BDO Unibank, Inc. received the Bronze Award in the First Time Reporter category at the prestigious 5th Asia Sustainability Reporting Awards (ASRA)—the only awarded Philippine bank this year.
The First Time Reporter award is given to inaugural and well-rounded sustainability reports that demonstrate the company’s long-term approach to integrating sustainability practice into its business operations.
Winning entries in the category are judged on “strategic approach to sustainability, meaningful and relevant leadership opening statement, coverage of all significant sustainability impacts of the business, approach to stakeholder engagement, and clear presentation of multi-year sustainability performance results.”
BDO’s award-winning report affirms the bank’s leadership in sustainability reporting and commitment to creating long-term value for stakeholders.
Banking and Sustainability
BDO’s Sustainability Report, released last year, outlines the bank’s economic, environmental, social, and governance performance in 2018. It shows how BDO stays true to its sustainability philosophy to achieve resilience by incorporating sustainability in the way it does business and to embed sustainability principles in its decision-making, relationship assessment, and product development processes.
Prepared in accordance with the Global Reporting Initiative (GRI) Standards, the report also details how the financial institution does its part in being a positive force for progress, opportunity, and sustainability in the communities it serves.
“Banking and financial services play a critical role in helping drive sustainable development. Our ability to provide financial access to the majority of the population is vital in creating a more equitable society. By leveraging on our resources, we strive to be the country’s partner for social progress,” says Nestor Tan, president and chief executive officer of BDO.
The non-profit ASRA is organized annually by Singapore-based CSRWorks International. This year’s winners were selected from 461 entries from 16 countries in Asia. It saw 80 shortlisted companies from 13 countries competing in the finals across 19 awards categories.
Rajesh Chhabara, managing director of CSRWorks International and the founder of ASRA, said: “The unprecedented global pandemic caused by COVID-19 is a stark reminder that businesses, governments and societies need to work together to build mutual resilience. Adopting responsible environmental, social, and governance practices has become ever more essential to ensure corporate sustainability.”
Besides BDO, three other Philippine companies were honored at the ASRA, including SM Investments Corporation, which received a Bronze Award in the Asia’s Best Sustainability Report (Digital) category.
“We have a strong commitment to sustainability. Environmental, Social, and Governance (ESG) standards and practices are at the core of how we run our business because they are aligned with our ‘We Find Ways’ service philosophy. These principles remain our cornerstone as we continue to evolve to serve the needs of our clients and contribute to social progress,” said Teresita Sy Coson, chairperson of BDO.