BDO cuts costs by retrofitting old buildings

MANILA, Philippines — Sy-led BDO Unibank Inc. (BDO) continues to manage greenhouse gas emissions and energy consumption by retrofitting old buildings, beginning with its historic Dasmariñas- Binondo building in Manila.

The effort is designed to boost energy efficiency, has not only yielded substantial cost savings but also stands as a compelling illustration of the advantages that retrofitting older buildings can bring to both businesses and homeowners.

Retrofitting refers to the process of updating old buildings with new technology and systems to improve their energy efficiency and functionality.

“This initiative by the Bank illustrates how seemingly small efforts such as opting for more energy efficient technology in lighting and elevators can provide huge benefits in the long run,” BDO senior vice president and head of facilities Aurea Imelda Montejo said.

In 2018, the Dasmariñas - Binondo building was one of BDO’s top five highest energy-consuming facilities, with an average monthly consumption of 144,993 kilowatt-hours (kWh).

BDO Dasmariñas-Binondo building’s electricity consumption for one month is equivalent to the electricity consumption of about twelve households in a year.

Recognizing the need for substantial energy reduction, the country’s largest bank embarked on a retrofitting project in 2019, starting with the installation of energy-efficient LED lighting.

By the end of 2019, the building’s average monthly energy consumption decreased to 137,867 kWh, a 4.9 percent reduction compared to the previous year. This energy savings translated into cost savings of over P800,000. This also brought down the bank’s overall greenhouse gas emissions for scope 2 on electricity consumption.

Following its previous achievement, BDO continued its modernization efforts by upgrading the building’s traditional elevators to smart elevators in 2020.

This further reduced the building’s average monthly energy usage to 129,800 kWh by 2022, marking a 10 percent decrease from the 2018 baseline. These improvements came from an investment of P15.9 million, which generated cumulative savings of over P5.9 million from 2019 to 2022.

“Businesses and homeowners alike can achieve notable cost cuts by investing in energy-efficient technologies. Our experience shows that these investments pay off in reduced operational expenses, while creating a positive impact on our environment,” Montejo said.

BDO’s efforts at the Dasmariñas- Binondo building demonstrate that retrofitting is not only an environmentally responsible choice but also a financially sound strategy. By upgrading lighting systems and installing smart technologies, businesses and homeowners can considerably lower their energy consumption and reduce their utility bills.