Rizal Commercial Banking Corp. (RCBC) said Wednesday that its renewable energy (RE) loan portfolio has surpassed its coal financing for the first time, marking a major milestone in its shift toward sustainable finance.
RCBC chief sustainability officer Armi Lamberte reported that RE loans grew 80 percent year-on-year, reaching ₱52.7 billion by end-2024—up from ₱28 billion the previous year. As of March 2025, RE projects make up 44 percent of the bank’s sustainable finance portfolio.
“This milestone reflects our continued shift toward sustainable investments,” said Lamberte. Since its 2020 policy to exit coal by 2031, RCBC has stopped funding new coal plants and expanded its RE financing, supporting 22 RE projects by end-2024. These include solar, wind, geothermal, and hydro, totaling over 2,000 MW in capacity since 2012.
The shift aligns with the Philippine government’s target of increasing renewables to 35 percent of the energy mix by 2030.
Beyond lending, RCBC is enhancing its ESG footprint. It recently launched a conservation partnership with Haribon Foundation and continues to earn accolades, including the Best Bank for Sustainable Development Philippines (2024).
RCBC’s latest achievement underscores the growing role of banks in supporting the country’s energy transition and highlights the impact of clear sustainability policies on financial portfolios.
