Security Bank Continues to Lead in Sustainability Initiatives
MANILA, Philippines — Security Bank has once again demonstrated its commitment to sustainability by making significant progress in its sustainability journey in the past year and setting ambitious goals for 2024.
The Bank recently unveiled its new Wave Mastercard, the first local credit card made from 100% recycled PVC, certified by the ICMA Ecolabel Standard.
In 2023, Security Bank’s Board of Directors approved the Sustainable Finance Framework (SFF) to support its sustainability goals, paving the way for funding projects in clean transportation, renewable energy, healthcare, education, and job creation.
The Bank’s investment banking arm, SB Capital Investment Corporation, played a key role in financing ACEN Corporation’s ASEAN Green Fixed Rate Bonds, earning recognition at the ESGBusiness Awards.
Security Bank has made a commitment to no longer finance new coal-fueled power plants and aims to exit coal project financing by 2033.
Sustainability is ingrained in the organization, with over 8,400 employees completing sustainability-related education programs in 2023. The Bank’s focus on diversity and inclusion has led to a workforce that is 66% female and over 55% of senior management positions held by female leaders.
The Bank’s dedication to sustainability has been acknowledged by MSCI with an upgraded ESG rating and inclusion in ATRAM’s Sustainable Development Growth Fund.
Looking ahead to 2024, Security Bank plans to enhance its sustainability initiatives, build internal capabilities, and continue its efforts to make a meaningful impact across various sectors.
For more information on Security Bank’s sustainability approach, visit: https://www.securitybank.com/sustainability.
