BDO provides financing to FAST Logistics for green initiatives

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BDO provides financing to FAST Logistics for green initiatives
Five of FAST Logistics' facilities are powered entirely by renewable energy, with plans to transition five more facilities in Luzon and Cebu to solar power. Photo from FAST Logistics.
  • BDO Unibank is providing impact financing to FAST Logistics for its green initiatives
  • FAST Logistics has rolled out its first fleet of electric vehicles in the first quarter of the year and shifted facilities to solar power
  • BDO also supports the logistics firm’s digitization with enhanced cash flow management services

BDO Unibank Inc. (BDO) is providing impact financing to FAST Logistics for its green initiatives.

“BDO has consistently supported our growth from a transport and warehousing business to a comprehensive distribution network. BDO is one of our largest partner banks, continually aiding our transition towards digitization and a more environmentally friendly operation. Their deep understanding of our business has been crucial to the strength of our partnership,” William Chiongbian II, group president of FAST Logistics, said in a press statement.

From its core businesses of multimodal transport, warehousing management, and selling distribution, FAST Logistics has since expanded into cold chain, crossdocking operations, and other value-added services.

It operates through its network of mega warehouses and distribution centers in strategic areas around the Philippines.

Meanwhile, FAST Logistics has rolled out its first fleet of electric vehicles in the first quarter of 2024 and shifted its warehouse in Cabuyao, Laguna and cold storage facility in Cavite to solar power. Currently, five of the group’s facilities are powered entirely by renewable energy, with plans to transition five more facilities in Luzon and Cebu to solar power.

The firm said it plans to adopt sustainable fuel sources for its fleet to further minimize its carbon footprint.

BDO also supported FAST Logistics’ digitization initiatives with enhanced cash flow management services through corporate cash deposit machines, check scanning facilities, and online payment solutions.