BPI encourages Filipino businesses with financing for energy efficient practices

Bank of the Philippine Islands (BPI) is eyeing hospitals, manufacturing facilities, hotels, shopping malls and other business establishments with huge potential for energy-efficiency initiatives to achieve 20-50% energy savings.

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Jo Ann Eala, BPI Head of Sustainable Energy Finance (SEF), which helps clients initiate and manage sustainable business innovations, said there are enormous opportunities for boosting a company’s bottom line via energy cost savings because the Philippines is among those with the most expensive electricity in Asia and the world.

“Innovations target energy efficiency to lower production costs and make Philippine companies more competitive,” said Eala. “There is a strong demand for new technologies because of the growth in energy-intensive business sectors which continue to enjoy the impact of the country’s economic growth.

BPI’s Specialized Lending Team (SLT), through its Sustainable Energy Finance (SEF) program, encourages businesses to turn their facilities into energy-saving, low-carbon, and environmentally-friendly structures, all while increasing efficiency, lowering costs, boosting profits, and becoming more competitive as they protect the environment.

Eala said hospitals and hotels and other businesses which operate 24/7 have a very high potential for energy savings. Business process outsourcing companies (BPOs) and manufacturing facilities also have huge energy requirements. One key legislation spurring demand for environment friendly innovations is the Philippine Green Building Code, which requires buildings to follow minimum standards for energy efficiency, water efficiency, waste management, indoor air quality, site sustainability, and greenhouse gas emissions, among others.

“As part of BPI’s sustainable loan package, BPI clients can request for help in evaluating the viability of project proposals and assessing accuracy of financial and technical projections,” said Eala. “Private companies do not necessarily have the ability to start, operate, and manage green innovations and projects. They are not assured of technical success and financial viability just because they are shifting to green technologies. This is why BPI has a Sustainable Energy Finance team to help its clients achieve success in their green initiatives. BPI has the experts in energy efficiency, and the ability to provide financing for such projects,” she added.

BPI has pioneered sustainable energy financing in the local banking industry, having set up a dedicated SEF team for this promising segment in 2008. BPI, however, has the advantage of having the experts, who can advise clients on what to do, and the loan products that fit the needs and requirements of such specialized projects.

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