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Chinabank Head Office and Binondo Business Center now powered by renewable energy

Posted by SM Supermalls on January 24, 2025

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(From left)  From Chinabank: Institutional Banking Segment's Account Officer Marco Panajon and FVP Alfredo Manuel Moreno, Chief Finance Officer Patrick Cheng, and Chief Sustainability Officer William Quesang; From ACEN RES:  SVP for Market Transformation & Retail Tony Valdez, AVP for Legal, Governance and Compliance John Henry Liquete, and Senior Account Managers Ann Gabrielle Joseph and Elisah Jacob-Cabato.

Chinabank had shifted its two main facilities to clean energy, reducing carbon emissions and contributing to the development and utilization of renewable energy in the Philippines.

The bank entered into a retail supply contract with ACEN Renewable Energy Solutions (ACEN RES) under the Green Energy Option Program (GEOP). Since November 26, 2024, ACEN RES has been supplying the Chinabank Head Office in Makati City and Binondo Business Center in Manila with energy generated from renewable resources—solar, wind and some geothermal—while keeping Meralco as its electricity distributor. 

To celebrate the shift, Chinabank was presented by ACEN RES with its ‘Powered by Renewable Energy’ seal. The turnover ceremony was held on January 21, 2025 at the Chinabank Head Office.  

“As part of our sustainability initiatives, it is essential that we consider the environmental impact of our operations and actions,” Chinabank President and Chief Executive Officer Romy Uyan said. “This switch marks a significant milestone in CBC’s transition to renewable energy as we endeavor to reduce not only our carbon footprint but also contribute towards the country’s transition away from imported energy.”

The facilities’ shift to 100% renewable energy from ACEN RES is expected to reduce Chinabank’s indirect Greenhouse Gas Emission by almost 20% or roughly about 3,300 Metric Tons of CO2 equivalent.

GEOP is a voluntary policy mechanism under the Renewable Energy Act of 2008, which aims to contribute to energy sustainability and promote further competition in the electricity sector. The program provides electricity end-users with an average peak demand of at least 100 kilowatts for the past 12 months, the option to switch to renewable energy sources and choose their own renewable energy supplier. Under the GEOP, electricity end-users are provided with tax incentives.

Committed to sustainability, Chinabank was distinguished by The Asset for its excellence in environmental, social, and governance (ESG) practices. The bank is also recognized by TIME Magazine as one of the World's Best Companies for 2024 in terms of employee satisfaction, revenue growth, and ESG performance.

ACEN RES is the retail arm of ACEN Corp., the energy platform of the Ayala Group, which has around 4,800 megawatts of attributable capacity across its facilities in the Philippines, Vietnam, Indonesia, India, and Australia.

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