China Banking Corp. Shifts to Renewable Energy in the Philippines, Reducing Carbon Emissions

China Banking Corp. (Chinabank) is accelerating its transition to clean energy with two of its facilities now powered entirely by renewable sources. The bank entered into a retail supply contract with ACEN Renewable Energy Solutions (ACEN RES) under the Green Energy Option Program (GEOP).

Since November 2024, ACEN RES has been supplying energy to Chinabank’s head office in Makati and the Binondo Business Center in Manila. The energy, generated from solar, wind, and geothermal sources, is distributed through Manila Electric Co.

To mark this transition, ACEN RES awarded Chinabank with a “Powered by Renewable Energy” seal at a turnover ceremony held on January 21. Chinabank President and CEO, Romy Uyan, emphasized the importance of considering environmental impact in their operations, stating that this milestone is significant not only in reducing the bank’s carbon footprint but also in contributing to the Philippines’ shift away from imported energy.

The transition to 100% renewable energy is projected to reduce Chinabank’s indirect greenhouse gas emissions by nearly 20%, equating to an approximate reduction of 3,300 metric tons of carbon dioxide.

The Green Energy Option Program (GEOP), established under the Renewable Energy Act of 2008, allows electricity end-users with a peak demand of at least 100 kilowatts to switch to renewable energy sources and choose their own suppliers. Participants also benefit from tax incentives.

ACEN RES is the retail arm of ACEN Corp., the energy platform of the Ayala Group, which operates facilities across the Philippines, Vietnam, Indonesia, India, and Australia, with a total capacity of approximately 4,800 megawatts.