PLDT secures PHP 4B in green financing

PLDT Inc. has secured PHP 4 billion in green financing from Metropolitan Bank and Trust Co. to finance its expansion.

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PLDT gets fresh green loan

This development came after the telco player also borrowed PHP 1 billion from the green facility of HSBC Philippines in March.

The company told the Philippine Stock Exchange that the funds would be used to fund the continuous expansion of its broadband assets across the country.

Under the deal, the firm has to minimize its carbon emissions for the duration of the project in compliance with the green loan.

According to PLDT chief financial officer and chief risk management officer Danny Yu, the firm would tap fiber optics for the said plan as they require less energy compared to copper-based counterparts.

PLDT is targeting to reduce its greenhouse gas emissions by 40 percent by 2030.

The company currently has a fiber network of 1.1 million kilometers, 900,000 of which are located in the Philippines.