Rizal Commercial Banking Corporation (RCBC) said that its sustainable finance portfolio has reached nearly P100 billion, underscoring its commitment to environmental and social impact within the banking sector. According to RCBC’s 2023 sustainability and impact report, the bank allocated P98.1 billion for so-called green, blue, and social projects, impacting over 18,000 initiatives.
“Our 2023 sustainable finance portfolio transcends mere numbers; it embodies our commitment to fostering meaningful change for people and the planet,” said RCBC chief sustainability officer Armi Lamberte. “We aim to be a catalyst for a sustainable future for generations to come.”
Notably, over 40 percent of RCBC’s sustainable investments have been directed towards renewable energy (RE) and energy efficiency projects, resulting in a total RE capacity of 944 megawatts (MW) and an annual generation of 1,819,968 megawatt hours (MWh). This investment helps avoid approximately 977,211 tons of CO2 emissions each year.
In addition to energy initiatives, RCBC has financed water supply projects providing over 17 million cubic meters of water and has treated nearly 8,300 cubic meters of sewage. The bank’s commitment to sustainable transportation is evidenced by its funding of 120 light rail vehicles.
Socially, RCBC has supported healthcare with the addition of 5,371 hospital beds and has treated nearly 5 million patients annually. The bank also invested in education, supporting institutions that serve over 112,000 students and providing scholarships to 558 vulnerable students.
RCBC’s financing strategies extend to 730 micro, small, and medium enterprises (MSMEs), with particular focus on businesses owned or led by women. The bank has provided loans totaling P11.3 billion to cooperatives and rural banks, benefiting 572,279 members and serving 52,905 clients.
With these efforts, RCBC continues to solidify its position as a leader in sustainable finance, demonstrating a robust commitment to fostering a positive impact on society and the environment.
