How RCBC ramps ups climate action efforts
The Rizal Commercial Banking Corp. (RCBC) continues to be at the forefront of Sustainability, taking critical steps in doing its part to fight global warming under the Paris Agreement.
RCBC’s Chief Sustainability Officer, Armi Lamberte, said the bank continues to adapt a forward-looking view of transition risk using available tools and data while also conducting its own internal research and assessments.
“This reinforces our commitment to responsible financing that actively supports the shift to a greener economy,” Lamberte said.
For the past three years, the bank has been using the Paris Agreement Capital Transition Assessment (PACTA) framework, a tool used by more than 1,500 financial institutions worldwide, to simulate how borrowers in climate-relevant sectors are positioned in various transition scenarios. These sectors, including power, oil and gas, steel, and transport, account for the majority of global greenhouse gas emissions.
In addition to PACTA, RCBC continues to lead by example in the Philippine banking sector through its participation in the Partnership for Carbon Accounting Financials (PCAF).As the only Philippine bank signatory, RCBC annually measures and discloses the greenhouse gas emissions tied to its loans and investments—providing transparency to stakeholders and sharpening its climate strategy.
These initiatives reflect RCBC’s broader mission to help clients transition to low-carbon operations while future-proofing its own portfolio. The bank’s approach is anchored not just on compliance, but on enabling long-term value creation in a world that’s rapidly moving toward sustainability.
Beyond risk assessments, RCBC has also taken concrete steps to support environmental sustainability through its financing activities. To recall, it was the first Philippine bank to issue an ASEAN-labeled Green Bond, raising capital specifically for projects in renewable energy, green buildings, and clean transportation.
The bank also implements its Sustainable Finance Framework (updated in February 2024) aligned with global standards, ensuring that proceeds are directed toward initiatives that create measurable environmental and social impact.
RCBC likewise integrates Environmental, Social, and Governance (ESG) principles into its lending decisions and in the process of establishing the appropriate baseline data and sufficient trend analysis for GHG emissions target setting. Through strategic financing, the bank has supported solar farms, hydropower, and other clean energy ventures across the country.
Currently the 5th largest privately-owned bank in the country, RCBC remains to be a leader in sustainable banking. The bank has been lauded as Best Bank for Sustainable Development Philippines at the 2024 Global Banking and Finance Awards, recipient of “3G Eco-friendly Financial Services Award 2024”,“3G Best Sustainability Framework Award 2024,” both at the 9th Global Good Governance Awards in April 2024; “Circle of Excellence Awardee for Sustainability Company of the Year” at the Asia CEO Awards 2024; and “The Asset Benchmarking Award for Excellence in Environmental, Social, and Governance (ESG) – Platinum Award, 2024” by the Asset ESG Corporate Award for three consecutive years.