BPI says 100 branches now powered by renewable energy

BANK of the Philippine Islands (BPI) said 100 of its branches are now powered entirely by clean energy following the recent transition of 30 additional branches under the government-led Retail Aggregation Program (RAP).

“Transitioning the operations of 100 BPI branches to use fully renewable energy is a clear demonstration of how we put our sustainability commitments into action,” Eric M. Luchangco, BPI chief finance officer and chief sustainability officer, said in a statement on Tuesday.

“We believe that leadership in banking today includes taking decisive action toward a low-carbon future, not only by financing the transition for others, but by transforming our own footprint. This milestone reflects our long-term view that sustainable business practices are essential to resilience, relevance, and responsible growth.”

Under the RAP, electricity end-users can pool their power needs to meet the 100-kilowatt threshold needed to directly negotiate energy supply contracts with licensed retail electricity suppliers.

The program enables competitive pricing while providing businesses flexibility to choose renewable energy sources.

Meanwhile, four of BPI’s corporate offices have likewise been shifted to 100% renewable energy operations to reduce emissions.

BPI also received certification on Excellence in Design for Greater Efficiencies (EDGE) for five of its branches from the International Finance Corp. (IFC). This brings its total IFC EDGE-certified branches to 51.

EDGE is a green building standard and certification developed by IFC, which is a member of the World Bank Group.

“These certified branches achieve at least 20% savings in energy, water, and embodied carbon in materials, demonstrating measurable environmental impact through design and operations,” BPI said.

It added that it has disbursed a total of P376 billion in funding for 532 projects designed to advance corporates and small businesses’ green efforts under its Sustainable Development Finance Program.

“As part of its broader decarbonization strategy, BPI remains on track to fully exit coal power generation financing by 2032, underscoring its commitment to align with global climate goals and support the country’s energy transition,” it said.

“BPI continues to set the pace for sustainable banking, proving that financial institutions can be powerful catalysts for climate action today, and delivering long-term value for stakeholders.”

BPI booked a net profit of P16.9 billion in the first quarter, up 1.7% year on year.

Its shares fell by P3.10 or 3.37% to close at P88.90 apiece on Tuesday. — Katherine K. Chan