Metrobank mobilizes P63 billion in green financing

MANILA, Philippines — Metropolitan Bank & Trust Co. (Metrobank) has mobilized P63 billion in green financing to support renewable energy, sustainable urban development, water security and inclusive growth.

In its 2024 annual and sustainability report, the Ty-led bank said it is building a more resilient and equitable future for the Philippines through responsible banking and transformative community engagement.

“Our pioneering sustainable finance framework, aligned with international standards, has enabled us to mobilize P63 billion in green financing for projects directly supporting renewable energy, sustainable urban development, water security and inclusive growth,” the bank said.

Among the key transactions were a P4.5-billion loan to ACEN for a solar power project in Zambales, a P15-billion blue bond to support Maynilad’s water and sanitation upgrades as well as an P8-billion sustainability linked bond for Ayala Land’s decarbonization initiatives.

Metrobank has also identified certain types of business relationships that are either directly prohibited by law or pose risks to life, the environment and societal well-being.

“We take a precautionary approach to environmental and social risks in our lending and investment activities, ensuring that we will not knowingly engage entities exposed to harmful practices – including illegal business activities, human rights violations and environmental degradation,” it said.

The listed bank’s broader commitment to sustainability saw it disburse over P900 billion in loans aligned with the United Nations Sustainable Development Goals (SDGs), which make up 72 percent of its commercial loan portfolio.

Among these, Metrobank allocated P326.47 billion to transport, heavy manufacturing and public infrastructure. It also disbursed P214.08 billion for sustainable urbanization and housing.

The lender’s sustainable energy and housing portfolio included P158.2 billion in loans for power and energy-related projects as well as P202.73 billion for small businesses and employment-generating industries to create sustainable livelihoods.

Under its environmental initiatives, Metrobank extended P8.5 billion in green loan principles-aligned financing for sustainable energy production and management projects, on top of the P23 billion raised in bond issuances.

It also disbursed P31.4 billion in commercial loans to improve water supply security.

In 2024, Metrobank raised P3.3 trillion for government economic programs, spent P7.8 billion on local suppliers and allocated 2.17 percent of its total loans to micro, small and medium enterprises.

Despite business growth, the bank reduced its overall energy consumption by two percent in 2024, primarily through efficiency improvements and the decommissioning of Metrobank Plaza, its former head office.

It also shifted more of its branch and office operations to renewable energy and began preparing to expand its greenhouse gas reporting.