SECURITY BANK CORP. is the first Philippine lender to join a global green bank alliance founded and managed by the World Bank’s private sector arm, the International Finance Corp. (IFC).
The bank has joined the IFC’s Alliance for Green Commercial Banks, it said in a statement on Wednesday.
“Security Bank is proud to be the first Philippine bank to join the Alliance for Green Commercial Banks. This membership aligns with our vision to be the best-in-class in sustainable banking in the Philippines. Through the Alliance, we gain access to a global network of expertise that will help us enhance our ability to lead change within the Philippine banking industry and contribute meaningfully to the sustainable development goals,” Security Bank Executive Vice-President and Chief Financial Officer Eduardo M. Olbes said.
“Security Bank’s membership in the Alliance signals a powerful commitment from the Philippine banking sector to drive sustainable finance forward. The Philippines has immense potential for sustainable innovation. Security Bank’s leadership sends a strong signal that Philippine banks are ready to play a central role in shaping a greener, more resilient financial future — not only at home, but across the region,” Alliance for Green Commercial Banks Head of the Secretariat Carlos Serrano said.
The alliance is a by-invitation membership platform.
It aims to boost green commercial banking in emerging markets by bringing together financial institutions.
Its first regional chapter was established in Asia with the Hong Kong Monetary Authority serves as the regional anchor.
“The alliance promotes peer learning, innovation, and global knowledge exchange to address climate opportunities and risks to advance green finance,” Security Bank said.
“Security Bank’s membership reinforces its position as a sustainability-driven financial institution, committed to enriching lives, empowering businesses, and building communities sustainably through financial service excellence, while supporting the global climate agenda.”
In March, the bank joined the group’s inaugural flagship event in Hong Kong, the Excellence in Green Commercial Banking Immersion Lab, along with other member banks from the Philippines, Thailand, and Vietnam. — AMCS