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Photos shows (from left) Chinabank officials led by institutional banking segment’s account officer Marco Panajon, FVP Alfredo Manuel Moreno, chief finance officer Patrick Cheng and chief sustainability officer William Quesang receiving the ‘Powered by Renewable Energy’ seal from ACEN RES SVP for market transformation and retail Tony Valdez, AVP for legal, governance and compliance John Henry Liquete as well as senior account managers Ann Gabrielle Joseph and Elisah Jacob-Cabato during a turnover ceremony held on Jan. 21.
STAR / File
MANILA, Philippines — Sy-led China Banking Corp. is accelerating its shift to clean energy as two of its facilities are now powered by renewable energy, contributing to the reduction of carbon emissions in the country.
Chinabank said it entered into a retail supply contract with ACEN Renewable Energy Solutions (ACEN RES) under the Green Energy Option Program (GEOP).
Since November last year, ACEN RES has been supplying the Chinabank head office in Makati and Binondo Business Center in Manila with energy generated from renewable resources — solar, wind and some geothermal — while keeping Manila Electric Co. as its electricity distributor.
To celebrate the shift, ACEN RES recently presented by Chinabank with its ‘Powered by Renewable Energy’ seal during a turnover ceremony held on Jan. 21.
“As part of our sustainability initiatives, it is essential that we consider the environmental impact of our operations and actions,” Chinabank president and CEO 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,” Uyan said.
According to Chinabank, the facilities’ shift to 100 percent renewable energy from ACEN RES is expected to reduce the bank’s indirect greenhouse gas emission by almost 20 percent or roughly about 3,300 metric tons of carbon dioxide.
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.
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.
