank and Sumitomo Mitsui Banking Corp.
The group is designing guidelines for an “Asian version of transition finance that is more realistic and achievable for Asian nations.”
In a statement, BDO said its sustainability programs would be “more gradual in pace”, similar to other lenders in the region.
“But in collaborating with others, BDO Unibank welcomes the opportunity to bring everyone towards the same direction and better manage the energy transition for Asian nations,” it added.
Meanwhile, the ATS Study Group was set up to help Asian economies meet net-zero emissions. The goal is to create practical recommendations to supplement existing frameworks.