TAGUIG, Philippines, Nov. 22, 2023 /PRNewswire/ -- The Asia Corporate Excellence & Sustainability Awards (ACES) 2023, which is organized by MORS Group, has listed anew the Rizal Commercial Banking Corp. (RCBC) among the "Top Community Centric Companies in Asia."
Rizal Commercial Banking Corporation [RCBC| remains at the forefront of Sustainable financing, supporting communities through renewable energy projects, among others.
The pronouncement by ACES, a prestigious award-giving body that recognizes top leadership and sustainability players across Asia, was made last September 2023.
Since its inauguration in 2014, the ACES Awards has awarded over 331 companies, with a combined investment of $16.5 billion in sustainability and revenues of $1.23 trillion, across 17 countries within the region.
This achievement underscores RCBC's strong commitment to fostering a sustainable community and its dedication to making a positive impact in the Philippines. The award recognizes companies whose efforts are "aligned with core business activities and designed to promote independent, socioeconomically self-sufficient communities." In 2021, ACES also named RCBC as one of the Top Community Centric Companies in Asia.
In its 2023 evaluation report, ACES highlighted the integration of sustainability in the Bank's core business, including through risk governance and sustainable finance. The report also commended the incorporation of ESG considerations as part of RCBC's business operation across its value chain given its disclosure of financed emissions as well as its target for the renewable energy portfolio to outpace its coal exposure by the end of 2024.
The ACES evaluation report also acknowledged how RCBC's community-focused initiatives closely align with its sustainability strategy with a particular emphasis on enhancing digital financial inclusion services and empowering the unbanked and underserved in the country. These products – including Rizal MicroBank's lending programs, DiskarTech, Go Digital, and ATM Go – not only promote financial inclusion but also encourage innovations that are key to sustainable economic growth.