Banco De Oro

Banco De Oro (BDO) Carbon Emissions and Climate Commitments

Banco De Oro (BDO), headquartered in the Philippines and operating within the financial intermediation services sector, has outlined its approach to carbon emissions and climate commitments. While specific absolute emissions figures for BDO itself are not consistently provided across all scopes and years in the provided data, the company has engaged in various initiatives and set targets aligned with global climate goals.

Emissions Data:

• 2025: Total emissions were approximately 18.16 billion kg CO2e, comprising Scope 1 at around 1.71 million kg CO2e, Scope 2 at approximately 33.81 million kg CO2e, and Scope 3 at about 18.13 billion kg CO2e.
• 2024: Total emissions were approximately 35.27 million kg CO2e, with Scope 1 at around 2.02 million kg CO2e, Scope 2 at approximately 35.38 million kg CO2e, and Scope 3 at about 34.89 million kg CO2e.
• 2023: Total emissions were approximately 70.39 million kg CO2e, with Scope 1 at around 1.24 million kg CO2e, Scope 2 at approximately 66.78 million kg CO2e, and Scope 3 at about 2.62 million kg CO2e.
• 2022: Total emissions were approximately 74.87 million kg CO2e, comprising Scope 1 at around 500,000 kg CO2e, Scope 2 at approximately 71.49 million kg CO2e, and Scope 3 at about 2.88 million kg CO2e.
• 2021: Total emissions were approximately 70.72 million kg CO2e, with Scope 1 at around 430,000 kg CO2e and Scope 2 at approximately 70.29 million kg CO2e. Scope 3 data was not disclosed for this year.
• 2020: Total emissions were approximately 51.14 million kg CO2e, comprising Scope 1 at about 66,000 kg CO2e and Scope 2 at approximately 51.07 million kg CO2e. Scope 3 data was not disclosed for this year.
• 2019: Scope 1 emissions were approximately 118,000 kg CO2e and Scope 2 emissions were about 70.55 million kg CO2e, resulting in a combined total of approximately 70.67 million kg CO2e. Scope 3 data was not disclosed.
• 2018: Scope 1 emissions were approximately 66,000 kg CO2e and Scope 2 emissions were about 66.48 million kg CO2e, totalling approximately 66.55 million kg CO2e. Scope 3 data was not disclosed.

It is important to note that Scope 3 emissions reporting has become more comprehensive in recent years, leading to significant increases in reported totals.

Climate Commitments and Reduction Targets:

Banco De Oro has established several climate-related commitments and targets:

• Net-Zero Ambition: BDO LLP (across various entities) commits to reaching net-zero GHG emissions across its value chain by 2050.
• Coal Exposure Reduction: Since 2019, BDO has maintained a practice of not lending to new coal-fired power plant capacity. By 2033, the bank aims to reduce its coal exposure by 50%, ensuring it does not exceed 2% of its total loan portfolio.
• Science-Based Targets: Multiple BDO entities have committed to setting emissions reduction targets in line with the Science Based Targets initiative (SBTi). These include:
  • Near-Term Reductions: Commitments to reduce absolute Scope 1 and 2 emissions by varying percentages (e.g., 50% by 2030 from a 2020 base year, or 42% by 2030 from a 2023 base year) and Scope 3 emissions (e.g., 97% per full-time employee by 2050, or 42% within a specified timeframe).
  • Long-Term Reductions: Targets to reduce absolute Scope 1 and 2 emissions by significant percentages (e.g., 90% by 2050 from a 2020 or 2023 base year).
  • Supplier Engagement: A commitment that 80% of suppliers, by emissions, will have science-based targets by 2027.

These commitments reflect BDO's dedication to contributing to global efforts to mitigate climate change and transition to a low-carbon economy.