A P4 billion has been secured by PLDT from Metropolitan Bank & Trust Co. — its first-ever green loan from a local financial institution.
The major telecommunication provider said Tuesday that the proceeds will be used to bankroll nationwide expansion its fiber footprint.
Global best practices
“PLDT’s active participation in the growing domestic market of sustainable finance is a demonstration of our adherence to global best practices in pursuit of sustainable profitability,” PLDT chief financial officer and chief risk management officer Danny Yu said.
“We are encouraged by the financial community’s support of the Bangko Sentral ng Pilipinas’ advocacy for sustainable financing as we continue to explore various ways to green our operations.”
“Our partnership with Metrobank reinforces our commitment to broaden our sustainable financing portfolio,” Yu added.
The PLDT network utilizes energy-efficient fiber-optic technology, which consumes less energy than traditional copper-based infrastructure, even for long-distance data transmission.
This reduces operational costs while also supporting the PLDT Group’s decarbonization goals.
Greenhouse gas emission reduction
The group aims to reduce its Scope 1 and Scope 2 greenhouse gas emissions by 40 percent by 2030, compared to 2019 levels.
To meet this ambitious target, PLDT is exploring the integration of renewable energy sources, green technologies, and resource optimization initiatives.
“Securing another Green Loan facility for PLDT showcases our commitment to integrate sustainability in every facet of our operations, and underscores our holistic approach to environmental stewardship and responsible business practices,” PLDT chief sustainability officer Melissa Vergel de Dios said.
As of March, the company boasts an extensive fiber infrastructure exceeding 1.1 million cable kilometers.
The infrastructure spans more than 200,000 kilometers of international fiber and over 900,000 cable kilometers of domestic fiber, enabling seamless internet delivery services.