RIZAL Commercial Banking Corp. (RCBC) announces the amendment of its Sustainable Finance Framework to align with current global standards.
This follows the Securities and Exchange Commission Guidelines on Eligible Blue Projects and the International Finance Corp. Guidelines for Blue Finance.
The framework is also updated to align with the latest developments from the International Capital Market Association on Green Bond Principles, Social Bond Principles and Sustainability Bond Guidelines, as well as with the Loan Market Association, Asia Pacific Loan Market Association and Loan Syndications and Trading Association Green Loan and Social Loan Principles.
It continues to conform to the ASEAN Capital Markets Forum (Green Bond, Social Bond and Sustainability Bond Standards.
In 2022, the bank financed over 8,200 projects under eligible green and eligible social categories amounting to P71.2 billion.
In January 2024, RCBC raised US$400 million from its five-year Sustainability Bonds issuance which was 5.9x oversubscribed, reflecting the trust of the global market. / PR