PHILIPPINE BANKS MUST
WITHDRAW FROM COAL:
end fossil fuels
The Philippines has been rapidly increasing its exposure to coal and gas, and local banks are largely behind it.
These banks must stop investing in the climate crisis, and withdraw from fossil fuels!
WHICH PHILIPPINE
BANKS ARE FUELING THE CLIMATE CRISIS?
The list below shows the banks that financed coal and gas projects and how much they have loaned and underwritten during 2009 to March 2023.
Bank of the Philippine Islands
4,526.63
million USD
BDO Unibank
3,220.07
million USD
China Banking Corp.
1,934.94
million USD
Metrobank
1,908.94
million USD
Security Bank
1,868.39
million USD
RCBC
1,650.78
million USD
PNB
1,336.21
million USD
LandBank
1,169.17
million USD
Development Bank of the Philippines
480.59
million USD
UnionBank
293.46
million USD
Asia United Bank
166.2
million USD
Robinsons Bank
96.7
million USD
Bank of Commerce
59.4
million USD
EastWest Bank
29.43
million USD
PBComm
9
million USD
COAL IMPACTS
IN THE PHILIPPINES
BILLIONS LOANED
FOR COAL
15 Philippine banks were found to have channeled 13.42 billion USD worth of financial services to coal developers and projects.
BIG PLANS
FOR COAL
As of 2020, the Philippines ranks 7th among countries with the biggest coal pipelines.
TWO BANKS
FUNDING MOST COAL
Just 2 banks are responsible for nearly 50% of this: Banco De Oro and the Bank of the Philippine Islands.
PEOPLE DEMAND
CLEAN ENERGY
Stakeholders are demanding that Philippine banks withdraw from coal, and invest in our future instead.
PHILIPPINES VULNERABLE
TO CLIMATE IMPACTS
The Philippines is among the most vulnerable countries in the world to impacts of climate change, but it also is highly dependent on coal for its power, despite the fossil fuel’s role in triggering global temperature rise.
KILLER AIR POLLUTION FROM COAL
27,000 people are prematurely killed in the Philippines each year due to exposure to pollution from the burning of coal and other fossil fuels for power generation.
HARASSMENT OF ENVIRONMENTAL DEFENDERS
Coal proponents have reportedly engaged in instances of harassment, violence, and development aggression against indigenous community members and environmental defenders.
RENEWABLES
HAVE POTENTIAL
The Philippines has an abundant renewable energy potential that is more than enough to cover its national demand for power, which in 2019 peaked at 15.581 GW.
IN THE NEWS
25 APRIL 2021
ABOUT WITHDRAW FROM COAL: END FOSSIL FUELS
Withdraw From Coal: End Fossil Fuels is coordinated by a coalition of Filipino civil society groups, environmental advocates, and faith-based organizations. We urge Philippines banks to stop funding fossil fuels to help solve the climate crisis.
Bishop Gerry Alminaza | Bishop Broderick Pabillo