Pioneering Sustainability and Financial Inclusion: Eugene Acevedo’s Visionary Leadership at RCBC Transforms Banking Landscape in the Philippines

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For over a decade, RCBC has been at the forefront of embracing innovation and sustainable banking by setting a new standard for environmental responsibility and financial inclusivity in the Philippine banking sector. In 2011, RCBC laid the groundwork for its sustainability initiatives by establishing its own environmental and social management system. Since then, the bank has been on a mission to align its lending strategy with sustainable practices.

It’s worth noting that Eugene Acevedo, President and CEO of RCBC, has already led initiatives to fund over three gigawatts worth of renewable energy projects — including wind, solar, hydro, and geothermal initiatives. This has set an example and benchmark for environmental measures within the industry in the Philippines. Aiming towards targeting zero exposure to coal-fired power plants by 2031, the bank’s actions are leading the charge toward a greener, more sustainable future for
the Philippines.

“Embracing sustainability is not just a choice; it’s our responsibility as a financial institution to contribute to a more sustainable future. We are the first Philippine bank or even in Asia to cease funding for new coal power plants, redirecting our investments towards renewable energy projects that align with our values and principles.”
– Eugene Acevedo, CEO, RCBC

For his contributions, Acevedo was recently conferred The Epoch Award, under the CEO of the Year (Philippines, 2023) category, by The Enterprise. The Award for Bank of the Year (Philippines, 2023) was conferred to RCBC, in recognition of the bank’s commitment to sustainability, and adoption of digital innovations that bridge the gap between traditional banking and underserved communities. RCBC’s success stems in part from the launch of RCBC MoneyBela Barangayan Banking, the Philippines’ first phygital (physical-digital) blended banking service, and innovations like ATMGo, the country’s first grassroots-based, bank-agnostic, and last-mile automated teller machine, Pulz, the Philippines’ most advanced and all-in-one digital banking app, and DiskarTech, the world’s first multilingual financial inclusion super app. These transformative initiatives by RCBC have earned widespread recognition, reflecting Acevedo’s focus and dedication to excellence and innovation. Acevedo was also recognized as among the People Asia’s People of the Year 2024, the only banker in the prestigious list. 

A magna cum laude in Physics from the University of San Carlos, Acevedo is a Javier Nepomuceno Scholar from the Asian Institute of Management. His academic journey mirrors a commitment to lifelong learning, and that reflects in his dedication in pushing boundaries across pivotal roles in institutions such as the Philippine National Bank and Union Bank, where he also orchestrated strategic acquisitions, and fostered mass market growth.

Given his outstanding contributions to the banking industry, Eugene Acevedo represents the BFSI industry as a catalyst for change through his commitment to sustainability, digital innovation, and inclusive growth that exemplifies true leadership that continues to inspire and empower a new generation of banking professionals.