PLDT Inc. said Tuesday it secured a P4 billion green loan from Metropolitan Bank & Trust Co., the first of this type of loan provided by a local lender to the Philippines’ leading integrated telecommunications network, to fund its fiber optic network expansion.
PLDT is hopeful the loan will help narrow the country’s digital divide and ensure a fast and reliable internet service facilitated by an energy-efficient network.
Danny Yu, PLDT’s chief financial officer and chief risk management officer, said the active participation of the telecom giant in the growing market for sustainable finance dovetails with the company’s sustainability roadmap.
“We are encouraged by the financial community’s support of the Bangko Sentral ng Pilipinas’ advocacy for sustainable financing as we continue to explore various ways to green our operations. Our partnership with Metrobank reinforces our commitment to broaden our sustainable financing portfolio,” said Yu.
Fiber-optic technology is integral to PLDT’s energy-efficient network, consuming significantly less energy than traditional copper-based infrastructure and requiring less power for data transmission over long distances while maintaining minimal degradation. This not only reduces operational costs but also aligns with the PLDT Group’s decarbonization roadmap by minimizing energy usage.
The roadmap aims to cut greenhouse gas emissions by 40 percent by 2030. PLDT is also actively exploring integration of renewables, green technologies, and various resource optimization initiatives.
“Securing another Green Loan facility for PLDT showcases our commitment to integrate sustainability in every facet of our operations, and underscores our holistic approach to environmental stewardship and responsible business practices. Together with the financial community’s support, we can drive more meaningful change and collectively build a sustainable future for future generations,“ said chief sustainability officer, Melissa Vergel de Dios.
PLDT ended March with over 1.1 million cable kilometers of fiber infrastructure, consisting of over 0.2 million cable kilometers of international fiber and over 0.9 million cable kilometers of domestic fiber.
