Philippine Long Distance Telephone Company (PLDT) has secured a green loan from Metropolitan Bank and Trust Co. (Metrobank) worth 4 billion pesos. The company confirmed that this is its first green loan secured from a local financial institution in a disclosure to The Philippine Stock Exchange recently. This is the company's second green loan in total, after its initial 1 billion pesos green loan.
Also Read: PLDT Trials 50 Gbps PON for Enhanced Speeds in Philippines
Green Financing for Digital Expansion
PLDT said similar to its first green loan, the loan proceeds are earmarked for the nationwide expansion of its fiber footprint, which will not only narrow the country's digital divide but also ensure a fast and reliable internet experience facilitated by an energy-efficient network.
"PLDT's active participation in the growing domestic market of sustainable finance is a demonstration of our adherence to global best practices in pursuit of sustainable profitability," said the chief risk management officer at PLDT.
"We are encouraged by the financial community's support of the Bangko Sentral ng Pilipinas’ advocacy for sustainable financing as we continue to explore various ways to green our operations. Our partnership with Metrobank reinforces our commitment to broaden our sustainable financing portfolio."
Also Read: Globe Telecom Secures PHP 15 Billion Loan for Network Expansion
Fiber-Optic Technology Advantages
PLDT noted that Fiber-optic technology is integral to its energy-efficient network, consuming significantly less energy than traditional copper-based infrastructure and requiring less power for data transmission over long distances while maintaining minimal degradation.
Decarbonization Roadmap Targets
The PLDT Group's decarbonisation roadmap aims to reduce its Scope 1 and Scope 2 greenhouse gas emissions by 40 percent by 2030, coming from a 2019 baseline.
Also Read: PLDT Rolls Out Fiber Internet in Island Garden City of Samal
PLDT
PLDT, which is the largest integrated telco in the Philippines, said as of end March 2024, it has over 1.1 million cable kilometers of fiber infrastructure, consisting of over 0.2 million cable kilometers of international fiber and over 0.9 million cable kilometers of domestic fiber.
