Security Bank advances sustainability journey to deliver meaningful stakeholder impact

MANILA, Philippines — Security Bank continues to “walk the talk” when it comes to sustainability. In line with its mission to enrich lives, empower businesses and build communities sustainably, the Bank made significant advancements in its sustainability journey last year, and has ambitious plans for 2024.

Just this month, the Bank launched its new Wave Mastercard—the first local credit card made from 100% recycled PVC as certified by the ICMA Ecolabel Standard. 

Last year, the Bank’s Board of Directors approved the Sustainable Finance Framework (SFF) to support its sustainability commitments and articulate how to raise Green, Social, or Sustainability Bonds, Loans and other debt instruments.

With its SFF, the Bank will fund projects that meet specific eligibility criteria in areas such as clean transportation, renewable energy, healthcare, education and job creation, to name a few.

SB Capital Investment Corporation, the Bank’s investment banking arm, played a pivotal role in the financing of ACEN Corporation’s P10 billion ASEAN Green Fixed Rate Bonds, which represented one of the highest percentages of renewables in its portfolio. This won the Renewable Energy Programme-Philippines award at the ESGBusiness Awards.

Security Bank no longer finances new coal-fueled power plants, and has committed to completely exit from coal project financing by 2033.

At Security Bank, sustainability is deeply embedded into the organization.

In 2023, over 8,400 employees completed sustainability-related education and engagement programs. Its award-winning Future of Work (FoW) hybrid arrangement has helped the company attract top-notch talent from across the country—and keep them engaged and happy with less time and money spent on fuel-guzzling commutes. 

The Bank has also started renovations to create more conductive and collaborative workspaces for those coming in to the office. Moreover, its two main office buildings in Makati City have transitioned to 100% renewable energy power, as certified by ACEN. As of December 2023, three branches have been equipped with solar panels and seven more branches are on track in 2024.

Another key aspect of the Bank’s approach to sustainability