In a statement, the Sy family-controlled banking giant noted that San Miguel is a key player in the Philippine economy, contributing an estimated 6% to national economic output, and was the only Filipino company to make it to the top ten of Fortune Magazine's inaugural Southeast Asia 500 list in 2024.
BDO said that it is also supporting San Miguel aims to achieve a fully sustainable supply chain by 2040 and net-zero emissions by 2050.
"At San Miguel, we are committed to building a future where the environment, our people, and the economy collectively thrive,” the bank quoted San Miguel chairman and CEO Ramon Ang as saying. “With BDO's invaluable support, we are able to advance projects that are at the forefront of nation-building, ensuring a better future for every Filipino.”
“We are grateful for partners like BDO, who share our vision for a sustainable, progressive Philippines for all,” the head of the country’s largest conglomerate said.
BDO said it has been a crucial partner in these efforts, particularly as the anchor lender for San Miguel Global Power Holdings Corporation’s Battery Energy Storage System (BESS), one of the world’s largest integrated systems with 32 facilities providing 1,000 megawatt hours of capacity nationwide.
This project enhances the stability of renewable energy, aligning with the country’s goal of sourcing 35% of its energy from renewables by 2030.
BDO also plays a significant role in financing San Miguel’s major infrastructure projects, such as the Metro Rail Transit Line 7 (MRT-7) and the third stage of the Metro Manila Skyway project.
Other projects financed by BDO, including the Tarlac-Pangasinan-La Union Expressway, create jobs and stimulate economic activities, showcasing the bank's role in advancing the country’s infrastructure, it said.
These projects are part of the government's “Build Better More” program and are expected to ease traffic congestion, reduce travel time, and create jobs.
BDO’s efforts have been recognized at the Asset Triple A Sustainable Infrastructure Awards and the 9th Investment House Association of the Philippines Awards 2024, where it earned accolades for its financing of San Miguel’s BESS and MRT-7 projects.
