The concept of sustainable value underpins all of our sustainability activities. By taking action to address our impacts today, we help our business thrive in the future.The Bank innovates for operational efficiency, to empower our people and society, to use resources efficiently, and to continue to build stakeholder trust focused on three main areas:
- Financial wellness – We help individuals, communities and businesses grow their funds and build their wealth by facilitating financial wellness opportunities, a range of innovative programs and more accessible investment options.
- Financial inclusion – We continually strive to widen our reach by developing products and services that address the needs and preferences of clients coming from low-income and underserved segments. We adhere to the ideals that true prosperity can only be achieved when everyone is involved.
- Sustainable development investments – We promote investments in industries that strengthen urban and countryside development. Advocating and advancing shared value financing, we also stimulate business innovation through cleaner, low carbon, and resource efficient technologies.
BPI also recognizes its role as a responsible financial institution, both as a resource user and generator of waste. In our business operations, we reduce our negative impact to the environment through responsible environmental leadership across the organization, making us more cost-effective and helping improve our margins.
The Bank’s policy on environmental responsibility starts from within, by adopting policies, standards and practices to make the workplace not just a conducive environment for work, but also a place that works better for the environment. We have put in place a system of tracking the environmental impact of our places of business. We also encourage our clients, suppliers and partners to reduce their environmental footprint.
Electricity is vital in our daily operations as it is used to run our offices and branches. To manage our resources more efficiently and save costs on utility, FSG commissioned a third-party energy audit to determine the management approach to the installation of LED lights and inverter-type airconditioning units in BPI offices and branches.
To date, we have completed the installation of LED lights and inverter-type air-conditioning units in 45% of all our branches. This has resulted in Php 14.4 million in total cost savings for LED lights and Php 3 million for aircons.
For 2018, electricity consumption increased by 2% from 2017. This may be attributed to the opening of 17 new branches and the increase in banking days for client engagement programs held on weekends.
Fuel consumption comes from the diesel for armored cars serving our Cash Centers and the fuel used for generator sets. From previous year’s data collection, fuel from generator sets was determined to be insignificant in the scale of our operations and hence, excluded in the fuel consumption computation.
Diesel fuel consumption as of June 2018 is 13,608 gigajoules. The Central Operations Group (COG) unit that oversees armored vehicles indicated that their contract with the armored car agency has changed from leased to outsourced, resulting to the shift of fuel management from BPI to the agency starting July 2018. This change in contract has resulted in the 51% decrease of the Bank’s fuel consumption and Scope 3 GHG emissions compared to 2017.
Our water consumption comes from pantry sinks, washrooms, and maintenance faucets in our offices and branches. The water used is sourced from water utility companies. For 2018, water consumption decreased by 1% from 2017.
Greenhouse Gas Emissions
Our greenhouse gas (GHG) emissions are under Scope 2 and Scope 3 of our GHG Protocol Corporate Standard. Scope 2 covers indirect emissions from the generation of purchased energy. Scope 3 emissions are indirect emissions not included in scope 2, which occur in the value chain of a company. GHG emission is computed based on the electricity consumption for Scope 2, and armored cars’ fuel consumption for Scope 3.
For 2018, our Scope 2 GHG emissions increased by 2.6% due to the increase of electricity consumption, and our Scope 3 GHG emissions dropped by 51% from 2017 due to the change in armored car fleet contract which has shifted management from BPI to the third party agency”.
The BPI Sustainability Office set up regular recyclable fairs to ensure the responsible disposal of paper, plastic, and electronic waste. This was participated by BPI head offices and branches within the Makati Central Business District. In total, 816 kilograms of plastic and metal waste, 7,114 kilograms of paper and carton waste, and 1,320 kilograms of electronic waste was turned-over to our partner recyclers. We also regularly participate in WWF’s Earth Hour through office-wide lights off and Earth Hour Challenge where employees are tasked to make joint commitments as an office to do earth-friendly activities. Learning Sessions and Sustainability Exposure Visits are also made available to employees for a hands-on learning experience about different sustainability issues.
The Centralized Operations Group, which oversees printing operations, has been closely working with the electronic Statement of Account (eSOA) Project team to fully implement the alignment of all paper products (SOA, Notices, Financial Statements, etc.) to the digitalization strategy. For 2018, this migration is still underway for BPI paper products. For BPI Family Savings Bank, which already has the eSOA for their credit cards, the total volume of eSOA released has increased by 18% from 2017.
Other sustainability initiatives of the bank may be read here.