INVESTOPEDIA defines a green bond as a type of fixed-income instrument that is specifically earmarked to raise money for climate and environmental projects. Investopedia explains that green bonds are sometimes referred to as climate bonds, but the two terms are not always synonymous.“Whereas climate bonds specifically finance projects that reduce carbon emissions or alleviate the effects of climate change, green bonds represent a broader category of instruments related to projects with a positive environmental impact. Green bonds are part of a larger trend in socially responsible and ESG investing.”One such green bond is the recently listed peso-denominated Asean Green Bond of ACEN, the listed energy platform of the Ayala group. The P10 billion bond due 2027 will support the operations of the following renewable projects of ACEN, namely, 1) the 283 MWdc San Marcelino Solar 1 farm in Zambales 2) the 42-MWdc expansion of the 72-WDc Arayat-Mexico solar farm in Pampanga and 3) the construction of the 133-MWdc Cagayan Solar farm in Lal-lo, Cagayan.“The successful offering will help us realize ACEN’s vision of reaching 20 GW of renewables capacity by 2030,” ACEN President/Chief Executive Officer (CEO) Eric Francia said.The issue attracted so much investor interest that it was 8.6 times oversubscribed. The five-year bond offered a fixed annual rate of 6.05 percent and was given the highest possible rating of PRS Aaa by the Philippine Ratings Services Corporation.It is ACEN’s maiden peso-denominated Asean Green Bond – the first tranche under a P30 billion borrowing program registered with SEC. The previous offerings by ACEN had been dollar-denominated. Including this one, ACEN has raised a total of US$1.6 billion.It is no wonder that for the second consecutive year, ACEN was recognized as the Most Outstanding Company in the Philippines in the energy sector in Asiamoney’s Outstanding Company Poll. Over 900 fund managers, analysts, bankers, and ratings agencies took part in the poll, which concluded in July.The formal listing of the ACEN Green Bond at the Philippine Dealing and Exchange Corporation (PDEx) last September 22 was witnessed by ACEN Deputy Chief Finance Officer (CFO) Mary Syquia, BPI Capital President Chiqui Huang, ACEN CFO and Treasurer Cora Dizon, ACEN President/CEO Eric Francia, SEC Commissioner Kelvin Lester Lee, PDEx President/CEO Antonino Nakpil, BDO Capital President Ed Francisco, PDTC President/CEO Ma. Theresa Ravalo, RCBC Capital SVP Arsenio Kenneth Ona, and SB Capital President Virgilio Chua.BPI organizational changesDuring its last meeting, the Bank of Philippine Islands (BPI) board approved the resignation for medical reasons of Fernando Zobel de Ayala (FZA) as director and chairman/member of key committees.The board thereafter approved the following organizational changes.1. Nomination of Jaime Z. Urquijo as director vice FZA2. Appointment of Cezar P. “Bong” Consing as vice chairman of the board of directors and as member of the nomination committee3. Appointment of Jaime Augusto Zobel de Ayala (JAZA) as member and chairman of the personnel and compensation committee4. Appointment of Romeo L. Bernardo as member of the Executive CommitteeAt Ayala Corporation, the board formalized the appointment of Bong Consing as president/CEO and Mercedita S. Nolledo as director vice FZA.