Conglomerate Ayala Corp. said Tuesday it signed a P5-billion sustainability-linked credit facilities with Japan’s MUFG Bank Ltd. (MUFG) and Sun Life Philippines.
Ayala said in a statement the deal would help finance the group’s general corporate requirements and investments in sustainability-related projects.
Ayala chief sustainability and risk officer Jaime Urquijo and AC chief finance officer Alberto de Larrazabal said the sustainability deal, a pioneering transaction, would enable Ayala achieve its target of net zero gas emissions by 2050.
“As AC celebrates its 190th year of existence, our children’s children will look back at this day and say that we pioneered a credit facility that will support environmentally and socially sustainable economic activity and growth,” he said.
The sustainability linked-credit facilities are aligned with the sustainability goals of MUFG, Japan’s largest bank, and Sun Life Philippines, the country’s first and longest-standing life insurer.
They are also in line with Ayala Group’s value creation framework that is anchored on its commitment to sustainability.
“MUFG’s role as the sole sustainability coordinator for this transaction underpins AC’s trust in our established sustainability-related projects. We are honored to have cultivated a long working relationship with AC over the years. AC has been very forward thinking in their sustainability journey and we are grateful to be partnering them on this milestone,” MUFG Asia Pacific head of ESG finance Colin Chen said.