BDO UNIBANK CODE OF CONDUCT AND BUSINESS ETHICS

I. INTRODUCTION
The BDOUB Code of Conduct and Business Ethics (the Code) outlines the principles and
policies that govern the activities of the institution and sets forth the rules of conduct in our
work place and the standards of behavior of its directors, officers and employees in their
activities and relationship with external stakeholders. These reflect the core values the
institution subscribes to and promotes.

II. APPLICABILITY OF THE CODE

This Code applies at all times to all members of the Board of Directors and BDO Unibank
Group (the Bank and its subsidiaries and affiliates) employees in their dealings with clients,
suppliers, business partners and service providers.

III. COMMITMENT TO THE CODE

All directors and employees are required to acknowledge that they have read and
understood the Code stipulating their compliance with the standards and policies set forth
herein.

IV. RESPONSIBILITIES FOR THE WORK PLACE

a. Employment Practices
BDO is committed to fair employment practices without undue prejudice to race,
gender, ethnic origin, religion, age, or sexual orientation. Employees are treated fairly and
accorded with respect and dignity. It ensures that employment practices and policies are in
compliance with labor laws, regulations and standards in the countries where it operates.
Employees are selected, engaged, compensated and promoted, as the case may be, based
on the merits of qualification and performance.

b. Employees’ Welfare
BDO is committed to promote the physical, social and mental well-being of its
employees. It aims to provide a workplace free from discrimination and all forms of physical,
sexual and psychological abuse including harassment, bullying and intimidation. It is
committed to maintain a positive, harmonious and professional work environment with due
importance accorded to occupational health and safety of the employees and related
external parties.

V. CONDUCT RELATING TO CUSTOMERS AND EXTERNAL CONSTITUENCIES

 Customers, suppliers, service providers, business competitors or other external parties
with business dealings with BDO must be treated fairly and professionally.
 The institution strictly prohibits the solicitation and acceptance, directly or indirectly, of
any gift (including entertainment services or activities), gratuity, commission or any form
of payment from clients, business partners, suppliers and third party service providers in
connection to a service that may, in any way, influence the Director’s, Officer’s or
employee’s decision-making in exchange for any unnecessary favorable treatment.
  Likewise, the institution commits to comply with anti-corruption and bribery laws in all
jurisdictions it operates.
 BDO will not make political donations that may be interpreted as an attempt to encourage
favorable treatment of BDO and/or its directors and employees.
 Participation in publications, speaking engagements, media interviews and
advertisements need appropriate internal clearance.
 Due respect to privacy and confidentiality of dealings with customers shall be strictly
observed.
 Certain transactions or information shall not be made available to groups or individuals
within BDO where there may exist potential conflict of interest, more particularly between
credit and investment operations.
 All complaints from customers shall be handled with expediency in accordance with
internal rules and regulatory requirements on consumer protection.

VI. CONDUCT RELATING TO INVESTMENT AND OUTSIDE ACTIVITIES

 Trading in the securities of BDO Unibank and/or any member of the BDO Group,
whether listed or not while in possession of material non-public, price sensitive
information is not permitted and is considered illegal. All directors and employees of the
Bank must adhere to the Personal Trading Policy in their trading activities to prevent
violations of security laws and regulations and to preserve the good reputation of BDO in
the market place.
 Real and potential conflict of interest shall be avoided when investing in outside
business activities or accepting directorships in other institutions.
 Queries or complaints from stockholders shall be immediately referred to the designated
office or officials and resolved speedily in accordance with their rights.

VII. OBSERVANCE OF STANDARDS OF CONDUCT FOR INDIVIDUALS

Employees have the primary duty to comply with the following basic standards of
conduct in addition to office policies and work regulations.

1. Attendance
Attendance and punctuality are expected from all concerned in order to make
effective use of time and as a professional courtesy to others.
2. Integrity
Integrity, honesty and professional behavior are expected to be observed in all
dealings with customers, regulators, co-employees, and the public in general. Engaging
in fraud (directly or indirectly), or connivance and facilitation in committing fraud are totally
prohibited.
3. Office Decorum
Decorum must be observed to promote harmony and respect within the
organization and in dealing with external constituencies. Compliance to the prescribed
uniform wear or corporate attire, as applicable, shall be followed for clear identification
and to promote BDO’s image and values.
4. Responsible Behavior
 Responsible behavior and courtesy both within the organization and in public must
be observed at all times. The way we deal with customers and our demeanor in public
significantly contribute to the public perception of BDO as a reputable and professional
institution.
5. Disclosure of Information
Building and maintaining trust is a basic part of our relationship with customers and
shareholders. Unauthorized disclosure, use and passing on of sensitive/confidential
information is strictly prohibited. This applies to verbal, inferred or written disclosures.

All sensitive/confidential information obtained in the course of employment,

directorship, engagement of services or other work or business-related relationship with
BDO must not be divulged unless authorized in accordance with internal and regulatory
requirements and must not be used for any personal or financial gain. Compliance with
the applicable Information Security Risk policies of BDO and Data Privacy & Protection
Laws is enjoined.

The Law on Secrecy of Bank Deposits under R.A. 1405, as amended, which
generally prohibits the disclosure of any information pertaining to deposits of whatever
nature with banks and banking institutions in the Philippines, including investments in
bonds issued by the Philippine government, the confidentiality provisions under the
General Banking Law of 2000, and other related laws, rules and regulations, must be
strictly observed.

Customer relationships with BDO should be handled in strict confidence and

propriety. This likewise applies to bank manuals, reports and memoranda. All business
deals and transactions shall adhere to regulatory requirements and all applicable laws in
the countries, cities, and in the communities in which BDO, its branches, subsidiaries and
representative offices operate.

6. Acceptance/Solicitation of Gifts, Bribery and Corruption

Employees, suppliers, partners and other 3rd parties must avoid giving or receiving
gifts or entertainment if these might improperly influence the recipient’s decision making
or might be perceived to do so. They must not also offer or take any form of illegal or
improper payment.

7. Conflict of Interest
Directors and employees should act in a manner that will serve the best interest of
BDO and its shareholders. This requires that all business decisions and actions must be
aligned to the principles and values of BDO, and should not be driven by personal
motivations or influenced by personal relationships which may interfere in the exercise of
objective and independent judgment.

Any financial and personal interest or benefit in any transaction involving BDO must
be disclosed. When presented with a situation involving a potential conflict of interest, it
is necessary to disclose the possible conflict in writing to the Supervising Officer, in case
of officer or employee, or to the Board of Directors, in case of Director.

Disclosures against possible or perceived conflict of interest, may include, but need
not be limited to the following:
A. Interest in businesses
Any financial interest or management participation of an immediate family member
in the business of a supplier, competitor, or customers, whether publicly- listed or
privately held, should be disclosed.

B. Employment or engagement of services

Engagement by a supplier, contractor, or customer's business as a director, adviser,
officer, employee or consultant needs to be disclosed and requires approval of BDO.
Similar engagement of an immediate family member (parent, brother, sister, spouse,
child) shall likewise need to be disclosed.

C. Employment in another entity or in political office

This includes disclosure on engagement in another occupation or holding
concurrent position in a government, or political office or agency.

D. Political Activity
Active involvement in any political party or participating/engaging in a political
campaign should be disclosed and requires permission from BDO.

E. Relatives/Next of Kin
Disclosure should be made when a director or employee has a relative employed in
BDO. Management discretion shall be exercised to ensure that there will be no superior-
subordinate relationship between employed relatives or in a control function exercised
over the business unit of a relative.

Next-of-kin relationship should also be disclosed when it begins to exist with

another employee where one exercises superior-subordinate relationship or control
relationship with the employee.

Directors and employees are responsible for identifying, assessing and managing
conflicts of interest whether actual or potential that arises in their day to day work.

Full disclosure of any conflict of interest should be made on an annual basis or as

necessary, through the annual submission of the Conflict of Interest Disclosure Form
(Annex A) to BDO Unibank- Human Resources Group. Any disclosed potential conflict of
interest shall be forwarded by BDO Unibank- Human Resources Group to BDO Unibank
Compliance Office for evaluation. In case of doubt about the propriety of any course of
action or find that their own interests are or may be in conflict with those of the
institution, they must disclose and seek advice from the BDO Unibank- Human
Resources Group.
8. Outside Employment or Directorship
Full time employees should not take up any outside employment or directorship.
Written approval of the Group Head and the Human Resources Group is required prior
to acceptance of outside employment or directorship. The following scenarios are
covered:
Part-time jobs:
• Teaching or tutoring
• Consultancy
• Private practice of a profession
• Other similar activities that affect the availability of employees

Approval, which must be in writing, may be given to take up part-time directorship,

employment and other similar engagements only in circumstances where the interests of
BDO will not be prejudiced. Directors or officers who intend to run for government office
are required to tender resignation from BDO or the Board of Directors, as the case may
be, prior to formalizing or filing of candidacy. As soon as it comes to the knowledge of
BDO that they ran for public office, they shall be deemed resigned from BDO or the
Board of Directors, as the case may be.

9. Reporting Internal Fraud, Breach of the Code, or Other Unethical/Illegal Activities

BDO believes that the key to long-term sustainability and success largely depends
on having a good name and solid reputation in the industry. Any director or employee
who becomes aware of any violations of law, regulations or policies should report the
same to appropriate authorities, with protection from reprisal and discrimination.

Reporting of violations should be done in good faith and without malice. This is
embodied in the BDO Policy on Disclosure of Sensitive/Confidential Matters to
Management that governs the policies and procedures in handling of whistle blower
cases.

This helps to promote and maintain a culture of strong ethics, integrity, honesty,
accountability and transparency.

10. Media Contact

Only authorized individuals or parties shall be allowed to contact or talk to any
representative of the media (print, broadcast, wires, and online) on BDO matters. All
inquiries or contacts made by the media should be referred to BDO Marketing
Communications Group.

Similarly, the unauthorized creation of unofficial social media account bearing the
BDO brand or corporate name is not allowed.

11. Treatment of BDO’s Assets

 BDO’s assets (physical, financial or intellectual) may be used only for authorized
purposes. Directors and employees are also responsible for safeguarding BDO’s assets
to prevent loss, theft, destruction or unauthorized use. Any unauthorized use, or
unnecessary access, or destruction of BDO’s assets such as funds, property,
confidential data, information, equipment and/or systems, for personal gain or for
purposes of maligning or harming BDO, its directors, employees, shareholders and/or its
customers, or for any ill motive, including attempts thereto, shall be considered as a
violation of this Code and shall be dealt with accordingly. The Bank is the owner of all
information assets which include any bank data, information processes, computer and
communications equipment, application and system software, and tools and utilities that
store, process and transmit information.

Any personal information or data stored by the employee in any of the Bank’s
information resources shall be considered as Bank’s assets which may be inspected,
reviewed, or used as legal evidence when necessary. Integral to information security
and data protection, the Bank has the inherent right to inspect and review information in
the possession of directors or employees in instances where there is doubt on
unauthorized access, use, disclosure, disruption, modification, inspection, recording or
destruction of the Bank’s information assets. The bank shall ensure that proper
custodianship of information assets shall include compliance to all applicable laws and
regulations in providing access, storage and disposal of bank information.

12. Personal Finance Standards

As a financial institution, public confidence in BDO’s ability to manage the financial
affairs of others is key. While personal finances are private, employees are expected to
handle their financial affairs prudently. Specifically, the following are prohibited and are
grounds for disciplinary action:
• mismanaged checking accounts, credit cards, loan and other forms of
indebtedness which includes failure to pay just debts or being habitually delinquent
in the payment of debts;
• borrowing money or obtaining loans/favors in any form from customers and/or
suppliers; and
• borrowing/lending money from/to co-employees.

13. Gambling, Drinking Alcoholic Beverages, Use of Prohibited Drugs

Gambling, drinking alcoholic beverages, use or sale of prohibited drugs, and other
similar vices, done during working hours and within BDO premises are strictly prohibited.
The Drug Free Workplace Policy of BDO shall apply.

14. Compliance with Laws, Regulations and Internal Standards, Policies and Procedures
Directors and employees are expected to comply fully with appropriate laws and
regulations, as well as with the internal standards or policies and procedures of BDO.
They are individually responsible for complying with the spirit, not just the letter, of the
laws, regulations, and internal policies and procedures.
 15. Fair Treatment of Customers
BDO’s business is its customers. Therefore, directors and employees are
responsible in ensuring that customers are treated fairly in all dealings with them. The
minimum standards to ensure that customers are treated fairly are the following:
• Communications are fair and not misleading.
• Ensure that customers are given clear and concise information, including the
risks involved, before they enter into financial products and services.
• Employees should only market and sell products and services, which have been
approved for sale.
• Products and services are suitable and appropriate, taking into account the needs
of the customers, their financial and risk profile and objectives.
• Complaints should be handled in a prompt, friendly, fair and effective manner.

16. Relationship with Colleagues

Directors and employees are expected to treat others with dignity and with utmost
professional respect and courtesy regardless of differences, positions, ranks, ages, or
other types of distinctions.

17. Respect for Community and Environment

Directors and employees should promote actively the Bank’s corporate social
responsibility and care for the environment through the initiatives and partnerships with
civil society, governments and other stakeholders. They also have to recognize their role
to be involved in community-related issues and activities as a way of giving back to the
communities in which they operate.

VIII. RELATED PARTY TRANSACTIONS

BDO, in compliance with legal and regulatory requirements, maintains transparency of
related party transactions between and among BDO and its subsidiaries, affiliated
companies, directors, officers, stockholders, related interests (DOSRI), and joint ventures.
These should be conducted at arm's length and in the normal commercial terms granted to
either individuals or businesses of comparable risks.

IX. SPECIFIC REQUIREMENTS OF THE LAW

From time to time, specific laws or regulations are implemented which require the special
attention and strict observance by all concerned. All concerned, who shall be advised of such
requirements, shall ensure their individual responsibilities are complied with. These laws
include the Bank Secrecy Act, Anti-Money Laundering Act, Customers Protection Act and the
Data Protection Act.

X. SANCTIONS AND PENALTIES

Failure to comply with the requirements of the Code may lead to disciplinary measures
commensurate to the violations.

The Bank will use principles of fair accountability and due process in investigating and
making decisions on all matters pertaining to failure to abide by the Code. BDO reserves the
 right to impose corresponding sanctions and/or penalties for violation of the Code, which
includes dismissal from service or from the Board of Directors, as the case may be, without
prejudice to further legal, administrative or criminal charges depending on the offense.

XI. RESPONSIBILITY FOR IMPLEMENTATION

The Office of the Human Resources shall be responsible for overseeing the
implementation of this Code across the BDO Unibank Group. It shall receive reports of
violation and ensure that a confidential investigation is undertaken. As necessary, it may
endorse the handling of the investigation to the Cases Review Secretariat for the necessary
action and appropriate recommendation. The Audit Committee, at its discretion, may
periodically report the Code of Ethics cases to the Board of Directors. The Compliance Office
will address lapses in compliance with regulatory requirements arising from the administrative
cases due to the violation of this Code.

XII. APPROVAL AND DISCLOSURE

The Board of Directors has the authority to approve the Code of Conduct and Business
Ethics. The Office of the Human Resources and the Office of the Corporate Governance shall
be responsible to disseminate the Code to all directors, officers and staff for their information
and proper guidance. It should be posted in the Bank's website and intranet to be accessible
to all covered individuals and shall form part of the HR and Compliance policies of the Bank.
 BDO CORPORATE SOCIAL RESPONSIBILITY

BDO pursues its corporate citizenship initiatives through BDO Foundation, the bank’s
corporate social responsibility arm. Backed by the BDO Unibank community, the foundation
develops and implements programs designed to address the needs of the underprivileged
and marginalized members of society.

BDO Foundation’s advocacies fall under two pillars: disaster response, which includes
relief, rehabilitation and reconstruction programs; and financial inclusion. In 2019, the
foundation—supported by stakeholders, BDO volunteers, its partners and donors—fulfilled
these advocacies.

Disaster Response
BDO’s presence all over the country gives BDO Foundation the capability to conduct
relief operations with great efficiency. Leveraging the wide network of BDO branches and
satellite offices across the country, the foundation mobilizes BDO volunteers to mount
relief work in communities affected by natural or man-made disasters.

Branch officers and staff visit disaster-stricken barangays and distribute relief packs
containing food, rice and water to affected residents. In some cases, hygiene kits and
school supplies are handed out. In areas where there is no BDO presence, the
foundation partners with church groups and other non-governmental organizations to
mount relief operations.

In 2019, BDO Foundation organized 48 relief operations, benefiting a total of 69,082

families. Beneficiaries included people affected by incidents of fire, earthquakes the
southwest monsoon, tropical depressions, flash floods and landslides. Victims of
Typhoons Ineng, Quiel, Tisoy and Ursula as well as those affected by earthquakes in
Batanes, Cotabato, Davao del Sur and Pampanga also received relief goods distributed
by BDO volunteers. The foundation also donated 100 rolls of tarpaulin to public schools in
Cotabato. These were used for temporary learning spaces in the aftermath of the
earthquakes.

Rehabilitation of Rural Health Units

After conducting relief operations, BDO Foundation revisits areas hit by disasters to
determine the long-term work that needs to be done as part of its disaster response
 advocacy. The rehabilitation of rural health units is one of the programs the foundation
undertakes in calamity-stricken communities.

Through this rehabilitation program, BDO Foundation aims to contribute to the

achievement of the United Nations’ Sustainable Development Goal no. 3 to ensure
healthy lives and promote the well-being of people of all ages. The initiative is also in line
with the improvement of the healthcare service delivery system, one of the goals under
the Philippine Health Agenda.

Last year, as in prior years, the foundation rehabilitated rural health units in disaster-
stricken and economically disadvantaged communities all over the country.

The renovation of health facilities included various rooms and spaces for mothers and
infants, children, senior citizens, persons with disabilities and other patients. New
furniture and fixtures were installed. Play areas for children complete with books and
toys, waiting areas for the comfortable use of senior citizens and breastfeeding stations
for nursing mothers were also built.

These improvements enabled doctors, nurses and midwives to serve their constituents
more effectively.

BDO Foundation rehabilitated 14 health centers in 2019. As a result, a total of 453,876

individuals now have access to better primary and maternal healthcare services.

School Buildings in Marawi

As part of its rehabilitation and reconstruction program, BDO Foundation constructs
new school buildings in areas affected by natural disasters or armed conflict. This
initiative supports the Adopt-A-School program of the Department of Education (DepEd)
and helps address the need for more classrooms in the country.

In 2019, BDO Foundation constructed two-storey, four-classroom school buildings in

Lake Lanao National High School and Harat Medina Central Elementary School in
Marawi City, Lanao del Sur.

The projects were aimed at helping rebuild the war-torn city.

The fully furnished school buildings are expected to initially benefit more than 700
pupils affected by the Marawi siege, which disrupted classes for several months and
forced students and teachers to evacuate. Moreover, the project contributes to the efforts
of DepEd, one of the member agencies of Task Force Bangon Marawi, to rehabilitate
public schools in the wake of the fighting that ensued between government forces and a
militant group in 2017. Counting the school building it turned over in Nanapun Elementary
School in 2018, BDO Foundation has constructed three school buildings in the city.
 The construction of the new school buildings is just one of several BDO Foundation
initiatives for Marawi. The foundation successfully mounted relief operations and made
donations for the benefit of thousands of evacuees, military operatives, police personnel
and school children affected by the fighting and humanitarian crisis. It also donated
storybooks and school supplies to hundreds of schoolchildren in the city. Technical-
vocational Facility in Mati

Last year, BDO Foundation, in partnership with the Salesian Society of St. John
Bosco, constructed a two-storey technical-vocational facility at the Don Bosco Training
Center (DBTC) in Mati City in the disaster-stricken province of Davao Oriental for
disadvantaged and out-of-school youth in Mindanao. Typhoon Pablo battered Davao
Oriental in 2012, devastating thousands of residents in coastal areas. The tropical storm,
one of the strongest to make landfall in the province, damaged homes, infrastructure and
school buildings.

Through the new school building, BDO Foundation aims to help the Don Bosco school
capacitate students and make them employable in the Philippines and abroad. The
project is in keeping with the United Nations Sustainable Development Goal no. 8 to
promote sustained economic growth, full and productive employment, and decent work
for all. The construction of the school building in Mati and the provision of tools and
equipment were made possible by donations from BDO employees.

With construction completed, school administrators plan to set up new courses and
accommodate more enrollees. Around 560 senior high school students are expected to
benefit from the project in the first three years. The structure will serve as a workshop,
where students can learn technical vocational skills.

Facility for Survivors of Abuse

In 2019, BDO Foundation completed the construction of Cameleon Negros Center, a
facility where abused girls can undergo therapy, study and receive counselling. Located
in Silay City, Negros Occidental, the center is a home for abused children, a safe haven
where they can receive the care, guidance and attention they need. The center initially
accommodated 20 beneficiaries but will continue to accept more survivors of abuse.
Construction was co-funded by Cooperation Humanitaire Luxembourg and backed by
Zonta Club of Makati-Ayala. The third shelter for abused children Cameleon has built in
the country, Cameleon Negros Center was also made possible with the support of the
local government of Silay, which donated an 8,000-square-meter property for the project.

Resettlement Homes
BDO Foundation builds typhoon-resilient resettlement homes for people displaced by
disasters. The foundation partnered with the United Nations Human Settlements
Programme (UN-Habitat) for the construction of houses in Barangay Cabalawan,
Tacloban City for families affected by Typhoon Yolanda, one of the worst disasters to hit
the country. The initiative contributes to the achievement of UN-Habitat’s mission to
promote socially and environmentally sustainable human settlements development and
the achievement of adequate shelter for all.

BDO Foundation funded the construction of 100 houses in support of UN-Habitat’s

Post-Yolanda Support for Safer Homes and Settlements program. In 2018, 40 houses
were turned over to members of the Villa de Tacloban Homeowners Association Inc., the
beneficiaries of the project. In 2019, the construction of the remaining 60 units was
completed.

The resettlement homes form part of the 350 total housing units that UN-Habitat
committed to build under the community mortgage program of the Social Housing
Finance Corporation. The local government of Tacloban City handled site development.
Financial Inclusion BDO Foundation, through its financial inclusion pillar, is collaborating
with partners to help improve the financial literacy of Filipinos. Two programs fall under
this advocacy: financial education and capability-building for small entrepreneurs.

In 2019, BDO Foundation continued to provide training on financial literacy as well as

simple accounting and bookkeeping for farmers in support of SM Foundation’s Kabalikat
sa Kabuhayan, an agricultural training initiative designed to help fruits and vegetables
farmers become selfsufficient. The foundation, in partnership with National University,
organized training sessions for 3,000 farmer-beneficiaries in 29 sites all over the
Philippines.

In keeping with a shared goal to promote financial inclusion, BDO Foundation, the
Bangko Sentral ng Pilipinas (BSP) and the Department of Education (DepEd) introduced
a financial education program for public schools in 2018. It is the foundation’s flagship
corporate citizenship initiative under its financial inclusion advocacy.

The program supports DepEd’s efforts to strengthen financial education in its K to 12

curricula and provide financial literacy education for its teaching and non-teaching
personnel.

In 2019, the foundation partnered with BSP, DepEd, the Overseas Workers Welfare
Administration (OWWA), the Civil Service Commission (CSC), the Philippine Army and
the Armed Forces of the Philippines (AFP) for the development of financial education
programs appropriate for these partner agencies.. All these programs contribute to the
pillar on Financial Education and Consumer Protection of BSP’s National Strategy for
Financial Inclusion. Beneficiaries include 24 million students in 47,000 public schools
nationwide; 800,000 public school teachers and non-teaching personnel; 900,000 civil
servants; 2.3 million OFWs; and 140,000 soldiers and civilian personnel of the armed
forces. BDO Foundation has developed 16 financial education videos for teachers and
non-teaching personnel, public school students, OFWs attending OWWA’s Pre-Departure
Orientation Seminars (PDOS), OFWs attending OWWA’s Post-Arrival Orientation
Seminars (PAOS), families of OFWs, new recruits of the Philippine Army, new army
officers, senior officers and civilian personnel. In 2019, the foundation began production
 on nine additional videos for OFWs, civil servants and the armed forces for release in
2020.

Designed to make lessons on personal finance engaging and compelling for the
target audience, the videos were produced to serve as springboard for discussions on
financial responsibility. The videos covered such topics as saving, budgeting and financial
planning, investments, debt management, the responsible use of credit,
entrepreneurship, avoiding scams and retirement planning, among others. The partners
also developed training modules, lesson plans and discussion guides for each video.

In 2019, the financial literacy videos and lesson exemplars or lesson plans were
uploaded in the DepEd learning portal making them accessible to teachers for use the
classroom and for DepEd trainers for use in the training of teachers and non-teaching
personnel. For its part, OWWA officially adopted BDO Foundation’s financial literacy
videos and discussion guides for use by all organizations conducting the mandatory
PDOS. Four hundred trainers coming from OWWA and the various PDOS providers also
attended the training of trainers organized by BDO Foundation and BSP. The Philippine
Army, on the other hand, decided to embed financial literacy in its various training
programs and designated 120 trainers to act as speakers and resources persons. BDO
Foundation and BSP organized and conducted a training of trainers activity for 40 out of
these 120 trainers.

Through its financial inclusion advocacy for educators, the Filipino youth, soldiers and
OFWs, BDO Foundation hopes to promote financial inclusion, contribute to the
development of a financially literate citizenry and support nation-building. Finding Ways in
the Future Having made significant strides in its disaster response and financial inclusion
programs the past year, BDO Foundation is gearing up for more projects in the future.
The corporate social responsibility arm of BDO Unibank—supported by the BDO
community of volunteers, partners and donors—will continue to pursue programs for the
benefit of the underprivileged and marginalized members of society. BDO Foundation will
continue to find ways for the people.

Environmental Initiatives
BDO imposes limits and monitors exposure to certain industries such as production or
trade in weapons and munitions, online gaming and equivalent enterprises, hydroelectric
plant with weir height more than 50 meters, illegal mining, illegal fishing and child labor
(those deemed to have adverse environmental and social effects to community).

BDO’s green financing has been practiced since 2010 and is considered one of the
pioneers to have catalysed sustainable finance in Philippine's banking industry. Through
its cooperation with IFC until 2018, the Bank has led financing in green energy
investments in Renewable Energy, Energy) Efficiency and Green Building projects. In
February 2018, BDO was the first to have issued $150 million green bond in the country
and East Asia Pacific with IFC as its sole investor. In addition, BDO had a partnership
with Japan Bank for International Cooperation to relend its $50 million green facility to
environment-related projects focusing on renewable energy in the Philippines in August
2016. Thus, providing our clients with additional financial product that can support their
prospective green projects.

The Bank also maintained its “Go Green Program” to raise awareness on
environmental issues, promote good environmental practices in the workplace, mobilize
volunteers for conservation programs. Its Green initiatives focuses on energy
conservation using LED lights, water management using waterless urinals, air quality by
tree planting in support of “Grow a Million Trees” campaign, waste disposal and other
cleanup projects. BDO Corporate Center Ortigas (BDO CCO) has earned a certification
on Leadership in Energy and Environmental Design (LEED), two years after the 47-storey
office structure was formally unveiled.
It is the first high-rise office-commercial building in the Philippines to achieve a LEED
Gold “New Construction Category” Certification. Various sustainable methods were
implemented in the construction of the building that steered its LEED accreditation. These
include the installation of automated monitoring and control systems as CO2 sensors,
occupancy sensors, daylight dimming and timer switches.
• With the help of the CO2 sensors, indoor pollutants are mitigated and help the
building steer away from catching the sick building syndrome.
• By deciding to go automated, energy is saved from mechanically turning off or
dimming the lights when it does not sense any human activity and when sufficient
natural light enters the room.
• Sustainable effort was done by employing dual piping in the plumbing system. Grey
water, harvested rainwater and condensate water are recycled and re-used for
flushing. The combination of efficient water fixtures and grey water flushing were
keys in reducing the total building potable water use by approximately 5,700,000
liters annually.

Since the Bank has started the program in 2010, the Bank has financed 45 renewable
energy projects with total installed capacity of 2.1GW including various types of
technology such as biomass, geothermal, wind, solar and hydro. This has provided
electricity for 1,944,479 families while reducing greenhouse gas emissions by 3,922,454
tons per annum, equivalent to 832,801 passenger vehicles off the road for a year and
growing 64,858,598 tree seedlings over a 10-year period. Through almost a decade of
BDO's practice in green financing brings forth solid outcome and basis for establishing
Sustainable Finance Framework which provides guidelines and parameters for green and
social impact financing. Currently, BDO’s green financing accounts for more than 10% of
its total loan portfolio inclusive of all industries. With continued innovation in green
financing, the Bank has positioned to lead Sustainable Finance across various industries.

Sustainability, climate change and wildlife protection

Equally important to the Bank is our commitment to enhance the sustainability of the
environment thru information, education and advocacies. It is a Corporate Partner of the
World Wide Fund for Nature (WWF) Philippines, a member of the World Wide Fund for
Nature, the world’s largest conservation organization. This has allowed BDO to support
 the organization’s various programs since 2010 such as the Bancas for the Philippines,
Earth Hour, environmental education, sustainable fisheries in Ilocos and Palawan, marine
conservation and research in the Tubbataha Reefs, agroforestry in the Sierra Madre,
whale shark ecotourism in Donsol, sustainable tourism in the fabled Ticao Pass in
Masbate, and the Tamaraw Conservation Program in Mindoro, forests for water
campaign, Calaguas development, and anti-plastic project.

Business Competitors
The Bank is committed to treat business competitors fairly and professionally in all
dealings with them. It will avoid making references or discussions that may have a
negative impact on the Bank's competitors.

Government and Regulators

The Bank supports the compliance with the spirit, not just the letter, of the laws and
regulations of the jurisdictions it operates. All business deals and transactions shall
adhere to regulatory requirements and applicable laws particularly on confidentiality of
deposits, data privacy and protection, anti-money laundering and other financial crimes,
anti-corruption and bribery, insider trading and consumer protection. In 2019, the Bank
continued to be active in giving comments on various proposed legislations and
regulations.

Transparency and Disclosures

BDO is fully committed to provide its investors and other stakeholders full
transparency and timely information disclosure through filing with the Securities and
Exchange Commission (SEC) and the Philippine Stock Exchange (PSE), as found in the
following:
• General Information Sheet (GIS)
• Definitive Information Sheet (DIS)
• SEC form 17-A
• SEC form 17-C (current reports - material information)
• SEC form 17-Q (Quarterly Report)
• SEC form 23-A/B (Statement of Beneficial Owners)
• Audited Financial Statements (AFS)
Required disclosures relating to:
1. Financial information is stated in the AFS, SEC Form 17-Q and the DIS
2. Shareholder matters are provided in the DIS
3. Executive compensation policy is stated in the DIS
4. Directors' fees are found in the DIS
5. Corporate actions, among others, are provided by PSE

In particular, BDO released the 2019 audited financial statements on February 28,
2020 or just 59 days after close of the financial year to promote transparency and full
disclosure of the results of the operations of the Bank.