The Manila Electric Company (Meralco) and the Bankers Association of the Philippines (BAP) have teamed up in advocating the adoption of energy efficiency in the banking sector.

In a Power Up forum recently organized by Meralco and BAP, Benjamin P. Castillo, BAP managing director, discussed the importance of introducing sustainable energy practices in banks' day-to-day operations.

"As is generally known, electricity is a substantial operational expense for banks, particularly those with big branch networks and data centers. Managing energy expenses correctly can enhance profitability and competitiveness and implementing energy-efficient techniques can drastically cut operational costs for banks," Castillo said.

The forum, which aims to empower the banking industry, was attended by facility and property managers and sustainability officers of 11 banks including Rizal Commercial Banking Corporation, Philippine National Bank, Metrobank, and PBCom, among others.

Discussions centered on sustainable business, particularly on how financial institutions can achieve their sustainability goals through efficient management of power.

Meralco has made managing energy efficiency easier for banks through its wholly-owned subsidiary, MServ, which provides end-to-end services including energy audits and maintenance of equipment in the facility. In addition, businesses were urged to take advantage of MServ's Energy Efficiency 360, an online platform that allows users to track data related to energy consumption.

Other practices cited that could help banks in achieving energy efficiency include switching to LED bulbs from CFL lights, which can yield monthly savings of up to P5,000 for every 100 bulbs; and using motor controllers when demand is low, like those used in escalators that slow them down when not in use.

As part of the sustainable thrust of the forum, Meralco also tackled programs that banks can adopt in their operations, including the government's Green Energy Option Program (GEOP) which allows consumers to tap renewable energy for their business operations.

The financial institutions were also urged to marry sustainability and efficiency through electric vehicle adoption and solar photovoltaic installations offered by Meralco subsidiaries Movem and MSpectrum, respectively.