ING has been named Philippines International Green Financing Bank of the Year at the Asian Banking & Finance Wholesale Banking Awards 2026, recognizing its role in arranging some of the country’s largest sustainability-linked bond issuances as demand for ESG financing continues to grow.
The recognition comes as the Philippine sustainable finance market expands, with green, social, and sustainability bond issuances from non-sovereign issuers growing from US$6.7 billion to US$10.9 billion, according to figures cited by ING.
The bank said it acted as arranger for 36% of green, social, and sustainability bond volumes issued by Philippine non-sovereign entities during the period, while also serving as sole sustainability coordinator for many of the transactions.
ING backs major ESG bond issuances
Martijn Hoogerwerf speaks at the Asian Banking & Finance Wholesale Banking Awards 2026, where ING was named Philippines International Green Financing Bank of the Year.
Among the transactions highlighted by the bank was BDO Unibank’s ₱115-billion ASEAN Sustainability Bond, the largest corporate sustainability bond ever issued in the Philippines and the country’s largest peso-denominated bond listed on the Philippine Dealing & Exchange Corp. (PDEx).
The Dutch bank also served as sole sustainability coordinator and sole arranger for the issuance, which was 23 times oversubscribed from its initial ₱5-billion offering.
Proceeds from the bond will finance projects under BDO’s Sustainable Finance Framework, covering areas such as renewable energy, blue economy initiatives, gender-focused projects, and other sustainability programs.
The bank also participated in several other major ESG transactions, including:
- Philippine National Bank’s ₱15.7-billion ASEAN Sustainability Bond, where ING served as joint lead arranger and bookrunner.
- Rizal Commercial Banking Corp.’s US$350-million sustainability bond, which attracted more than US$1 billion in investor demand.
- Bank of the Philippine Islands’ ₱50-billion SIGLA Social Bond, the bank’s largest peso-denominated bond issuance to date.
According to ING, these transactions reflect continued investor appetite for sustainability-linked investments in the Philippine market.
Beyond bond issuance
Deric Lau, ING’s head of Working Capital Solutions for Asia Pacific, speaks at the Asian Banking & Finance Wholesale Banking Awards 2026.
Apart from arranging ESG bonds, ING said it has also been helping companies develop sustainable finance frameworks that meet international standards.
Among them is SteelAsia Manufacturing Corp., which received a “Very Good” SQS2 sustainability quality rating from Moody’s for its Sustainable Finance Framework.
The bank said advisory work has become increasingly important as companies seek to access sustainable financing while aligning with evolving global ESG standards.
“We are honored to receive this recognition, which reflects the strength of our sustainable finance franchise in the Philippines,” said Jun Palanca, country manager of ING Philippines.
“Our focus is on delivering well-structured ESG financing solutions while supporting the continued development of the local capital markets.”
Growing role of sustainable finance
The award highlights the growing role of sustainable finance in the Philippines as banks, corporations, and investors increasingly tap ESG-linked instruments to fund renewable energy, sustainable infrastructure, social development, and other transition projects.
For financial institutions, sustainable finance has evolved beyond a niche offering into a key segment of the country’s capital markets, supported by growing investor demand and a broader push toward responsible investing.
