RIZAL Commercial Banking Corp. (RCBC) has modified its sustainable finance framework to conform with existing global standards.

The Yuchengco-led bank said on Tuesday that the adjustments conformed with Securities and Exchange Commission (SEC) guidelines on eligible "blue" projects — those focusing on ocean and water sustainability — and International Finance Corp. (IFC) guidelines for blue finance.

Latest policies from the International Capital Market Association on green bond principles, social bond principles, and sustainability bond guidelines were also incorporated, it added.

The framework now adheres to green and social loan principles from the Loan Market Association, the Asia Pacific Loan Market Association, and the Loan Syndications and Trading Association and continues to conform with the Asean Capital Markets Forum's green bond, social bond and sustainability bond standards.

"We remain to be a catalyst for positive change through responsible finance, which can help contribute to the protection and restoration of our planet's invaluable ecosystems," RCBC President and CEO Eugene Acevedo said in a statement.

"The amended framework also reinforces our support in addressing societal needs toward sustainable development," he added.

RCBC said the framework was modified under the guidance of Sumitomo Mitsui Banking Corp. and Singapore Sustainability Solutions Group APAC.

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