DCM BDO Green (IFC-40419)

Countries
  • Philippines
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
FI
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Dec 8, 2017
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
BDO UNIBANK, INC.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Ring Fence
  • Climate
A financial intermediary is a commercial bank or financial institution that receives funds from a development bank, sometimes for a specific lending purpose. A "ring fence" is another name for this specific purpose. These funds are then used for lending by the financial intermediary to client companies or individuals.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 150.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 150.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Feb 19, 2018

Disclosed by Bank Dec 8, 2017

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

International Finance Corporation (“IFC”) is investing in a green bond of up to US$150 million to be issued by BDO Unibank, Inc. (“BDO”). Through the investment, IFC will support BDO in raising long term funding for BDO’s lending program to qualifying green projects in the Philippines.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

The total project cost is estimated at US$150 million. The proposed IFC investment consists of USD150 million USD-denominated bond to be issued by BDO. The proceeds from the bond will be used to support the Bank’s lending program to climate smart projects including renewable energy (RE), energy efficiency (EE), and green buildings.

Financial Intermediary
A financial intermediary is a bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.
Private Actor Relationship
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

There is often limited information publicly available about what development banks are funding through financial intermediaries. In 2021, the Early Warning System partnered with Oxfam International to incorporate information on high-risk projects being funded by financial intermediaries receiving funding from the International Finance Corporation (IFC) and the Dutch Development Bank (FMO).

The information listed below describes the relationship between the different private actors linked to high-risk sectors and subprojects of IFC and FMO's financial intermediary investments and/or the financial intermediary's parent companies made from 2017 through 2020, including any associated ring fences.

The database, however, does not explicitly or implicitly imply that IFC or FMO have material exposure to or are contractually or legally accountable to the sub-projects financed by their financial intermediaries or the financial intermediary's parent companies. It only shows a seemingly financial relationship among the different private actors, the financial intermediaries, and IFC or FMO.

Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

BDO was incorporated in the Philippines in 1967 and is listed on the Philippines Stock Exchange. The Bank provides a wide range of banking and financial products and services, including commercial and retail banking, consumer banking, investment banking, private banking, leasing and financing. BDO is the largest bank in the Philippines in terms of asset size and equity. The major shareholder of the Bank is SM Investments Corporation (SMIC) with a 40.09% shareholding. SMIC is a listed company with major interests in property, retail and financial services. As of June 30, 2017, 44.95% of BDO are held by the public.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
Aboitiz Power Corp Parent Company Energy owns Bataan Coal-Fired Power Plant 2 (668MW) Client Energy
Ayala Corp Parent Company Energy owns Star Energy Geothermal Client Energy
BDO UNIBANK Investor Finance invests in Aboitiz Equity Ventures Inc Parent Company Energy
BDO UNIBANK Investor Finance invests in Aboitiz Power Corp Parent Company Energy
BDO UNIBANK Investor Finance invests in Ayala Corp Parent Company Energy
BDO UNIBANK Investor Finance invests in Ayala Corporation Parent Company Energy
BDO UNIBANK Investor Finance invests in Ayala Land Inc Parent Company Industry and Trade
BDO UNIBANK Investor Finance invests in Bataan Coal-Fired Power Plant 2 (668MW) Client Energy
BDO UNIBANK Investor Finance invests in Bloomberry Resorts Corp Client Industry and Trade
BDO UNIBANK Investor Finance invests in Bounty Fresh Food Inc Parent Company Agriculture and Forestry
BDO UNIBANK Investor Finance invests in Cavite-Laguna Expressway (47.02KM) PPP Client Transport
BDO UNIBANK Investor Finance invests in Cebu Landmasters Inc Parent Company Industry and Trade
BDO UNIBANK Investor Finance invests in Del Monte Pacific Ltd Parent Company Agriculture and Forestry
BDO UNIBANK Investor Finance invests in Entrp Investment Hldg Inc Parent Company Transport
BDO UNIBANK Investor Finance invests in First Gas Power Corp Client Energy
BDO UNIBANK Investor Finance invests in First Philippine Holdings Corp Parent Company Energy
BDO UNIBANK Investor Finance invests in Lopez Inc Parent Company Energy
BDO UNIBANK Investor Finance invests in Manila Water Co Inc Parent Company Water and Sanitation
BDO UNIBANK Investor Finance invests in Marlow Foods Ltd Client Agriculture and Forestry
BDO UNIBANK Investor Finance invests in Megaworld Corp Parent Company Industry and Trade
BDO UNIBANK Investor Finance invests in Metro Pacific Parent Company Transport
BDO UNIBANK Investor Finance invests in Metro Pacific Investments (MPIC) Parent Company Transport
BDO UNIBANK Investor Finance invests in Monde Nissin Corp Parent Company Agriculture and Forestry
BDO UNIBANK Investor Finance invests in MPCALA Holdings Inc Client Transport
BDO UNIBANK Investor Finance invests in NLEX-SLEX Connector Road (8KM) PPP Refinancing 2020 Client Transport
BDO UNIBANK Investor Finance invests in Power Partners Parent Company Energy
BDO UNIBANK Investor Finance invests in Prime Metroline Holdings Inc Parent Company Industry and Trade
BDO UNIBANK Investor Finance invests in Robinsons Land Corp Parent Company Construction
BDO UNIBANK Investor Finance invests in San Miguel Corp Parent Company Agriculture and Forestry
BDO UNIBANK Investor Finance invests in SMC Global Power Holdings Corp Parent Company Energy
BDO UNIBANK Investor Finance invests in Solar Philippines Calatagan Parent Company Energy
BDO UNIBANK Investor Finance invests in Star Energy Geothermal Client Energy
Entrp Investment Hldg Inc Parent Company Transport owns MPCALA Holdings Inc Client Transport
First Philippine Holdings Corp Parent Company Energy owns First Gas Power Corp Client Energy
Lopez Inc Parent Company Energy owns First Philippine Holdings Corp Client Energy
Metro Pacific Parent Company Transport owns Cavite-Laguna Expressway (47.02KM) PPP Client Transport
Metro Pacific Investments (MPIC) Parent Company Transport owns NLEX-SLEX Connector Road (8KM) PPP Refinancing 2020 Client Transport
Monde Nissin Corp Parent Company Agriculture and Forestry owns Marlow Foods Ltd Client Agriculture and Forestry
Prime Metroline Holdings Inc Parent Company Industry and Trade owns Bloomberry Resorts Corp Client Industry and Trade

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

BDO Unibank, Inc.
Luis S. Reyes, Jr.
Senior Vice President, Investor Relations and Corporate Planning
+63(2)840 7142
Reyes.luis@bdo.com.ph
4th Floor, South Tower, BDO Corporate Center, 7899 Makati Avenue, Makati City 0726
www.bdo.com.ph

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/

How it works

How it works