RCBC Starts Collecting Data on Portfolio's GHG Emissions
YUCHENGCO-led lender Rizal Commercial Banking Corp. (RCBC) said on Wednesday it started collating data on greenhouse gas emissions of its loan portfolio as part of its environmental and sustainability commitment. Armi M. Lamberte, first vice president and head of portfolio quality division of the bank, said RCBC is ramping up efforts to lower its carbon footprint.
Lamberte said that as a participant to the Partnership for Carbon Accounting Financials (PCAF), RCBC must disclose the GHG emissions of its portfolio within three years from joining the organization.
“We are now in the process of collating data on GHG emissions of our own loan portfolio,” she said.
RCBC is the first local bank to participate in PCAF, an initiative among financial institutions worldwide to enable harmonized assessments and disclosures of GHG emissions financed by loans and investments. RCBC completed the PCAF onboarding training program in early October last year.
“RCBC’s participation in PCAF is a decisive step in understanding the climate impact of the businesses that the bank supports,” Lamberte said.
Portfolio monitoring is a central component of RCBC’s sustainability initiatives. Other than the participation in PCAF, the bank has embarked on another pioneer capacity-building activity last year by enabling it to contribute to the Philippine commitment to the Paris Agreement.
This involves the bank’s advisory engagement with the International Finance Corporation for the use of the Paris Agreement Capital Transition Assessment, or “Pacta,” tool, the first to be conducted by the International Finance Corp. in Asia.
The results of the Pacta evaluation will be integrated into its environment and social stress testing results that will be reported to the Bangko Sentral ng Pilipinas.
The bank distributed sustainability infographic materials to its corporate clients and suppliers, aimed at promoting awareness of environmental protection, including reduction of GHG emissions and carbon footprint, water conservation and the integration of environmental responsibility into their operations.