Climate Change Data

Environmental Metrics

ESG Focus Areas

• Economic
• Environmental
• Social
• Governance

Environmental Achievements

• Reduced paper waste worth Php 9.8M in cost savings for 2019 through eStatement of Account (eSOA) program; approximately 65% of credit cardholders enrolled in eSOA by 2019.
• Launched Bring Your Own (BYO) program to reduce single-use plastics.

Social Achievements

• Female employees represent 67.0% of the workforce; 53.0% of senior management positions held by women; 27.0% of Board of Directors were women.
• 348,654 total hours of training provided to employees in 2019; average of 106.33 training hours per employee.
• 119 employees participated in three volunteer service events, dedicating 582 volunteer hours.

Governance Achievements

• Revised Corporate Governance Manual on May 24, 2018.
• No directors were found to be involved in incidents of corruption.
• 100% of employees received written communication on anti-corruption policies and procedures; 97% of employees received anti-corruption training; 100% of directors and management received anti-corruption training.

Climate Goals & Targets

Environmental Challenges

• Margin squeeze in the first half of 2019 due to decline in interest rates; lingering tension between the United States and China; slower GDP growth in the Philippines; congressional impasse on national budget approval; COVID-19 pandemic.
• Surge in card scams and cybercrimes resulting in higher volume of client calls and emails.
• Growing stakeholder demands for transparency and stringent environmental reporting requirements.
• Limited data on environmental impacts due to insufficient data collection systems.

Mitigation Strategies

• Quickly rebounded in the second half of 2019 due to higher consumer lending and trading gains.
• Implemented company-wide measures to protect employee health and safety during COVID-19 pandemic; activated Business Continuity Plan; implemented work-from-home policies.
• Strengthening data collection systems to better understand and manage environmental and social impacts; establishing strategic priorities and initiatives for ESG performance.
• Investing in technology infrastructure and seamless management information and risk systems; implementing a proactive and on-demand risk assessment.

Supply Chain Management

Responsible Procurement

• Supplier Accreditation Program overseen by Filinvest’s Purchasing Department; considers environmental performance, forced/child labor, labor/human rights, and bribery/corruption.

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI Standards Reporting Guidelines, SEC Guidelines (SEC Memorandum Circular No. 4, series of 2019)

Sustainable Products & Innovation

• eSOA

Awards & Recognition

• EastWest Auto Loan received “Automobile Lending Initiative of the Year” and “Consumer Finance Product of the Year” awards at the 2019 Asian Banking and Finance Retail Banking Awards.
• EastWest Rural Bank recognized by SSS as “Best Paying Partner” and “2019 Best Private Stakeholder” in Brigada Eskwela program.

Environmental Metrics

ESG Focus Areas

• Economic
• Environmental
• Social
• Governance

Environmental Achievements

• Implemented water and energy conservation programs
• Converted from printed credit card statements to electronic versions, avoiding the printing of around 20 million pages and fuel burned by motorcycle deliveries

Social Achievements

• Launched Komo, a fully digital banking experience, making it easier for the unbanked and underbanked to access financial services
• Helped enable learners to get quality education through EastWest Rural Bank’s commitment to Brigada Eskwela
• EastWest employees rallied to support the Philippine Foundation for Breast Care Inc. (PFBCI) through the Magenta Race

Governance Achievements

• Continued to strictly adhere to corporate governance principles, guided by the Corporate Governance Manual
• Enhanced policy on compliance oversight of subsidiaries and affiliates
• Implemented robust risk management practices

Climate Goals & Targets

Environmental Challenges

• Volatile geopolitical environment and macroeconomic conditions
• Global supply chain bottlenecks impacting auto loans
• Increasing competition in the consumer market and changing consumer preferences

Mitigation Strategies

• Calibrated risk management and thoughtful capital allocation
• Strengthened brand alliances and digitized processes to enhance Auto Loans
• Continued investment in robust IT systems and initiatives to improve infrastructure and credit risk management

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Supplier Accreditation Program

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: GRI Standards, SEC’s Sustainability Reporting Guidelines

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed