PLDT Inc. said Wednesday that it had secured a P1 billion green loan facility from HSBC Philippines to partially fund its ongoing fiber network expansion.

"The availability of sustainable financing facilities will help PLDT's commitment to ensuring long-term profitability by doing business responsibly. We are pleased to start this journey with HSBC and anticipate further expanding our sustainable financing portfolio with other sustainability projects," PLDT Chief Financial Officer Danny Yu said in a statement.

PLDT said that upgrading to fiber would help support its decarbonization roadmap, which aims to reduce greenhouse gas emissions by 40 percent until 2030.

The use of the loan was said to align with green loan principles, specifically on achieving energy efficiency through the use of fiber cables.

"PLDT's first-ever green loan facility is affirmation that our efforts to pursue the twin-goals of energy efficiency and reduced carbon emissions are appreciated and supported by the financial community," PLDT Chief Sustainability Officer Melissa Vergel de Dios said.

As of end-December 2023, PLDT had more than 1.1 million cable kilometers of fiber infrastructure, consisting of over 0.2 million cable kilometers of international fiber and over 0.9 million cable kilometers of domestic fiber.

PLDT's share price rose by P9 to P1,290 on Wednesday.