THE Bank of the Philippine Islands (BPI) on Wednesday said it received confirmation from the Securities and Exchange Commission (SEC) that its 1.5-year peso fixed-rate bonds due 2024 will qualify as Asean social bonds.

Asean social bonds are an emerging class of investments developed by the Asean Capital Markets Forum to support the region's need for sustainable development instruments. Bonds carrying this classification have been independently verified to have systems in place to ensure that proceeds raised will be directed toward projects that benefit society. This gives bondholders confidence that their investments will be used to make a positive social impact.