Sun Life of Canada Philippines Inc. made its first investment in green bonds through the purchase of the first-ever Philippine peso-denominated Mabuhay Green Bonds issued by International Finance Corp.
The bonds set a precedent as the first green bond denominated in Philippine pesos and issued by a multilateral development institution.
“The Mabuhay Green Bonds are the first of its kind in the Philippines and Sun Life is proud to make its first investment with these bonds as we strengthen our commitment in supporting sustainability projects,” said SLOCPI chief investments officer Michael Gerard Enriquez.
Sun Life Philippines chief executive officer and country head Benedict Sison lauded the issuance of IFC’s Mabuhay Bonds, which he considers as a helpful vehicle that can help improve generation output of geothermal power plants and address climate change.
“As a company, we continue to look for opportunities to be able to participate more in infrastructure financing. This is one opportunity that we have sought to participate in and one that would definitely impact on our efforts to be a vital contributor to nation-building,” Sison said.