The Manila Electric Company (Meralco) and the Bankers Association of the Philippines (BAP) have teamed up in advocating the adoption of energy efficiency in the banking sector.
In a Power Up forum recently organized by Meralco and BAP, BAP Managing Director Benjamin P. Castillo emphasized the importance of introducing sustainable energy practices in banks’ day-to-day operations.
“As is generally known, electricity is a substantial operational expense for banks, particularly those with big branch networks and data centers. Managing energy expenses correctly can enhance profitability and competitiveness and implementing energy-efficient techniques can drastically cut operational costs for banks,” Castillo said.
The forum, which aims to empower the banking industry, was attended by facility and property managers and sustainability officers of 11 banks including Rizal Commercial Banking Corporation, Philippine National Bank, Metrobank, PBCom, among others.
Discussions centered on sustainable business particularly on how financial institutions can achieve their sustainability goals through efficient management of power.
