RCBC phasing out coal investments by 2031

By Mayvelin U. Caraballo

Mar 31, 2022 12:14 am

LISTED Rizal Commercial Banking Corp. (RCBC) announced it plans to wipe out its remaining existing exposure to coal-fired power plant construction by 2031.

'As part of RCBC's commitment to the environment and to the world we all live in, we are phasing out lending to coal-fired power plants by 2031,' Eugene Acevedo, RCBC president and chief executive officer, was quoted as saying in a statement on Wednesday.

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