Banco De Oro

Banco De Oro: Carbon Emissions and Climate Commitments

Banco De Oro (PH), operating in financial intermediation services (excluding insurance and pension funding), reported the following greenhouse gas (GHG) emissions:

For the year 2025, the total reported GHG emissions were approximately 18.13 billion kg CO2e. This figure comprises:

• Scope 1 emissions: approximately 1.71 million kg CO2e
• Scope 2 emissions: approximately 33.81 million kg CO2e
• Scope 3 emissions: approximately 18.13 billion kg CO2e

In 2024, total GHG emissions were approximately 57.29 million kg CO2e, broken down as:

• Scope 1 emissions: approximately 2.02 million kg CO2e
• Scope 2 emissions: approximately 35.38 million kg CO2e
• Scope 3 emissions: approximately 34.89 million kg CO2e

For 2023, the total emissions were approximately 70.12 million kg CO2e, consisting of:

• Scope 1 emissions: approximately 1.24 million kg CO2e
• Scope 2 emissions: approximately 66.78 million kg CO2e
• Scope 3 emissions: approximately 2.62 million kg CO2e

Climate Commitments and Reduction Targets

Banco De Oro has made significant commitments to address climate change. The bank has a long-standing practice, in place since 2019, of not lending to new coal-fired power plant capacity. Furthermore, through its Energy Transition Finance Statement in 2022, BDO committed to:

• Cease lending to new coal-fired power plant capacity.
• Reduce its coal exposure by 50% by 2033.
• Ensure that its coal exposure does not exceed 2% of its total loan portfolio by 2033.

Additionally, various entities under the BDO umbrella have set Science Based Targets (SBTi). For instance, BDO LLP has committed to reach net-zero GHG emissions across its value chain by FY2050. Near-term targets include a 50% reduction in absolute Scope 1 and 2 GHG emissions by FY2030 from a FY2020 base year. For Scope 3, BDO LLP aims for an 80% of suppliers by emissions to have science-based targets by FY2027, and a 97% reduction in Scope 3 GHG emissions per full-time employee by FY2050. Other BDO entities, such as BDO Oy and BDO Singapore, have also established near-term and long-term reduction targets aligned with the 1.5°C pathway, including specific reductions for Scope 1, 2, and 3 emissions and a commitment to net-zero by 2050.