2019 SUSTAINABILITY REPORT

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S U S T A I N A B I L I T Y

R E P O R T

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2019 Sustainability Report

This report has been prepared in accordance with the GRI Standards: Core option. (102-54)

Additionally, it follows the Sustainability Reporting Guidelines of the Securities and Exchange Commission (SEC). This report can also be downloaded at www.unionbankph.com/sustainability.

We welcome your feedback on this report. Please contact:

Customers, among them the savvy digital natives, inspire us to be change-makers in the era of Banking 4.0—when “one can bank everywhere, but never at a bank.” Guided by years of experience, openness to novel ideas, and compulsion to innovate, we at UnionBank will keep designing holistic and inclusive solutions that work for you. We will meet you where you are, we will collaborate with you to enhance the banking experience and upgrade our latest technology, connecting you via our digital platforms at any time. A Better World is around the corner when we start innovating together.

Reporting Framework: GRI StandardsApproach to GRI: In accordance ‘Core’ Reporting Scope: Parent Bank and subsidiary CitySavings Bank (102-45)Reporting Period: January to December 31, 2019 (102-50) Reporting Cycle: Annual (102-52)Previous Report: UnionBank’s 2018 Sustainability Report, “Ahead of the Curve,” published in May 2019 (102-51)

Angelica Marie S. Justo (102-53)CSR and Sustainability ManagerHuman Resources GroupUnionBank Plaza, Meralco Ave., corner Onyx and Sapphire Roads, Ortigas Center, Pasig City 1605 (102-3)Email: [email protected]

About the report

Feedback

About the cover

“Innovating Together,” the 2019

Sustainability Report of Union Bank of the

Philippines (UnionBank) (102-1) discusses

how we continue to co-create solutions

and achieve excellence in terms of our

economic, environmental, social, and

governance (EESG) performance.

Sustainability reporting at UnionBank

allows us to look back and assess our

progress in reconfiguring the digital

banking experience to be more responsive

to our diverse customers’ changing needs.

More than ever,

UnionBank is committed

to pursuing innovations

and ideas that build the

future, today.

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2 About the Report

4 About UnionBank

5 UnionBank Network

6 UnionBank Membership in Industry Groups and Associations

7 The UnionBank DNA

8 Products and Services

9 Scope and Materiality of the Report

11 Materiality Assessment

12 Our Management Approach

14 Joint Message of the Chairman and the President &CEO

18 Sustainability Policy and Framework

19 Our Sustainability Framework

Sustainable Development Goals

Framework for Sustainable Banking Network and Alliance

for Financial Inclusion

20 Sustainability At A Glance: Our 2019 Scorecard

41 Purpose: Tech Up Pilipinas

43 Direct Economic Value Generated and Distributed

44 Banking Innovations with Social Benefits

45 Customer Experience

46 FEATURE: Meet Eve: The ARK’s new robot ambassador

46 Customer Service

46 Information Security and Cyber Security

47 Customer Privacy

48 Corporate Governance

58 GRI Index

51 Annex

22 People Tech: Building the Skills of the Future Today

23 Blueprint for Success: Agile Operating Model

25 FEATURE: Enabling capacities through UB Xcellerator

26 From Competencies to Capabilities

27 Employee Experience: 1UHub

28 Building a Retiree’s Nest

28 Safety and Health at Work

29 Learning in the Digital Age

FEATURE: UnionBank University E-Learning

29 Disaster Risk Reduction

30 Employee Engagement

FEATURE: #OwnYourWellness

31 Employee Volunteerism

32 GBC Milestones: A Look Back at 5 Years

35 CitySavings Advocacies

37 Planet: Making the Choices that Matter

39 FEATURE: Green Infrastructure: Lead through LEED

39 Materials and Resources Management

40 Managing Impacts to the Environment


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About the Report

About UnionBank Scope and Materiality of the Report

Joint Message of the Chairman and the President & CEO Sustainability Policy and Framework Sustainability At A Glance: Our 2019 Scorecard

People Tech: Building the Skills of the Future TodayBlueprint for Success: Agile Operating Model

Enabling Capacities Through UB XcelleratorFrom Competencies to CapabilitiesEmployee Experience: 1UHubBuilding a Retiree’s NestSafety and Health at WorkLearning in the Digital Age Disaster Risk ReductionEmployee Engagement Employee VolunteerismGBC Milestones: A Look Back at 5 YearsCitySavings Advocacies

Planet: Making the Choices that MatterMaterials and Resources ManagementManaging Impacts to the Environment

Purpose: Tech Up PilipinasDirect Economic Value Generated and DistributedBanking Innovations with Social BenefitsCustomer ExperienceCustomer Service Information Security and Cyber SecurityCustomer Privacy

Corporate GovernanceGRI INDEX ANNEX

About UnionBank

UnionBank is a publicly listed universal bank in the Philippines. The Bank caters to a wide range of

clients, including retail and corporate customers, small and medium enterprises (SMEs), and government

institutions. We are committed to empowering the different sectors of the country to encourage inclusive

development and positive change. (102-6)

Ownership & Legal Form (102-5)

As of 2019, UnionBank’s major shareholders are:

Aboitiz Equity Ventures, Inc.: 49.34%

The Insular Life Assurance Co., Ltd.: 16.32%

Social Security System: 6.32%

PCD Nominee Corporation: 16.88%*

Others: 11.14%

Over the years, UnionBank has created a strong presence in key customer segments and in emerging

cities, including rural areas through our subsidiaries and affiliates. UnionBank owns 99.79% of

CitySavings Bank, Inc. (CitySavings), a thrift bank, and 51% of PETNET Inc. (also known as PERA HUB),

the largest Western Union agent network in the country. For more information on our key subsidiaries

and affiliates, please view our 2019 Annual Report.

*Social Security System (SSS) holds 3.62% of the company’s outstanding capital shares under the PCD Nominee Corporation

https://edge.pse.com.ph/openDiscViewer.do?edge_no=4346e2fc7c346d630de8473cebbd6407


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About the Report








UnionBank Network (as of December 2019)

358 UnionBank branches

22 LEED-certified

470 UnionBank ATMs* plus access to almost 13,000 ATMs (via Bancnet)

47 The ARK branches(1 ARK for business, 2 self-service kiosks)

Powering this vast network is a total workforce of 3,525 employees from UnionBank and 1,649 from CitySavings Bank.

137 CitySavings branches

67 CitySavings ATMs*

Over 3,000 remittance centers (under PETNET Inc.)

*available 24/7, nationwide

METRO MANILAincluding: Ortigas Central Business DistrictMakati Central Business District Bonifacio Global City LUZONPampangaZambalesTarlacPangasinanBaguio City, CARBulacanNueva EcijaCagayanIlocos NorteIlocos SurIsabelaLa UnionAlbayCamarines SurQuezonCaviteLagunaBatangasTagaytay CityPalawan

VISAYASCebuIloiloBacolodLeyteBoholDumaguete City, Negros Oriental

MINDANAODavaoZambonga del SurIligan CityCagayan de OroButuan, CaragaGeneral Santos City, Soccsksargen

(102-4, 102-7, 102-8)


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About the Report








Core Business

• Association Cambiste Internationale Philippines

• Association of Certified Fraud Examiners Philippines

• Association of Certified Public Accountants in Commerce and Industry

• Bankers Association of the Philippines

• Bankers Institute of the Philippines

• Credit Card Association of the Philippines

• Credit Management Association of the Philippines

• Fund Managers Association of the Philippines

• Investment House Association of the Philippines

• Money Market Association of the Philippines

• National Association of Securities Broker Salesmen, Inc.

• Philippine Association of Stock Transfer and Registry Agencies

• Philippine Trade Foundation

• Trust Officers Association of the Philippines

Shared Services

• Association of Bank Compliance Officers

• Association of Executive Managers in the Philippines

• Bank Marketing Association Philippines

• Bank Security Management Association

• Banker’s Council for People Managers

• Clearing Officers Club

• Employers Confederation of the Philippines

• Financial Executives Institute of the Philippines

• Good Governance Advocates and Practitioners of the Philippines

• Institute of Entrepreneurial Management

• Institute of Internal Auditors Philippines

• Management Association of the Philippines

• People Management Association of the Philippines

• Philippine Association of Management Accountants

• Philippine Association of National Advertisers

• Philippine Institute of Certified Public Accountants

• Tax Management Association of the Philippines

Business and Industry • American Chamber of Commerce of the Philippines• Local business chambers• Makati Business Club

Advocacy

• Junior Achievement of the Philippines, Inc.• League of Corporate Foundations• Rotary Club of Manila• U.S. Green Building Council• Philippine Business for Social Progress

External Initiatives (102-12)

UnionBank supports the following external initiatives:•United Nations Sustainable Development Goal (UN SDGs)•Leadership in Energy and Environmental Design (LEED)

UnionBank Membership in Industry Groups and Associations (102-13)


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The UnionBank DNA

Purpose To co-create innovations for a better world.

Values (102-16)

As we co-create the future, we remain rooted to our three core values: IntegrityI do the right thing at all times. I am trustworthy, transparent, and authentic. I treat everyone with respect. I am fair, honest, and accountable for all my actions. MagisI am obsessed with the customer. I continuously innovate. I learn fast to build capabilities. I achieve great results with an agile mindset. UbuntuI collaborate. I seek to understand through courageous conversations. I give feedback, real-time, and on-demand. I communicate clearly and openly

Corporate Brand Idea Powering the future of banking.

Distinguishing Beliefs Forward thinking. Innovative. Open. Agile.

Employer Brand Own the future. Co-create innovations.

Credo

We are a dynamic Bank committed to bringing the future of banking to the present by being forward thinking, innovative, open, and agile. We seek to provide our customers with the best solutions and experiences. We are committed to driving our customers to success by powering our systems with advanced technology and platforms. We are accelerating their growth by connecting them to a whole new world of opportunities. We are more than a bank. We seek to transform the lives of Filipinos and make their dreams a reality. Our goal is to co-create innovations for a better world.

Vision To become one of the top three universal banks in the Philippines by building a bank of enduring greatness.

FocusUnionBank is dedicated to becoming one of the top three universal banks in the Philippines by the year 2020. In fulfilling this mission, we commit ourselves to five key imperatives to help drive us forward: Financial Value, Operational Excellence, Superior Innovation, Customer Franchise, UnionBank Brand/Experience


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About the Report








Products and Services

Corporate, Middle-Market, and Consumer Lending

Deposits and Related Services

Cash Management Services

Debit Cards

Credit Cards

Prepaid Cards

Investment Products

Remittance Products and Services

Bancassurance

Mobile and E-Banking

Digital Channels (UnionBank Online, The Portal, GlobalLinker)

Deposits and Related Services

Loans

- Teacher’s Salary Loan

- Seafarer’s Loan

- Pensionado Loan

- Motorcycle Loan

- State Universities and Colleges (SUCs)/ Private Universities and

Colleges (PUCs) Loan

Debit Cards

Rewards

Remittance Products and Services

Bancassurance

Mobile Banking

Precautionary Principle (102-11)

UnionBank distinguishes itself through technology and

innovation, unique branch sales and service culture,

and centralized backroom operations. The Bank’s

technology allows for the delivery of online, real-time

business solutions to meet the customers’ changing

and diverse needs through innovative and customized

cash management products and service offerings. We

ensue that we are compliant with the relevant laws and

take the necessary precautions prior to launching our

product and service offerings to prevent any harm to

our stakeholders.

UnionBank CitySavings

(102-2)


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About the Report








Scope and Materiality of the Report

“Innovating Together” presents data primarily on UnionBank’s EESG performance, with additional data

on subisidiary CitySavings. This report follows the GRI Reporting Principles of stakeholder inclusiveness,

sustainability context, materiality, completeness, accuracy, balance, clarity, comparability, reliability, and

timeliness.

UnionBank’s CSR and Sustainability Unit under the Human Resources Group are the proponents of the

report, with oversight provided by the members of the Reputation Council and the Chairman.

Reporting Process:

1. Prioritize

• Engaged key stakeholder groups for the materiality of topics to be disclosed

• Consulted key stakeholders about the Bank’s sustainability framework and key interests and expectations in the

economic, environmental, and social areas

• Aligned the sustainability framework with global sustainability concerns and industry-specific issues

• Kick-off meeting, Sustainability learning and working sessions

2. Assess

• Assessed the overall process for further improvements

• Stakeholder engagement exercise

3. Validate

• Ranked the importance of identified topics, as informed by the materiality process, based on perceived scale of impact

with the reasonable interests of the Bank and our stakeholders

• Consultations (Chairman & CEO, members of the Reputaion Council, Unit Heads, and data owners), Story conference,

One-on-one interviews with business unit heads and subject matter experts

4. Review

• Reviewed the sustainability framework, material topics, and KPIs by the Sustainability Advisory Council and Senior

Management in relation to the strategic interests of the Bank and its units

• Gathered data and reported on topics considered of interest to stakeholders

• Internal review and assessment

How we applied the GRI process and principles

Activities conducted by the Bank

Sustainability reporting is an immersive experience requiring a review of significant

concerns from our stakeholders—those who are in a position of influence and those who are

in a position of vulnerability. We take note of their feedback and determine how to address

their concerns effectively.

Stakeholder engagement (102-40 102-43, 102-44)

(102-42, 102-43, 102-46)

CUSTOMERS

TOP CONCERNS: Access to customer service, product-related inquiries

ENGAGEMENT CHANNELS: Online channels (Facebook, e-mail, Twitter, Instagram, LinkedIn, Glassdoor, corporate pages)Customer service hotline

FREQUENCY OF ENGAGEMENT: Daily

UNIONBANK RESPONSE:• Online channels (Facebook, e-mail,

Twitter, Instagram, LinkedIn, Glassdoor, corporate pages)

• Customer service hotline


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(102-40, 102-43, 102-44)

COMMUNITIES

TOP CONCERNS: Relevant and continuing community development projects

ENGAGEMENT CHANNELS: Assigned account managers per area, website

FREQUENCY OF ENGAGEMENT: Immediate feedback (e.g., after a Go Beyond Communities activity is completed)

UNIONBANK RESPONSE:• GBC• Blockchain Xcellerator• MS Ambassadors • SSS UMID• Pag-Ibig• i2i• GlobalLinker

REGULATORS, LGUS, GOVERNMENT AGENCIES

TOP CONCERNS: Labor issues, occupational health and safety

ENGAGEMENT CHANNELS: Reportorial Submissions

FREQUENCY OF ENGAGEMENT: Annual, or as needed

UNIONBANK RESPONSE:• Sustainability report• DOLE workplace inspections

SHAREHOLDERS

TOP CONCERNS: Risk mitigation and effectiveness of approach ENGAGEMENT CHANNELS: Board and Committee Meetings, Financial results briefings

FREQUENCY OF ENGAGEMENT: Annual (stockholders’ meeting), Quarterly (financial results briefings)

UNIONBANK RESPONSE:• Investor relations briefings• Sustainability report

EMPLOYEES

TOP CONCERNS: Health and medical benefits; health & safety; loans and government-mandated benefits;inclusion (for example, health and safety includes workers in UnionBank-controlled workplaces)

ENGAGEMENT CHANNELS: HR Helpdesk

FREQUENCY OF ENGAGEMENT: Daily (HR services), Bi-weekly (Employee Relations initiatives)

UNIONBANK RESPONSE:• Health and medical assistance (apart from

PhilHealth) are provided to employees• Safety audits• ERT training• In-house clinics and accredited hospitals• Tutok-Kalusugan• Health programs• Annual physical exams,• Health management policies (including flu,

Tuberculosis, Hepatitis A and B, etc.)• Eight employees are members of the Health

& Safety committee


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About the Report








Materiality Assessment

For this 2019 Sustainability Report, UnionBank’s Technical Working Group (TWG) revisited the previous

year’s materiality assessment. The process defined a long list of sustainability topics from the Global

Reporting Initiative (GRI) Standards, the Sustainability Reporting Guidelines for Publicly Listed

Companies from the Security and Exchange Commission (SEC).

These topics were reviewed in light of the Bank’s previously published sustainability reports. The list of

topics was validated and cross-referenced against customer feedback, branch customer satisfaction, and

UnionBank’s transformation strategy and key performance metrics.

Finally, the material topics were defined and prioritized based on their impact to UnionBank and

their importance to stakeholders. The final list of topics are those that have significant impact to

UnionBank and are of the highest importance to our stakeholders. Employee and customer feedback

from 2019 were used to update and prioritize the sustainability topics. (102-47)

Employee Experience

(including Training and Development, Compensation and Benefits)

Labor Standards and Human Rights

Diversity and Inclusion

Customer Experience

Community Engagement

Employee Volunteerism

Socioeconomic Compliance

Environmental Compliance

Climate Change Issues

Risk Management for Sustainability Management

Inclusive Prosperity

Financial Performance

Sustainable Finance

Indirect Economic Performance

Business Ethics

Anti-Corruption Practices

Procurement Practices

Risk Management

Information Security (including Data Privacy and Integrity, Cybersecurity and Resilience)

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About the Report








Our management approaches are determined by our materiality assessment, in line with our Sustainability Policy and Framework, our parent company Aboitiz Group’s sustainability agenda, and the global effort toward the attainment of the United Nations Sustainable Development Goals (UN SDGs). To aid monitoring and evaluation of our sustainability practice, UnionBank releases a sustainability report (SR) every year. (103-3)

The Bank cultivates an agile and non-discriminatory workspace for a future-ready, interdisciplinary workforce. Talent development and employee engagement programs empower UnionBankers to #OwnTheFuture. All UnionBankers are considered sustainability champions and encouraged to participate in the Bank’s sustainability initiatives. (103-1)

The Bank integrates human rights in business management and complies with relevant standards and

laws on security and safety. To promote holistic development and work-life balance, UnionBank has

established programs that are geared toward developing the workforce’s physical fitness and well-

being; intellectual growth and satisfaction; financial security and peace of mind; and emotional and

spiritual health. GoBeyond Communities, the Bank’s volunteer-driven CSR program, allows employees

to shape the social initiatives of UnionBank. (103-2)

Employee engagement is measured on a year-on-year basis using the Gallup Global Best Practice

Score through the Aboitiz Culture and Engagement Survey. Customer service surveys are also in place

to ask our customers how we are doing in serving their banking needs. Community impact assessment

and feedback mechanisms inform our outreach programs. (103-1)

Our Management Approach

People

MATERIAL TOPICS (102-47) GRI INDICATORS

Employee Experience 102-8 Information on employees and other workers401 Employment403 Occupational health and safety404 Training and education403-2 Types of injury and rates of injury, occupational diseases, lost days, an absenteeism, and number of work-related fatalities

Labor Standards And Human Rights

102-41 Collective bargaining agreements

Diversity And Inclusion 405 Diversity and equal opportunity

Customer Experience (including Customer Privacy)

416 Customer health and safety417 Marketing and labeling418 Customer privacy

Community Engagement Employee Volunteerism Socioeconomic Compliance

203 Indirect economic impacts413 Local communities419 Socioeconomic compliance

Planet

MATERIAL TOPICS (102-47) GRI INDICATORS

Environmental Compliance 301 Materials302 Energy303 Water307 Environmental compliance

Climate Change Issues 305 Emissions

Risk Management for Sustainability Management

102-30 Effectiveness of risk management processes102-32 Highest governance body’s role in sustainability reporting


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Our Management Approach

Purpose

MATERIAL TOPICS 102-47 GRI INDICATORS

Inclusive ProsperityFinancial PerformanceSustainable FinanceIndirect Economic Performance

201 Economic Performance

Procurement Practices 102-9 Supply chain204 Procurement practices

Business Ethics 102-16 Ethics and integrity

Anti-Corruption Practices 205 Anti-corruption

Risk Management 102-30 Effectiveness of risk management processes

Information Security(including Data Privacy and Integrity, Cybersecurity and Resilience)

418 Customer privacy

UnionBank strives to work in harmony with the environment (103-1). To ensure continued sustainable

operations, company headquarters UnionBank Plaza runs on 100% renewable energy through the

AboitizPower’s Cleanergy brand. UnionBank subscribes to the US Green Building Council’s Leadership in

Energy and Environmental Design (LEED) certification program, with branches either LEED-certified or

LEED-compliant. As a result, UnionBank’s facilities have become more efficient and resource-saving. The

Bank also remains committed to the Aboitiz Group-wide program A-Park, which aims to plant 9 million

trees by 2020 (103-2).

Committed to bringing the future of banking to the present, UnionBank develops innovative products

and services that add value to the lives of our consumers. We promote financial literacy and inclusion,

bringing accessibility and banking convenience to the underserved and unbanked. UnionBank’s

business partnerships are targeted to help develop the local economy, improve the customer

experience of banking, and provide a significant return on investment. (103-1)

Notable projects include i2i, which extends inter-island banking connectivity and elevates rural

banking; and GlobalLinker, which provides digital solutions for micro-, small, and medium

entrepreneurs. From a macro perspective, UnionBank is also exploring solutions that would further

strengthen information security and support anti-corruption and anti-money laundering policies and

procedures. (103-2)

The Bank undergoes regular self-assessment and is compliant with reporting standards required

by the Bangko Sentral ng Pilipinas, the Securities and Exchange Commission, the Philippine Stock

Exchange, and the Bureau of Internal Revenue. (103-3)


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Joint Message of the Chairman and the President & CEO

Dear Stakeholders,

Despite the massive disruption that the COVID-19 crisis has created, UnionBank’s digital transformation has

bolstered the foundations of the business, allowing the Bank to be resilient while responding to both the

challenges and changes brought about by the global crisis.

The corona virus pandemic clearly demonstrates the vulnerability of our globally interconnected economies.

The virus is not only claiming human lives, it is putting the entire political and psychological immune system

of globalization to the most severe stress test yet. While we expect UnionBank, like any other bank, will be

adversely affected by economic challenges posed by these events, we believe that our digital transformation

and capital position will be more than enough to absorb the stress on our balance sheets.

Prudence, capital strength, and a mindset to create innovative solutions will help us steer through the crisis.

Innovating Together, the theme of our sustainability report, reflects our parallel efforts to continue with our

digital transformation while co-creating innovative solutions to help make our world better.

Unprecedented Highs and Lows

Prior to the pandemic, we put the pedal to the metal and boldly go where few have ventured as we leveraged

on the expertise of various sectors to come up with out-of-the-box solutions. Your Bank gained momentum

and in 2019, we achieved what you would call a good harvest year. Our resources spiked to a five-year high at

PhP 770.8 billion, with net revenues at PhP 36.7 billion (from PhP 18.5 billion in 2015), and net income at

PhP 14 billion (more than doubled from PhP 6 billion five years ago, and a 104% increase year-on-year).

Then came the back-to-back disastrous events in the first quarter of 2020: the Taal Volcano eruption in

January 2020 and Covid-19 which caused a global pandemic by March 2020. Both resulted in disruption of

business operations with the latter culminating in an extended lockdown in Metro Manila and other regions

More than just integrating digital into our everyday processes, we place customers at the heart of everything that we do.

Justo A. OrtizC H A I R M A N

Edwin R. Bautista P R E S I D E N T & C E O

(102-14)


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These events made digital banking become even more relevant. Due to limited access to brick and mortar

branches, on account of the enhanced community quarantine (ECQ), customers are compelled to embrace

mobile and internet banking. In March 2020 alone, UnionBank had a 160% growth in daily sign-ups on our

online and mobile baking portals.

Among UnionBank’s first initiatives when the ECQ took effect was to start an online fundraising campaign,

even providing the option to convert credit card points into cash donations.

It is in times of crisis when the Filipino character and the bayanihan spirit shines. UnionBankers win as one,

and we act as one. Our employees did not hesitate to extend helping hands to their fellow Filipinos in need

during the Taal eruption and the Covid-19 outbreak.

Through UnionBank’s CSR program, we donated PhP 3.8 million worth of personal protective equipment

to medical frontliners, PhP 1 million worth of food and basic supplies to our host community in San Pedro,

Laguna, and PhP 1 million to support the nationwide food program of Aboitiz Foundation. Through our in-

house volunteerism program, GoBeyond Communities, our employees have given aid to more than 6,000

communities in Metro Manila. UnionBankers have donated both their money and their time—and we cannot

be more proud of them.

Partner in Innovation

With UnionBank’s Digital Transformation Strategy, we strive to power the future of banking through

innovation, more so in today’s drastically changed landscape. More than just integrating digital into our

everyday processes, we place customers at the heart of everything that we do. Innovating together or the

act of co-creating solutions means that the technology we develop is derived from customers’ unique

experiences and perspectives. It has to fit their lifestyle. It has to bear their imprint.

We work with the best professionals—data scientists, engineers, programmers, designers, marketers—

to launch industry firsts. We’ve introduced “Rafa” the chatbot for our customers, The Portal financial

supply chain for corporate business, GlobalLinker for SMEs, and i2i for rural banks. Our ever-evolving

portfolio of technology initiatives and creative platforms is being designed using our agile operating

model. Once a product is tested and proven viable, we take the first-to-market approach and begin

commercializing that product. Recently, we created our subsidiary UBX, which is growing our portfolio

of blockchain- and innovation-driven portfolio of products and services.

One of our award-winning efforts is The Ark, the first fully digital bank branch in Southeast Asia.

This 2019, we’ve gone from one state-of-the-art branch to a total of 47 The Ark branches.

UnionBank was the lone Philippine banking institution that participated at the annual Singapore Fintech Festival (SFF) held at the Singapore Expo in October 2019. Singapore Prime Minister Lee Hsien Loong chats with UnionBank chairman Justo Ortiz and President and CEO Edwin Bautista as he made a stop at the our exhibition – the first booth he visited at the SFF. We showcased the Bank’s technologies, along with those of our fintech and thrift subsidiaries UBX and CitySavings, consistent with our relentless drive to extend more affordable and accessible financial services to all Filipinos here and abroad.”



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We are now designing ARK 2.0, the very first smart branch enabled by 5G technology and the Internet of

Things. With a completely digital platform and a highly personalized experience, The Ark is just a preview

of what the future of banking holds for the country.

The Power To Transform

We believe in the power of digital to transform lives. We’ve set a target to help 50 million digital

customers; one million will be entrepreneurs. With our rallying cry of “Tech UP Pilipinas,” we dedicate

ourselves to enhancing the country’s technical capabilities. We aim to be a catalyst and leader for

development, and to grow holistically within the framework of our sustainability pillars of Purpose,

People, and Planet.

We would like to conclude by expressing our sincere gratitude to our stakeholders for your continued

support and the confidence you have placed in us. To all our employees, thank you for your hard work

and dedication to living out the UnionBank DNA and core values of integrity, magis, and ubuntu, which

shine in today’s most trying times. Truly, you have earned the accolade “Bank Heroes” as you continue to

provide service to our customers who need financial resources to survive the pandemic. Your individual

and collective contributions are what make UnionBank a great place to work. We are proud to have all of

you as part of this organization.

UnionBankers know our higher purpose, we are already ahead of the curve, and we have seen the value

in innovating together to find solutions for pressing problems. We invite you to join us in UnionBank’s

ongoing journey to build a bank of enduring greatness. We will foster collaboration, partnership, and a

shared purpose of co-creating innovations for a better world.

We believe in the power of digital to transform lives.


JUSTO A. ORTIZChairman

EDWIN R. BAUTISTAPresident & CEO


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We strive to be a Bank of

purpose.

We create the conditions that place us ahead of the curve, ensuring that not one of our stakeholders gets left behind.

We harness technology to enable greater financial inclusion and sustainable prosperity for our customers.

We also engage our entire workforce, so that we can innovate together, and be true champions of sustainability.


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Sustainability Policy and Framework

Our Sustainability Policy guides our corporate decision-making at all levels and provides a frame of reference on how we contribute to sustainable development, while managing

the risks and opportunities of a changing world.

Our corporate governance is linked to our sustainability agenda, with our Chairman, the highest-ranking official in the company, providing the sustainability direction. (102-32)

Uphold, protect, and respect the environment, human

rights, and labor standards

Engage internal and external stakeholders for continuous

improvement and to promote cooperation

Foster the development of in-house learning, management

capacity, and leadership on sustainability issues

Contribute to enhancing positive social and

environmental impacts

Implement inclusive business programs

and initiatives

Communicate transparently about our sustainability

performance

Comply with all national laws and regulations

Provide products and services that:

Contribute to the well-being of people,

the environment, and the economy

Reduce or avoid unsustainable

practices

Demonstrate positive impacts to the most

important issues of the business

UnionBank commits to:


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Our Sustainability Framework

Framework for Sustainable Banking Network

and Alliance for Financial Inclusion

In response to the growing demand for financial inclusion

in the country, the Bangko Sentral ng Pilipinas (BSP),

a member of the Sustainable Banking Network and

Alliance for Financial Inclusion, has begun creating a

policy framework for finance. In this new framework, the

BSP is putting the focus on launching capacity building

initiatives, awareness campaigns, and enabling regulations

that prompt banks to reassess and regulate their

environmental, social, and governance (ESG) impacts.

As an organization under the jurisdiction of the BSP,

UnionBank will be compliant with the new provisions.

UnionBank has long been dedicated to contributing to

positive change in the country. In fact, UnionBank was one

of the first to conduct a Sustainability Report long before

it was even required. With the implementation of the new

guidelines, we are committed to aligning our efforts to

that of BSP to achieve a unified approach toward

sustainable financing.

Sustainable Development Goals

UnionBank supports the United Nations Sustainable

Development Goals (UN SDGs) through existing initiatives of

the Bank, many of which are tied to broader programs in the

Aboitiz Group and in support of the national agenda of

the government.

Ultimately, the Bank promotes long-term economic growth

by increasing the capacity of individuals and organizations

in wealth management, as well as by empowering small-

scale businesses and entrepreneurs.

As a responsible company, UnionBank strives to minimize

its environmental footprint by adopting the Leadership in

Energy and Environmental Design (LEED), among other

environmental initiatives to effectively manage the Bank’s

facilities and resources.

We own the future.

The success of our employees is our success. Through our culture of innovation and co-creation, we ensure that our employees and partners can #OwnTheFuture.

We save resources.

We manage our resource use and environmental impact while encouraging all our stakeholders to lead sustainable lifestyles, with consideration for the future generation.

We co-create innovations.

UnionBank has been the country’s pioneer in transforming the banking industry. No one gets left behind as we encourage co-creating innovations for a better world.

P E O P L E

P L A N E T

P U R P O S E

(102-12)


20

About the Report








Sustainability At A Glance: Our 2019 Scorecard

2019 RESULTS 2018 RESULTS

P E O P L E Job creation (employee headcount)5,174 4,769

Safe man-hours 7,394,688 (zero lost-time incidents) This was not previously reported.

Average training hours 21 21

Employee volunteerism 24,595 hours 17,547 hours

Employee engagement (using Gallup tool) 4.24 4.23

Customer service satisfaction rating 4.61 4.28

Customer count 8,525,817 accounts 8,098.734 accounts

Corporate social responsibility 2,050,373 beneficiaries 1,982,475 beneficiaries

GlobalLinker SMEs 40,000 sign-ups 35,000 sign-ups

Spending on local suppliers PhP 3.3 billion PhP 1 billion (does not include CitySavings)

Energy consumption 85,612 GJ 73,075.42 GJ

GHG emissions 25,503.19 tCO2e 11,189.84 tCO2e

Water consumption 120,787 m3 134,831.74 m3

LEED-certified branches 22 (UnionBank only) 20 (UnionBank only)

Paper 74,861 reams 39,461 reams

Ink Toners 11,104 cartridges 8,887 cartridges

Paperless transactions processed 720,198 This was not previously reported.

P L A N E T

P U R P O S E


21

About the Report








Our employees become the Bank’s ambassadors in the markets and communities we serve.

We come up with disruptive and progressive

ideas that challenge what is possible.

We hope to bring not just our products and

services, but also our values and can-do

culture to the community, so that we can help

uplift the Fi l ipino way of l i fe.


22

About the Report








We invest heavily in the holistic development of our talents, and continually strive to build a

company culture that is based on collaboration, inclusiveness, and excellence. We intend for

our talent pool to remain at the forefront of the banking industry through agility and continuous

skills development in the workplace. We aim to develop experts who are competent in the skills

needed in the world of banking today.

We practice equal opportunity hiring, promotions, and pay. We also offer training to all our

employees. The main advantages of an Agile environment are adaptive learning, intuitive

product and service design, and the ease and speed of receiving feedback leading to accelerated

release to market. (103-1, 103-2)

Guided by the Agile Workspace, the Bank is focused on developing four pillars to optimize

performance: organizational design, capability development, leadership, and culture. AGILE2020

marked a significant shift of the organizational structure from a linear and traditional one toward

cross-functionality and pluralism among employees, who are empowered to go beyond their

own fields of expertise by acquiring inter-disciplinary skills. With this framework, we aim to foster

a culture of interconnectedness that allows us to collaborate and co-create innovative solutions.

People Tech: Building the skills of the future today


23

About the Report








Innovating together

We inspire our employees to grow beyond their respective departments by adopting a holistic set of

skills, so they can work competently and confidently regardless of the situation. We not only look at the

demands now, but we also prepare our employees for the many “futures of work.”

We developed the Agile Operating Model (AOM), a blueprint for how UnionBankers will operate in an

agile environment. The AOM designs the Bank’s interactions, ways of working, and governance.

More importantly, this operating model is designed to build the bank’s capabilities for the future.

To allow innovations to happen everywhere, we have cross-functional squads and teams coming

from the various chapters. They are empowered, self-organized, agile, and able to collaborate toward

fulfilling their customer missions.

• Squads are organized according to tribes of customer segments.

• Talents are supplied by HR to the squads based on the need.

• A strategic investments committee evaluates the business propositions and approves the funding.

• Centers of Excellence focus on emerging capabilities and technologies.

• Customer experience delivery channels bring our products and services to the customers.

To future-proof our Bank, and provide opportunities for UnionBankers to innovate

together, we have also created a supportive infrastructure, alongside processes and

resources, that serve as organizational enablers.

Blueprint for Success: Agile Operating Model

2019 2018

Squads 33 27

Teams 75 68


24

About the Report








Diverse Talent Pool

Potential Successors

Talent ManagementUnionBank and subsidiary CitySavings builds on the strengths of an agile and diverse workforce.

By the end of 2019, very few of our employees were on probationary status; the majority had already been on-boarded as permanent employees.

Good succession planning ensures that we have ample talents to tap for senior leadership positions.

As a matter of policy and in compliance with the Labor Code of the Philippines, UnionBank has zero hires under the age of 18. The Bank also had zero incidents of child labor, forced or compulsory labor, or human rights violations in 2019.

UNIONBANKTOTAL HEADCOUNT: 3,525 TOTAL HEADCOUNT: 1 ,649

UNIONBANK

CITYSAVINGS BANK

CITYSAVINGS BANK

62%

Supervisors SupervisorsManagers Managers40% 13.22% 26.44%33%

58%38% 42%

* The CBA lasts for 5 years. However, not later than 3 years after the execution of the CBA, the economic provisions are renegotiated. The provisions of the active CBA are open for discussion 30 days prior to its expiration date. Any changes that will affect workers are communicated during scheduled meetings with management.

Complete data on employee demographics can be found in the Annexes

Young Majority Hiring and Attrition Attrition Rate 13.2%Most of our bank employees belong to the 30-50 age range, followed by those below 30 years old.

UNIONBANK

UNIONBANK

UNIONBANK

CITYSAVINGS BANK

CITYSAVINGS BANK

CITYSAVINGS BANK

30-50 years old

Probationary

Resignations

Probationary

Resignations

30-50 years old<30 years old

Permanent

New Hires

Permanent

New Hires

<30 years old1,204

93.36%

345

95.82%

1026422,025

6.64%

463

4.18%

113967

Inclusive WorkplaceWe value the contributions of everyone in the UnionBank family, including our minority groups.

UNIONBANK CITYSAVINGS BANK

> 50 years old 8%

0.1%

19%

2%

0%

47%

Belonging to vulnerable sector (3 PWDs)

Employees covered by CBA* (102-41)

Human Capital Profile (102-8, 405-1)

(401-1)


25

About the Report








Enabling capabilities through UB Xcellerator

As digital and emerging technologies such as Blockchain, Data Science, Artificial Intelligence, and

Machine Learning have increasingly been adopted by companies across different industries, there has

also been an increase in demand for talent who are equipped with such technical skills. However, there

is a huge gap on the current supply of talent who are proficient on these new technologies.

UnionBank saw the need to create a knowledge center for new technologies with the aim of building

up the capabilities of Filipino workers, making them tech-ready for emergent digital landscapes. The

objective of the program is to create exponential impact through building digitally proficient talents

by creating mentors, empowering educational institutions and designing new ways of learning like

innovation garages, hackathons, and the like.

We are focusing on educational institutions as they are the prime movers in imparting knowledge and

honing the skills of the next generation. By enabling our educational partners, we are able to increase

talents that will bring about innovations and game-changing products.

By creating the UB Xcellerator program, which uses rich media and practical applications, we are

sparking interest on the new wave that is blockchain technology and how impactful it is to modern

society. Seeding talent in the Xcellerator program that will be proficient in such technology allows

UnionBank to future-proof the country’s talent pool.

STI Education Services Group, Inc.

AMA University

Asia Pacific College

Technological Institute of the Philippines

University of the Philippines Diliman

University of Makati

University of Santo Tomas

De La Salle - College of Saint Benilde Manila

De La Salle Lipa

Mapua University Manila

Educational Partners

The objective of the program is to create exponential impact through building blockchain talents by creating mentors, empowering educational institutions and future-proofing the Philippines.


26

About the Report








In the ever-changing landscape of banking, today’s search for talent is no longer just about having

a traditional academic background. UnionBank acknowledges that skill and talent can come from

anywhere. With this in mind, we have shifted our focus from competencies to capabilities. We no longer

limit our hiring qualifications to degrees alone, but instead look for talents who can provide meaningful

and creative solutions, regardless of their background.

We continue to create channels where talented individuals can be discovered and given career

opportunities. (413-1)

Tahanang Walang Hagdanan Command Center

UnionBank operates the Tahanang Walang Hagdanan, Inc. (TWHI) Command Center

where differently-abled individuals are given training on information technology and basic

programming. In partnership with the Information Security Technology Services Group

(ITSG), three project hires joined the team and worked remotely from the Command Center

under a one-year contract.

Data Science and AI Institute (DSAi)

UnionBank launched the Data Science and AI Institute on July 22, 2019 with a six-

week training and mentoring program on data science and artificial intelligence. The

UnionBank Data Team, together with For the Women (FTW) Foundation, chose 15 external

candidates and 35 internal candidates as initial mentees. Prior to the batch’s graduation,

the participants presented their Capstone Projects to a panel of UnionBank Executives.

From the 15 external candidates who were trained under the program, 10 were hired by

UnionBank to become regular employees.

From Competencies to Capabilities

Uhackademia Zamboanga

UnionBank hosted its very first UHack in Zamboanga on October 11 – 12, 2019 with a

total of 46 participants. Composed of both students and professionals, a total of 11 teams

competed during the event and worked to solve the different challenges posed by the

Bank.

External Partnerships

UnionBank is also active in working with external partners through sponsorships and job

fairs. In 2019 this included the UP Cursor – Computer Science Summit (September 2019),

Internet of Things Summit Philippines (September 2019), MAP Women’s Forum Expo and

Job Fair (October 2019), and the ADB Career Fair 2019. Moving away from the traditional

sign-up protocol, the UnionBank booth engages fair attendees with interactive activities

such as board games, UnionBank-related puzzle games, and even through a ball pit

puzzle-solving experience.


27

About the Report








Anchored in its design objective of delivering a delightful employee experience through technology,

UnionBank’s centralized digital HR platform and lifestyle app, One UnionBanker Hub (1UHub), offers a

fast, reliable, secure, and user-friendly channel to access human resource programs and services across

the employee lifecycle.

With a monthly average log-in of over 23,000 users in 2019, 1UHub, for example, made it easier for

employees to submit employee benefit service requests. Any UnionBanker is able to send a request in

less than a minute from their mobile devices or laptops, and this is instantly credited to their nominated

accounts.

1UHub produced four iterations in 2019 that focused on key strategic areas including Performance

Management, Employee Engagement, and Capability Building.

Employee Experience: 1UHub

LeavesPreventive Health Care And Medical Benefits Educational

Tenure-Related Benefits, Pension And Life Insurance Loans And Leases Other Perks

• Vacation Leave• Sick Leave• Service Incentive Leave• Parental Leave

- Maternity Leave - Paternity Leave - Solo Parent Leave

• Emergency Leave• Special Leaves for Women

- Magna Carta Leave (for treatment of Gynecological Disorders) - Violence Against Women and Children Leave

• Birthday Leave• Bereavement Leave

• Group Health Plan (Group Hospitalization Plan Coverage, Out-Patient Reimbursement for Managed Care)

• Annual Physical Exam and Executive Check-up

• Annual Medical and Dental Allowance

• Optical Care• Dental Care Reimbursement• Employee Vaccination

Program and Subsidy

• Educational Aid• Educational Plan

Subsidy• Board Certification

Leave

• Thirteenth-month Pay• SSS• Pag-Ibig• Service Awards• Separation Pay• Retirement Plan

(separate from SSS)• Life Insurance Benefit

• Multi-Purpose Loan - Salary Loan - Emergency Loan - Computer Loan - Housing Assistance Loan (separate from Pag-Ibig) - Motorcycle Loan

• Leases - Laptop/Tablet - Car Lease

• Baguio Staff House Reservation

• Gym Membership• Events Budget

Allocation

As a result of this obsession with service quality, the Human Resources Group, in partnership with

the Information Technology Services Group (ITSG), has fully automated 65% of HR processes. They

reduced the overall turnaround time for HR transactions by 99%, sustained an average service rating

of 4.54 out of 5, and realized PhP14.3 million in cost savings by decommissioning of HR legacy systems

and process streamlining.

Steadfast in this mission of co-creating solutions with stakeholders and championing employee

experiences, UnionBank was awarded the Achievement in HR Technology by the Asian Banker, and

Excellence in HR through Technology by the Philippine Best Employer Brand Awards in 2019. In

addition, the 1UHUB app was also awarded Best Lifestyle App by IDC.

Employee Benefits (401-2)UnionBank provides employees with a variety of benefits, going beyond what is mandated by law.


28

About the Report








Partnering with the Trust and Investment Services Group and employees, the Human Resource

Group (HRG) co-created the Employee Retirement Pension Fund in April 2019 in order to augment

the Bank’s existing retirement benefit. Embedded in the 1UHub platform, the fund allows

employees to contribute a portion of their monthly salary toward investment, enabling them to

achieve their future financial goals.

Through the 1UHub app, they are able to top-up their contribution amount, review the fund’s

historical performance, and watch the growth of their investment from their mobile devices.

Performance Appraisals and Rewards

Through the 1UHub app, UnionBankers are also able to set goals, receive instant feedback,

engage in performance discussion, request coaching from their line managers, and receive

performance appraisals. UnionBankers may similarly recognize the everyday successes and

achievements of others by issuing electronic rewards, which they may redeem to over 500

merchants with over 7,000 establishments nationwide.

Learning Pathways

Supporting the Bank’s shift from a competency-based to a capability-based learning

philosophy, the 1UHub platform augmented the My Learning module to include learning

pathways. Through this, UnionBankers are able to avail a curated set of learning tasks that

includes articles, books, e-learning videos, in order to build their digital capabilities, among

the other channels used by UnionBank University to push learning across the organization

including Microsoft Sway and Sharepoint.

Building a Retiree’s Nest Safety and Health at Work

The UnionBank Occupational Health and Safety Committee (OHS) Committee is tasked with ensuring

compliance with general requirements such as the DOLE-OSH standards, environmental standards,

BSP requirements, and local laws applicable with our branches located in municipalities that have their

corresponding ordinances. (103-2)

OHS continually monitors and coordinates with the various branches regarding their status and concerns.

To streamline this process, the Bank launched a digital tracking and monitoring system that allows the

branches access to their pending OHS concerns. (103-3)

There were ZERO LOST-TIME INCIDENTS at UnionBank in 2019.

No FatalitiesNo Restricted Work CaseNo Medical Treatment Case

At CitySavings, there were 48 lost days recorded, mostly for hypersensitive skin reactions, minor abrasions, headaches, and the like. There were also zero fatalities from the subsidiary.

7,394,688 118SAFE MAN-HOURS SAFETY DRILLS

Banner Year For Safety

Good Heal th and Well-being

(403-2)


29

About the Report








UnionBank University’s tagline: Growing Leaders. Building Expertise. Innovating

Business. Taking learning beyond the classroom, UnionBank University is a web

portal that allows UnionBankers to learn and earn certifications on new banking

programs and processes (e.g., ARK for Corporate), compliance courses (i.e., e-modules

on information security, enterprise risk management, anti-money laundering, and

anti-fraud), as well as advanced e-learning courses on coding and design (e.g., design

thinking, blockchain, and ethical hacking for security testing).

The University provides UnionBankers with the means to test their potential and

learn from different disciplines. All employees are invited to avail of the programs and

seminars free of charge. This borderless way of functioning allows for flexibility and

freedom in the personal and career development of our employees

UnionBankers are able to complete and be awarded their certifications online, as

well as be notified and register early for networking opportunities relevant to their

interests and roles.

UnionBank University E-Learning

Disaster Risk Reduction

UnionBank is vigilant in preparing for potential emergencies. Currently, disaster management

includes a safety drill every month per floor at the UnionBank Plaza head office, an evacuation

drill every quarter in each branch, and an earthquake/fire drill twice a year in the head office and

the various branches. From existing bank-wide policies, OHS hopes to develop and enforce new

policies that aim to give branch-specific or localized guidelines by Q1 of 2020, and implement the

changes by Q2 of 2020.

To strengthen the competencies of UnionBankers, the OHS Committee conducted a series of OHS

training sessions for UnionBank branches in Mindanao in 2019. As a result, overall interest and

participation in health and safety concerns increased in the Mindanao branches. Building on what

they had learned from their sessions, the officers took stock of branch-specific risks and formulated

emergency plans. There is also interest in conducting echo seminars to cascade the information to

their co-workers.

An employee gets an average of 21 training hours

An employee gets an average of 21 training hours

UNIONBANK CITYSAVINGS BANK

Average training hours provided to employees (404-1)


30

About the Report








#OwnYourWellness

#OwnYourWellness aims to attain a holistic approach on aspects of wellness that are considered to be the

most important to the employees. Programs are designed to develop the employees’ physical, mental,

and financial wellness.

UnionBank follows the 3Es in implementing wellness initiatives:

• Educate employees on being responsible and “owning” their personal wellness.

• Enable employees to pursue wellness within the workplace through wellness activities.

• Empower employees to sustain these wellness habits, and solidify these practices, within

UnionBank’s company culture.

Owning Physical Wellness

The Bank actively promotes living a healthy and active lifestyle through

exercise and nutrition, regular health risk assessment, health education, and

preventive measures such as immunization. UnionBank also holds athletic

tournaments and fun runs (i.e., U Run) to support and promote athleticism

among its employees. Workplace relaxation techniques and daily massages are

also available to the employees to help ease physical stress.

Owning Mental Wellness

Mental health is considered an important aspect of the overall wellness of our

employees. In October 2019, UnionBank made a monumental step toward

strengthening its mental health programs with the establishment of a Mental

Health Policy. To help with the stresses of work and everyday life, the Bank

conducts mental health awareness campaigns, and offers mindfulness training,

stress management sessions, counselling sessions, employee assistance

programs, and support groups. Recreational activities such as Family Day,

Halloween and Christmas programs, and other social events are also part of

our wellness initiatives.

Owning Financial Wellness

UnionBank considers financial wellness to be an integral part of the lives

of individuals. The Bank offers various programs, products, and services to

educate employees on financial literacy and wellness including a total rewards

benefit program, retirement and savings plans, and pension funds. To ensure

that our employees are well-equipped to achieve their short-term and long-

term financial goals, the Bank also organizes forums and retirement fairs.


31

About the Report








In the interest of nation-building and development, and in the spirit of Ubuntu, UnionBank continues

to create products—and projects—that are geared toward making a difference in the lives of the

communities we serve. Through company-supported and employee-driven initiatives, UnionBank works

together with these communities to create our vision of a better world. We not only provide monetary

donations, but also contribute the “sweat equity” of caring UnionBankers.

Employee Volunteerism

Go Beyond Communities

The GoBeyond Communities program (GBC), which marked its fifth year in 2019, has become a

trademark of volunteerism at UnionBank. With an annual budget of PhP 10,000,000, GBC is an

employee-driven program that provides the Bank’s workforce with the opportunity to initiate and lead

their own CSR initiatives. Employees are encouraged to submit project proposals on their personal

advocacies for endorsement by the Bank.

As an employee-driven initiative, the program also represents a shift in how CSR is practiced by a

large corporation. Through GBC, the Bank allows for CSR coverage to be planned from the grassroots,

encompassing a wide range of advocacies that are important to the employees themselves. The GBC

program is considered to be one of the benefits enjoyed by employees, as it allows them to enact

initiatives that are in line with their personal values and interests, even as they experience the sense of

belongingness or being one with humanity espoused by the Bank value of Ubuntu.

(203-1, 203-2, 413-1)


32

About the Report








GBC Milestones: A Look Back at 5 Years

DECEMBER 2013 JULY 8, 2015 APRIL 10, 2018 DECEMBER 2019

MAY 17, 2014 MARCH 10, 2017 MAY 2019

Since its launch in 2014, GoBeyond Communities (GBC) has implemented 770 employee-driven projects which have impacted the lives of 1.98

million beneficiaries in 860 communities nationwide. GBC embodies how UnionBankers truly are part of something bigger than ourselves.

Beyond The Bank

In a bid to provide UnionBankers

a platform to elevate the lives and

fulfill the dreams of their immediate

communities, then Chairman and

CEO Justo A. Ortiz encourages the

Human Resources Department to

develop an employee-driven social

responsibility program.

The Bank receives the Gold Award for Corporate Social

Responsibility (CSR) for GoBeyond Communities at the

Asian Banking and Finance Retail Banking Awards held

in Singapore. The Bank is also recognized as the Silver

Employer of the Year.

The Bank launches the GoBeyond Communities

Portal, a web-based system that facilitates

project proposal, approval, and management.

The Portal allows all UnionBankers to submit

project proposals or to sign up for activities

in a convenient and paperless manner. The

Portal also serves as an interactive platform for

UnionBankers to share their experiences and

sustain the volunteerism momentum.

UnionBank completes “Uplift: Stories that

Go Beyond,” a coffee table book celebrating

five years of life-changing projects that

seek solutions to community problems , for

publishing and release in 2020.

UnionBank officially launches GoBeyond

Communities. The launch program, called

the “KabUhayan and KaayUsan” campaign,

helps rehabilitate the “Kariton ng Buhay”

food stalls of select residents of Barangay

Oranbo, Pasig City. In all, 121 volunteers,

composed of UnionBank employees and

their friends and family, committed 726

hours to the said project.

The Bank receives a Gold Anvil for GoBeyond

Communities at the 52nd Anvil Awards, organized by

the Public Relations Society of the Philippines (PRSP) to

honor outstanding public relations programs and tools.

The Bank celebrates five years of GoBeyond Communities. As

the program hits its milestone year, it has seen 22,918 volunteers

reach 907 communities nationwide.


33

About the Report








In 2019, the GBC program completed 127 of these projects under its four focus areas, which are aligned

with the Bank’s sustainability agenda:

The year 2019 saw great participation across the Bank’s various departments and ranks. Data has

shown that the Branch Channel Management has been the most active department in terms of GBC

involvement, and that employees with the rank of Officer are the most active in participating in and

leading GBC initiatives.

(Some of UnionBank’s GBC projects are multi-pronged. For example, Tahang Walang Hagdanan, Inc. Command Center training in partnership with the ITSG provides livelihood training for differently-abled individuals and, at its core, promotes inclusion.)

ENVIRONMENT EDUCATION INCLUSIONEMPLOYMENT &

LIVELIHOOD

Tree planting

Coastal clean-up

Turtle hatchling release

Maintenance and rehabilitation of public

school facilities (Brigada Eskwela)

Knowledge and

technology transfers for schools

IT equipment donations

Education support and wellness activities for survivors of domestic

violence and child sexual abuse

Visits to a home for the elderly

Smile Train PH – access to free cleft palate

surgery

Livelihood training and workshops

Talks on financial literacy

(203-1, 203-2, 413-1)


34

About the Report








Sometimes, even our educators need a learning boost. Microsoft Philippines estimates

as many as 600,000 teachers, residents of island barangays and isolated areas across

the country, who lack the technical tools to teach effectively. Public school teachers, in

particular, shoulder the extra burden of insufficient governmental support for additional

training, materials, and facilities.

In response to this need, the Microsoft Education Ambassadors (MEA) Program, a

partnership between Microsoft Philippines and the Department of Education (DepEd),

recruits private individuals to educate public school teachers on the use of digital

technologies for the classroom. When paired with GoBeyond Communities, the MEA

Program gives UnionBankers the opportunity to give back to the schools and the

teachers that helped shape them into the professionals they are today.

Under the program, UnionBank’s MEAs are being trained on the use of various Microsoft

tools and technologies that help improve productivity, classroom engagement, and

learning outcomes. UnionBank’s MEAs adopt and train at least one public school.

Microsoft has so far trained two batches of UnionBank MEAs, with the latest being 31 MEA

graduates who adopted at least 40 public schools before graduating in 2019. Aside from

providing training to teachers, UnionBankers have also donated computer hardware,

educational software, and other digital tools to their adopted public schools.

This partnership with Microsoft Philippines is just one way UnionBank creates

technology-driven solutions to promote inclusive development.

In celebration of GoBeyond Communities’ 5th anniversary, and as part of the

Bank’s wellness program, UnionBank also hosted U Run in August 2019. The fun

run was held as a culmination of a fundraising campaign in support of Children’s

Hour Philippines Foundation, Inc. UnionBankers donated an hour’s worth of their

salary to support the Children’s Hour’s education initiatives for Filipino youth.

They were able to raise PhP 25,500. All donors became eligible to join the annual

benefit run, which tied in to UnionBank’s wellness program to promote healthy

activities in the workplace.

MEA Ambassadors: Partners for Digital Literacy

U Run for Children’s Hour

(413-1, 203-2)

(203-2)


35

About the Report








UnionBank subsidiary CitySavings is known for its outstanding performance in its Corporate Social

Responsibility (CSR) initiatives. In 2019, the thrift bank was awarded, for the second time, by the Global

Banking & Finance Review, as the Best CSR Bank Philippines 2019. CitySavings champions projects that

promote financial inclusion and education, particularly in underserved communities in the Philippines.

CitySavings Advocacies

Brigada Eskwela

Dedicated to uplifting the quality of education of students around the country,

CitySavings has been a consistent partner of the DepEd’s Brigada Eskwela. Held

annually, the project mobilizes volunteers from the private and public sectors to clean,

repair, and repaint school facilities.

From May 20-25, 2019 a total of 873 CitySavings employees volunteered for the Brigada

Eskwela, themed “Matatag na Bayan para sa Maunlad na Paaralan,” to ready a total of

230 public schools for the opening of classes nationwide.

Project TEACH: Educator Empowerment Program

In partnership with Alchemy Education Solutions, Inc., CitySavings Bank continues to

push forward with its investment in education through its signature program, Project

TEACH. In 2019, there were 834 teachers empowered in 19 NCR schools.

CitySavings champions projects that promote financial inclusion and education, particularly in underserved communities in the Philippines

(203-2, 413-1)


36

About the Report








Alternative Learning System (ALS)

CitySavings is proud to work hand-in-hand with the DepEd in advancing its

Alternative Learning System (ALS) program. Driven by the dedicated team

of ALS teachers, the ALS advocacy aims to uplift the lives of individuals

by promoting literacy and inclusive education among marginalized

citizens who have limited or no access to formal education. To date, it has

successfully provided tools like laptops, LCD projectors, pocket wifi, and

external hard drives to support 4,500 mobile teachers and their students

across the country.

Project Synergy

In partnership with the Ramon Aboitiz Foundation Inc. (RAFI) and the Kool

Adventure Camp (KAC), Project Synergy aims to develop the values and

leadership skills of CitySavings’ various partners through synergistic and

experiential learning. The development program aims to equip public

school teachers and non-teaching personnel with the tools to hone their

personal strengths, strengthen their relationship with their co-workers,

and become better leaders. In 2019, 7 divisions partnered to train 85 school

principals via Project Synergy.

Project Pink

A partnership with the Ramon Aboitiz Foundation, Inc. – Eduardo J.

Aboitiz Cancer Center (RAFI – EJACC) and the Department of Education

(DepEd), Project Pink aims to increase public awareness on breast cancer

by organizing learning sessions, with breast cancer survivors invited as

speakers, to disseminate critical information to more women. In 2019, 30

training sessions were conducted for 2,552 participating teachers. Medical

missions have also became part of the program, with 200 teachers from

the Madridejos District in Cebu given clinical breast examination and

pap smear assessments. The examinations were conducted by trained

volunteer midwives from The Integrated Midwives Association of the

Philippines (IMAP) – Cebu Midwife Clinic, Inc. (ICMCI) and RAFI - EJACC.

Project Peraparasyon

Project Peraparasyon is another financial wellness initiative which aims to

empower public school educators through courses on financial literacy and

other relevant topics that fall under the Bangko Sentral ng Pilipinas (BSP)

Circular No. 857 (Financial Consumer Protection Framework).The program

trains public school teachers and non-teaching personnel from the DepEd

on simple and practical ways of saving, investing, and managing debts. In

2019, the bank was able to conduct a total of 490 sessions to more than

31,600 educators.


37

About the Report








Our activit ies have impact and we intend for the balance to be on the side of the environment.

We are ful ly committed to minimizing our carbon

footprint by “greening” our network of branches.

UnionBank Plaza, our headquarters, was the f irst high-

rise f inancial center in the Phil ippines to operate ful ly

through a renewable energy source in 2017. Through

the years, we have turned our bank branches and

workspaces into sustainably designed structures

fol lowing the principles of Leadership in Energy

and Environmental Design (LEED). As individuals,

UnionBankers are also making the choice to lead a

sustainable l i festyle.


38

About the Report








Innovation is the practice of creativity amid necessity—and this includes transforming the ways

we do business to prevent harm to the environment. UnionBank remains committed to the Race

to Reduce program (R2R), which highlights the Aboitiz Group’s commitment to manage resources

efficiently. This commitment encourages UnionBank all over the country to reduce consumption

of water, electricity, and paper.

UnionBank made a critical choice by institutionalizing sustainability and encouraging

UnionBankers to be protective of the only planet we have and share with the rest of humanity. As

we continue with our sustainability journey, and as CitySavings embarks on theirs, together we

hope to further improve on our environmental performance.

UnionBank’s modest sustainability efforts thus far have caught the eye of industry peers, earning

us a place among the Circle of Excellence Awardees for Green Company of the Year at the Asia

2018 CEO Awards.

Planet: Making the Choices that Matter


39

About the Report








Green Infrastructure: Lead through LEED

The LEED green building rating system provides the Bank a standard framework for identifying

practical and measurable green building design, operations, and maintenance solutions. Due to LEED

certification, for 10 years we have also committed to report our power and water consumption to the

Green Business Certification Institute, besides the statutory self-monitoring required by regulation.

With 22 of our branches LEED-certified and the rest LEED-compliant, UnionBank and all of its facilities

are committed to ensuring that its operations have minimal impact to the environment. LEED, or the

Leadership in Energy and Environmental Design, ensures that our facilities are built and maintained up

to standard requirements. Better buildings means better lives and UnionBank seeks to use materials

efficiently, reduce emissions, and save on water and energy resources.

We are committed to practicing energy efficiency, aided by the Bank’s digital transformation, and our

employees’ drive toward a more sustainable lifestyle. Our headquarters continues to be 100% powered

by renewable geothermal energy and we are currently tracking our usage.

We seek opportunities to conserve our resources, reduce our overhead costs, and avoid any negative

impacts on the environment.

The LEED Advantage17,521 kWh saved annually (per 200sqm branch)

Materials and Resources Management

ENERGY CONSUMPTION ELECTRICITY (IN GJ) FUEL (IN GJ)

UnionBank 58,399 597

CitySavings 10,426 16,190

SUBTOTAL 68,825 16,787

TOTAL 8 5 , 6 1 2

(302-1)


40

About the Report








Green Infrastructure: Lead through LEED

Given that the demand for water in the heavily populated metropolis is high, our employees are

conscientious about water use and have been practicing conservation measures. Our maintenance

activities also ensure that there are no leaks that result in wastage. Water-saving measures for

UnionBank, in particular, have been successful; we have managed to reduce water footprint to only

44% of what it was five years ago, falling to 90,970 liters from 207,016 liters.

As the Best Digital Bank for the third year in a row, UnionBank continues to ease digital processing

and web-based transactions for safer, faster, more convenient, and more sustainable banking. This

year’s 720,198 paperless transactions at UnionBank not only saved on material resources but also on

time and energy expended by our customers. We expect that the transition from a paper-dependent

bank to a digital one will ultimately reduce our paper wastage, although the effects will be seen in the

succeeding years.

As a responsible corporate citizen, we seek to contribute to mitigating climate change impact by

monitoring our GHG emissions. We are currently working with our parent company, the Aboitiz Equity

Ventures, for the standard formula that we will apply in our tracking program moving forward. Banking

on a changing world, UnionBank will continue to invest in technology and the knowledge systems to

stay relevant, competitive, and future-proofed against the environmental risks shared by all.

The LEED Advantage112 cubic meters saved annually (per 200sqm branch)

WATER CONSUMPTION 2019

UnionBank 90,870

CitySavings 29,917

TOTAL 120,787

TOTAL GHG EMISSIONS (UNIONBANK & CITYSAVINGS)

25,503.2 tCO2e

* GHG emission levels were computed using the grid emission factors for the region from the Department of EnergyMATERIALS CONSUMPTION

RENEWABLE (NO. OF PAPER REAMS)

Non-renewable (no. ink toner cartridges)

UnionBank 38,523 10,514

CitySavings 36,338 590

TOTAL 74,861 11,104

Managing Impacts to the Environment

GHG EMISSIONS (tCO2e) SCOPE 1 (Direct) Scope 2 (Indirect)

UnionBank 399.68 12,100.80

CitySavings 10,842.42 2,160.30

TOTAL 11,242.10 14,261.10

(303-5)

(301-1)

(305-4)

(305-1,305-2)


41

About the Report








Elevating l ives is not an after-thought when designing products and services; it is at the core of the Bank’s strategy.

Many people ask about digital transformation.

We say it ’s not about digital . It ’s about people;

it ’s about the mind-set; it ’s about culture. It ’s

about values. And when you get that right ,

the technology becomes a true enabler,

because most of what needs to be done using

technologies is not just about the knowledge

of technology but how the technology can add

value to society and how that technology can

be a real business case.


42

About the Report








We dedicate ourselves to providing the most innovative services in banking so that we may continue to be a bank

of enduring greatness and to uplift the lives of our patrons and communities. We intend to take the country to the

next level by moving forward with purpose: “tech up” the Philippines and foster inclusive financial prosperity.

Our goals are clear-cut:

Bring financial services to the rural areas.

Financial inclusiveness

means finding ways to

elevate the lives of fellow

men through banking and

financial services. Since the

country is still predominantly

unbanked, this remains as

one of the causes of poverty.

Remote locations in the

country should be targeted for

financial inclusivity, as access

to technology remains limited

within these areas.

Make financial products accessible to more people.

In an emerging country like the

Philippines, a financial product or

service becomes “inclusive” when

it can be accessed with the least

cost. We invest in the technological

infrastructure upon which our

services and products are built,

and our offerings are meant to be

readily usable by all kinds of end-

users. These products and services

are made available not only in the

metropolitan areas, but in the rural

provinces—so they don’t need to

play catch-up anymore.

Reach out to the unbanked and underbanked.

UnionBank serves as a channel

through which the unbanked/

underbanked can suggest how to

build on the current products and

services of the Company, even

as subsidiaries such as UBX and

CitySavings provide the financial

inclusion delivery of the Bank.

Purpose: TECH UP Pilipinas


43

About the Report








DISCLOSURE AMOUNT IN THOUSAND PHP % Change

Economic value generated (revenue and other income) 50,842,840 40%

Economic value distributed 36,839,330 25%

Payments to employees8,070,248 41%

Salaries and employee benefits

Payments to suppliers 7,889,254 7%

Occupancy 962,275 13%

Depreciation and amortization 1,378,194 24%

Miscellaneous (others) 5,548,785 2%

Payments to capital providers 16,019,470 38%

Deposit liabilities 10,160,322 15%

Bills payable and other liabilities 5,859,148 110%

Payments to government 4,830,068 6%

Taxes and licenses 3,052,481 19%

PDIC + Supervision fees 1,283,093 32%

Tax expense 494,494 -52%

Payments to communities30,290 -1%

Donations

Economic value retained 14,003,510 104%

We believe that wealth generation should not be the only focus; wealth distribution should also be a priority,

in our bid for inclusive prosperity.

UnionBank is a Bank of enduring greatness because it extends the value of all kinds of capital:

financial, human, and knowledge or intelligence capital, to name a few. Tech Up Pilipinas has

extended the bid for financial literacy to farmers (Tech Up Agri), Grab drivers (Grab-EON), and

teachers (Project Peraperasyon).

Direct Economic Value Generated and Distributed

CitySavings, for its part, continues to fortify its commitment in advancing business and

communities to help create opportunities for financial inclusion and elevate the lives of its key

stakeholders.

(201-1)


44

About the Report








UnionBank utilizes out-of-the-box thinking to design the products and services that are relevant to

customers today. Ever mindful that sustainability goes beyond the financial need to the ecological and

systemic demand, UnionBank makes a point of designing products and services that go beyond business

concerns to the underlying problem—be it financial illiteracy, inequity, or simply, lack of accessibility.

Banking Innovations with Social Benefits

UBX

The first to embrace technological innovations to empower customers, UnionBank is leading a financial

technology (FinTech) revolution by introducing innovations via wholly owned fintech platform UBX

Philippines Corp. Among the company’s financial inclusion instruments is the “mobile ATM,” which

allows rural banks and financial cooperatives across the country to easily access funds. UBX envisions

the removal of barriers to financial services by seamlessly blending them with everyday activities and

experiences—in this case, embedded in the mobile platform accessible to everyone with a phone.

UBX already taps into the i2i network that includes LBC Express Inc., PeraHub operator Inc., and Cebuana

Lhuillier Services Corp., but the company will be extending its reach further by linking to other financial

institutions and outlets.

i2i

UnionBank believes that “no one should be left behind” but despite the fast-moving developments

in banking technology, around 35% of Filipinos remain unbanked, while 56% still do not have

access to any form of financial services. Determined to address the problem, UnionBank launched

Project i2i, an initiative serving the thousands of Filipinos who remain isolated from mainstream

payment networks and infrastructures. With “i2i” standing for Island-to-Island, Institution-to-

Institution, or Individual-to-Individual, the project hopes to address the gaps in financial

accessibility by connecting rural banks and national commercial banks to the country’s main

banking system. By doing so, citizens are able to gain better access to banking services,

and remote banks are able to integrate themselves into the domestic financial system. This

feat was made possible through the partnership with ConsenSys Solution and the use of

blockchain technology. To date, 700 rural banks are members of i2i, linking the formerly

disconnected to the country’s financial network.

Building on the success of Project i2i, UnionBank partnered with the OCBC Bank,

Singapore’s longest established bank to create a system that would enhance the overall

capabilities in making international bank transfers. Using the Adhara liquidity management

and international payments platform, UnionBank has become the first bank in the

Philippines to successfully pilot blockchain-based remittance from Singapore to the

Philippines. The successful pilot launch of this project has shown that faster, cheaper, and

more accessible means to make international payment is possible, and that UnionBank

can be the one to provide this service to the people. More importantly, it has shown how,

through smart application of technologies, the goal of elevating lives and connecting

communities has become achievable.

The Project Adhara Connection


45

About the Report








UnionBank GlobalLinker

With the goal of boosting the capabilities and reach of local entrepreneurs, UnionBank has

partnered with GlobalLinker, a digital platform that serves as a one-stop hub where entrepreneurs

can run their businesses, promote their brand, products and services, and access essential

solutions—including financial assistance. GlobalLinker allows MSMEs to build and create online

stores free of charge. With access to more than 10,000 content resources, a network of 40,000 SMEs

in the Philippines,270,000 SMEs, and 210 curated industries, it gives its members the opportunity

to build networks, deepen their supply chain, and gain access to overseas markets. Through this

resource, the project hopes to become a catalyst for creating a positive economic impact on the

country.

In essence, besides making it easier or business owners to open and maintain their own bank

account, GlobalLinker also allows entrepreneurs to open a checking account for a minimum fee

of PhP 5,000. Having a checking account is a boost for the MSMEs, as it helps them gain more

credibility with investors, customers, and other businesses, and keep their accounting records

accurate and organized. On top of this service, GlobalLinker also has bundled-in benefits such as

specialized cost-cutting deals and exclusive offers from the hub’s partners

API Platform + UnionBank Developer Portal

UnionBank operates the largest application program interface (API) platform among local banks,

intended to make online transactions (i.e., bill payments, checkouts, cash payouts, fund transfers,

authentication, etc.) easier for corporate clients, SMEs, and retail clients. In 2019 alone, the platform

generated billions of pesos in transactions. The API platform is now open to external parties through the

UnionBank Developer Portal, an enhancement providing an extensive catalogue of APIs to choose from.

Innovators can create highly customized APIs which can then be snapped up by the wide customer base

converging on the platform. UnionBank will continue to champion open banking by developing this

medium further to accommodate more collaboration among Fintechs and other solution providers.

UnionBank places the customer at the heart of the Bank’s business model. Our process has been to

map out the customer journey, identify key areas where clients experience challenges, and then come

up with innovative solutions. We bring the user experience into the equation as a means of co-creating

solutions.

Our customers have been appreciative of our efforts. On our latest customer satisfaction survey—with

37,482 respondents rating 210 branches, an unprecedented turnout—UnionBank’s overall rating is

4.61, with 5 being the highest possible rating.

Customer Experience

Luzon (137 branches) Visayas (26 branches) Mindanao (11 branches)

4.65 4.24 4.93

UNIONBANK OVERALL SCORE (210 BRANCHES) 4 . 6 1


46

About the Report








Meet Eve: The ARK’s new robot ambassador

Customer service reached a milestone at UnionBank in 2019 with the country’s first “robo ambassador,”

dubbed Eve. The state-of-the-art robot functions as a customer service agent, with one Eve deployed

at each of the four fully digital The ARK branches in Makati City. Currently, the friendly robot serves to

roll out the welcome wagon to visiting customers. Eventually, however, Eve will be programmed to be a

fully functional ARK ambassador. Functions would include instructing clients on how to use the self-

service machines, and how to register to UnionBank Online. As a bonus, Eve can also be programmed

to be both host and entertainer—the robot can pour your coffee and sing (or dance!) while doing it.

Recognized as the Philippines’ Best Digital Bank, UnionBank has been improving on The ARK model,

and in 2019 also launched “The ARK for Business.” The new ARK variant is designed for the convenience

of business clients who may process large transactions on their own terms. These business clients may

“pre-stage” their transactions through The Portal – UnionBank’s newest business banking platform,

which has a website and mobile version. Services include account viewing, fund transfers through

multiple channels, and payments to government and utilities. Customers are also able to access

UnionBank’s blockchain-powered financial supply chain system within the platform. The ARK for

Business also offers a co-working space for clients who may need a temporary office.

UnionBank aims to provide clients with a safe space where they can transact and interact with ease.

We develop and maintain robust and reliable systems to guard against cyber threats and security

breaches.

Data privacy and information security protocols are already in place to protect our customers’ private

information. The Bank is certified for the Payment Card Industry Data Security Standard (PCI DSS)

version 3.2 (Year 2 PCI-DSS 3.22 Certification), which ensures that even more robust protection of

financial information is established against identity theft, fraudulent transactions, and other

security threats.

UnionBank currently utilizes a security information and event management (SIEM) technology

system making the cyber environment and digital assets visible through centralizing relevant

data collection and analysis from multiple sources. The Bank also implements an enterprise fraud

management system combining data analytics and real-time alerts, further strengthening detection

and monitoring of customer transactions.

We have operated our Integrated Operations Center (IOC), which acts as the frontline defense against

cyber threat, since 2017.The facility, which houses the Bank’s security operations and business

intelligence hub, integrates all Information Technology-related operations, cybersecurity, and anti-

fraud monitoring and risk management. The IOC was awarded the “Best Cybersecurity and IT Risk

Management Initiative, Application, or Programme in the Philippines for 2018” by The Asian Banker.

We continue to invest in training and empowering UnionBankers to earn the necessary certifications

to be effective cybersecurity champions and information security officers, among them Certified

Information Systems Auditors and Certified Ethical Hackers.

Information Security and Cyber Security


47

About the Report








UnionBank respects and values the customers’ right to privacy. We are compliant with all the

requirements mandated by law, as well as with the generally accepted global data protection

standards and regulations. All systems and storage medium or repositories where our customers’

personal data are stored have undergone the appropriate assessments required by law such as Privacy

Impact Assessment, and Information Security, Risk, and Legal Assessments.

UnionBank has adopted safeguards to secure our customers’ transactions on our online and mobile

platforms. The Bank ensures continued protection of personal information with our organizational,

physical, and technical measures for data protection, including policies for evaluation, monitoring, and

review of operations and security risks.

In 2019, there were no substantiated complaints on customer privacy and loss of customer data.

There were also no customers, users, and account-holders whose information was used for secondary

purposes. There were also no data breaches, including leaks thefts, and losses of data during the

reporting period.

Customer Privacy

UnionBank, in cooperation with the National Association of Data Protection Officers of

the Philippines (NADPOP), held a data security executive forum and exhibit in October

2019 to promote a culture of security and privacy consciousness. Dubbed Selyado 2.0,

the event drew officials from the Bangko Sentral ng Pilipinas, the National Privacy

Commission and international thought leaders to discuss frameworks and initiatives in

protecting financial and personal data. The Bank’s top enterprise customers from various

industries and internal stakeholders attended the whole-day affair.

Selyado 2.0

(103-1, 103-2, 103-3, 418-1)


48

About the Report








UnionBank is committed to leading with transparency and fairness through strong corporate governance.

The Bank is headed by inspiring leaders and change-makers who are dedicated to creating an organiza-

tion that is able to push for digital transformation in the Philippines, and contribute to the overall social

and economic growth of the country.

Corporate Governance

Governance Structure

The membership of the Board is made up of a combination of varying core competencies. As a whole, the Board

demonstrates integrity and adherence with the principles of good governance and accountability to ensure a high standard

of governance and oversight. Individually, members have a spread of skills and experiences that work correspondingly with

each other. With the Bank’s on-going digital transformation, the Board ensures the security and privacy of the stakeholders’

information through laws and adhering to good governance principles.

More information about our corporate governance practices are available on our website and our Annual Report.

Good Governance Principles & Guides

The Bank has established strict laws and policies within the organization to ensure ethical business

operations. All employees, management, suppliers, and representatives of the Bank are guided by our

principles and norms of behavior. The Bank also undergoes regular self-assessment based on the ASEAN

Corporate Governance Scorecard and submits an Integrated Annual Corporate Governance Report

(I-ACGR).

UnionBank also aligns itself with the local and international standards for best practices. These include

the guidelines provided by the Code of Corporate Governance issued by the Securities and Exchange

Commission, the Bangko Sentral ng Pilipinas Circular No. 969 or the Enhanced Corporate Governance

Guidelines for BSP-Supervised Financial Institutions, and the internationally recognized Organization for

Economic Cooperation and Development (OECD) principles.

UnionBank Manuals Government Codes Governance Evaluation Mechanisms

Revised Manual on Good Corporate Governance

Philippine Financial Reporting Standards 9 (FPRS 9) by the Banko Sentral ng Pilipinas

Internal Audit – investigates in aid of administrative or criminal proceedings

External Audit – checks on whether financial statements are fairly presented in accordance with financial reporting standards

Code of Conduct Sustainability Reporting Guidelines for Publicly Listed Companies by the Securities and Exchange Commission

Privacy Impact Assessment - manages confidentiality of client information

Ethical Standards and Governance Policies

Information Security, Risk, and Legal Assessments – safeguards and secures customer transactions

(102-16)

(102-18)

https://unionbankph.com/


49

About the Report








POLICIES

Anti-fraud and anti-theft

The Bank has invested on sophisticated controls to battle fraud and theft

for its customers. Debit and Credit cards are protected from skimming

attacks thanks to the EMV chip technology. Aside from the cards, all

UnionBank ATM machines are EMV- enabled and are equipped with anti-

skimming devices as well, making it difficult for culprits to compromise

UnionBank machines and cards. Fraud activities on e-commerce are also

now protected as the Bank has completed its migration to 3D Secure

protocol, in which a one time password SMS will be sent to the customer

before an online transaction is completed. The mobile banking platform

of the Bank offers another layer of protection from theft as it has facial

recognition and fingerprint validation. Plus, customers of the Eon brand

can lock and unlock their cards through the Eon app. The Bank also

has a designated division to monitor and detect possible fraudulent

activities on a 24/7 basis, thus providing both security and customer

confidence with our products

Anti-money Laundering

The Bank has been strictly practicing its anti-money laundering culture,

with practices anchored on (1) compliance with the laws and regulations;

(2) strict adherence to the know-your-customer (KYC process); (3)

cooperation with law enforcement; (4) information dissemination

and continuing education; and (5) implementation of its AML risk

management system. Members of the Board and the Bank’s Senior

Management adhere to the provisions of the AntiMoney Laundering Act

(AMLA) as amended, its Revised Implementing Rules and Regulations,

and its own Money Laundering and Terrorist Financing Prevention

Program (MLPP).

In the Bank’s cascading of the rules and regulations, employees—

including new hires—undergo the AMLA Training Program which consists

of: (1) an introductory course for new employees; (2) certification

program for critical branch personnel; (3) annual refresher course to

all branch employees; and (4) annual online learning course for all

bank employees. The Bank takes its position in anti-money laundering

seriously by establishing the Anti-Money Laundering Act Committee

(AMLACOM) to provide management oversight on the implementation

of existing AML risk management policies and procedures of the Bank.

AMLACOM directly reports to the Corporate Governance Committee

(CGC), which assists the board in fulfilling its responsibilities on money

laundering and terrorist financing prevention.

Anti-Corruption

UnionBank has zero tolerance for bribery and corruption, and strives

to apply the highest standards of corporate ethics and professionalism

in the conduct of business. This zero tolerance approach also means

the Bank is committed to the mitigation, deterrence and detection of

bribery, corruption and other unethical practices, by upholding the

relevant laws on anti-bribery and corruption.

The Board of Directors is ultimately responsible for the Bank’s Anti-

Bribery and Corruption Compliance Program, which covers prohibition

of receipt of gifts, entertainment and benefits, vendor management,

whistleblowing, and other related activities.

All UnionBankers, as well as business partners (including contractors

and suppliers), are obliged to undergo orientation and, if possible,

training on anti-corruption policies and procedures.

(102-18)


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Training on Anti-corruption Policies and Procedures

100%Percentage of employees to whom the organization’s anti-corruption policies and procedures have been communicated

100%Percentage of business partners to whom the organization’s anti-corruption policies and procedures have been communicated

100%Percentage of directors and management that have received anti-corruption training

69% Percentage of employees that have received anti-corruption training

There were zero incidents in which directors and employees were dismissed or disciplined for corruption. There were also zero incidents when contracts with business partners were terminated due to incidents of corruption.

Whistleblowing Policy The Bank has invested on sophisticated controls to battle fraud and theft UnionBank upholds ethical, moral,

and legal business conduct with all stakeholders. The Bank does not tolerate violations to its policies and

standards and so enforces the Whistleblowing Policy so that individuals may safely report on any malpractice.

UnionBank ensures that whistleblowers do not fear retaliation, and that such concerns are treated seriously,

appropriately, and with utmost confidentiality.

The Bank allows reports from those who have established relationships with the Bank (i.e., employees,

business, partners, investors, and customers) on the following activities:

• Unlawful activity

• Fraud

• Corruption

• Violation of policies and agreements including the Bank’s Code of Conduct

Procurement Practices

The Bank is focused on embedding CSR and Sustainability practices in the procurement process

through supply chain management, while assessing the impact of any service or product to the

people, environment, and society, whenever applicable. We patronize local as a way of contributing to

the local economy, with a significant percentage of our expenditures going to homegrown businesses.

The Bank has a centralized approach to procurement for the management of resources and related

expenses. This is spearheaded by the General Services – Procurement Services Team, led by the Bank’s

Procurement Officer. We comply with regulatory requirements and adhere to internal policies, such as

the Procurement Guidelines, Outsourced Services Manual, Guidelines on Accreditation of Supplier and

Service Providers and all related procedures.

UnionBank ensures that all suppliers meet the criteria on financial capability, quality, and has no

pending legal disputes. Further, the Bank is particular on the supplier’s or vendor’s adherence to

ethical practices on labor, product sourcing, and supply chain management.

Aligned with industry best practices, all business units must comply with procurement procedures.

These are reviewed by the Outsourced Services Management Committee. While their focus is on

outsourced services, the Committee also reviews the status of suppliers for commodities. (103-3)

PROPORTION OF SPENDING ON LOCAL SUPPLIERS UnionBank CitySavings TOTAL

Total Procurement Budget 5,708,500,000 1,118,232,829.02 6,826,732,830.00

Spent on local suppliers 2,313,458,000 1,017,667,292.27 3,331,125,292.27

Percentage spend on local suppliers

41% 91% 48.82%

(205-2)

(102-17)

(204-1)


51

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UNIONBANK CITYSAVINGS TOTAL EMPLOYEE COUNT

3,525 1,649 5,174

By Location

UNIONBANK CITYSAVINGS

Head Office 1,740 284

Branches 1,785 1,365

Regional distribution

Luzon 3,042 1,046

Visayas 317 416

Mindanao 166 187

By Gender

Male to Female Ratio 1:6 1:7

WORKFORCE 2019

AT A GLANCE (2019)HISTORICAL VIEW (2015-2019)

102-8, 405-1

Annex I - Employment

Total 3,525 % of Total 1,649 % of Total

Female 2,183 62% 698 42%

Male 1,342 38% 951 58%

By Age

< 30 years old 1,204 34% 642 39%

30-50 years old 2,025 58% 967 59%

> 50 years old 296 8% 40 2%

By Category/Rank

AVPs and up 224 6% 37 2.24 %

Managers 1,395 40% 218 13.22%

Supervisors 1.164 33% 436 26.44%

Rank and File 742 21% 958 58.10%

By Employee Contract

Permanent 3,291 93% 1,580 96%

Probationary 234 7% 69 4%

UnionBank

Gender distribution 2015 2016 2017 2018 2019

Male 1,045 1,166 1,313 1,350 1,342

Head Office 574 627 727 762 790

Branches 471 539 586 588 552

Female 1,708 1,876 2,174 2,250 2,183

Head Office 747 844 967 962 950

Branches 961 1,032 1,207 1,288 1,233

Total 2,753 3,042 3,487 3,600 3,525

CitySavings

Gender distribution 2015 2016 2017 2018 2019

Male 546 590 747 651 951

Head Office 116 118 126 105 137

Branches 430 472 495 546 814

Female 451 474 493 518 698

Head Office 99 108 122 99 147

Branches 352 366 371 419 551

Total 997 1,064 1,114 1,169 1,649


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Annex I - EmploymentUnionBank

Age distribution 2015 2016 2017 2018 2019

Below 30 years old 847 1,017 1,316 1,290 1,204

Head Office 477 578 709 629 585

Branches 370 439 607 661 619

30-50 years old 1,657 1,796 1,931 2,032 2,025

Head Office 707 768 855 960 1,014

Branches 950 1,028 1,076 1,072 1,011

Over 50 years old 249 229 240 278 296

Head Office 137 125 130 135 141

Branches 112 104 110 143 155

Total 2,753 3,042 3,487 3,600 3,525

UnionBank

Employee Category 2015 2016 2017 2018 2019

AVPs and Up 130 156 173 219 224

Head Office 109 133 147 185 188

Branches 21 23 26 34 36

Managers 854 1,109 1,273 1,348 1,395

Head Office 391 534 620 676 713

Branches 463 575 653 672 682

Supervisors 1,003 1,036 1,227 1,236 1,164

Head Office 600 619 733 687 668

Branches 403 417 494 549 496

Rank and File 766 741 814 797 742

Head Office 221 185 194 176 171

Branches 545 556 620 621 571

Total 2,753 3,042 3,487 3,600 3,525

CitySavings

Age distribution 2015 2016 2017 2018 2019

Below 30 years old 252 314 365 422 642

Head Office 58 70 88 98 168

Branches 194 244 277 324 474

30-50 years old 705 713 713 713 967

Head Office 138 135 139 138 175

Branches 567 578 574 575 792

Over 50 years old 40 37 36 34 40

Head Office 19 21 21 21 24

Branches 21 16 15 13 16

Total 997 1,064 1,114 1,169 1,649

CitySavings

Employee Category 2015 2016 2017 2018 2019

AVPs and Up 17 20 20 26 37

Head Office 17 20 20 23 32

Branches - - - 3 5

Managers 154 157 171 192 218

Head Office 46 52 67 74 89

Branches 108 105 104 118 129

Supervisors 244 271 279 284 436

Head Office 73 74 77 81 94

Branches 171 197 202 203 342

Rank and File 582 616 644 667 958

Head Office 79 80 84 79 141

Branches 503 536 560 588 817

Total 997 1,064 1,114 1,169 1,649


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UnionBank

Employment Contract 2015 2016 2017 2018 2019

Permanent 2,601 2,728 3,140 3,339 3,291

Head Office 1,228 1,297 1,551 1,593 1,618

Branches 1,373 1,431 1,589 1,746 1,673

Probationary 152 314 347 261 234

Head Office 93 174 143 131 122

Branches 59 140 204 130 112

Total 2,753 3,042 3,487 3,600 3,525

CitySavings

Employment Contract 2015 2016 2017 2018 2019

Permanent 924 970 1,053 1,106 1,580

Head Office 207 208 232 244 380

Branches 717 762 821 862 1,200

Probationary 73 94 61 63 69

Head Office 12 18 14 13 19

Branches 61 76 47 50 50

Total 997 1,064 1,114 1,169 1,649

UnionBank

Regional Distribution 2015 2016 2017 2018 2019

Luzon 239 459 783 502 322

Head Office 155 300 457 346 209

Branches 84 159 326 156 113

Visayas 10 30 56 25 18

Branches 10 30 56 25 18

Mindanao 5 18 20 11 5

Branches 5 18 20 11 5

Total 254 507 859 538 345

CitySavings


Luzon 185 103 82 64 72

Head Office 13 17 23 16 43

Branches 172 86 59 48 29

Visayas 44 28 41 34 16

Head Office 42 19 22 17 4

Branches 2 9 19 17 12

Mindanao 36 52 33 26 14

Head Office - - - - -

Branches 36 52 33 26 14

Total 265 183 156 124 102

EMPLOYEE NEW HIRES 401-1



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UnionBank

Gender Distribution 2015 2016 2017 2018 2019

Male 82 213 312 229 152

Head Office 50 128 182 161 101

Branches 32 85 130 68 51

Female 172 294 547 309 193

Head Office 105 172 275 185 108

Branches 67 122 272 124 85

TOTAL 254 507 859 538 345

CitySavings


Male 125 109 108 69 62

Head Office 25 15 24 21 22

Branches 100 94 84 48 40

Female 140 74 48 55 40

Head Office 31 21 22 12 26

Branches 109 53 26 43 14

TOTAL 265 183 156 124 102

UnionBank

Age Distribution 2015 2016 2017 2018 2019

Below 30 years old 205 379 639 371 233

Head Office 123 214 318 216 122

Branches 82 165 321 155 111

30-50 years old 48 126 217 165 110

Head Office 31 84 137 128 86

Branches 17 42 80 37 24

Over 50 years old 1 2 3 2 2


Branches - - 1 - 1

TOTAL 254 507 859 538 345

CitySavings


Below 30 years old 178 145 112 94 71

Head Office 39 27 34 25 28

Branches 139 118 78 69 43

30-50 years old 85 36 42 29 25


Branches 71 28 32 21 13


Head Office 2 2 2 6

Branches - - - 1 -

TOTAL 265 183 156 124 102


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UnionBank


Luzon 199 243 374 370 417

Head Office 131 145 206 225 251

Branches 68 98 168 145 166

Visayas 16 14 24 24 32

Branches 16 14 24 24 32

Mindanao 19 8 16 12 14

Branches 19 8 16 12 14

Total 234 265 414 406 463

CitySavings


Luzon 32 77 56 40 52


Branches 21 62 48 27 37

Visayas 23 25 40 17 42

Head Office 14 10 19 11 30

Branches 9 15 21 6 12

Mindanao 4 14 10 11 19

Head Office - - - - -

Branches 4 14 10 11 19

Total 59 116 106 68 113

EMPLOYEE TURNOVER 401-1

UnionBank


Male 86 117 171 187 175

Head Office 52 64 80 105 105

Branches 34 53 91 82 70

Female 148 148 243 219 288

Head Office 79 81 126 120 146

Branches 69 67 117 99 142

TOTAL 234 265 414 406 463

CitySavings


Male 31 66 78 41 65

Head Office 11 11 17 16 25

Branches 20 55 61 25 40

Female 28 50 28 27 48


Branches 16 36 18 18 28

TOTAL 59 116 106 68 113


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UnionBank


Below 30 years old 106 119 190 198 233

Head Office 67 73 97 108 123

Branches 39 46 93 90 110

30-50 years old 111 118 197 172 194

Head Office 55 57 94 94 109

Branches 56 61 103 78 85

Over 50 years old 17 28 27 36 36


Branches 8 13 12 13 17

TOTAL 234 265 414 406 463

CitySavings


Below 30 years old 27 77 46 34 57

Head Office 11 18 16 15 26

Branches 16 59 30 19 31

30-50 years old 29 34 59 31 52


Branches 20 29 49 24 36



Branches 1 3 - - 1

TOTAL 59 116 106 68 113

UnionBank

INJURY PYRAMID 2019

Fatality 0

Lost Time Incidents (LTI) 0

Restricted Work Case (RWC) 0

Medical Treatment Case (MTC) 0

First Aid Case 0

CitySavingsINJURY PYRAMID No. of reported cases

Minor wounds/injuries 6

Hypersensitivity reaction 13

Musculoskeletal strain 0

Tension headaches 8

Others 2

Total lost days: 48

OTHER STATISTICS 2019

Total number of employees 3,525

Number of employees who are members of the Health & Safety Committee 8*

Percentage of Employees under Health & Safety Committee 0.227%

Total work hours 7,394,688

Total lost days 0

OCCUPATIONAL HEALTH AND SAFETY

*-Number represents central committee only. The Bank is in the process of training one employee per Branch, to be part of the Health & Safety Committee.

Notes: The above rates were computed by taking the applicable data (i.e. number of reported cases of injuries, lost days, and occupational diseases) and multiplying it to the International Labor Organization’s base figure (200,000) relative to the total hours worked. In order to arrive at an estimated figure for total man-hours, we referred to the National Wages and Productivity Commission of the Department of Labor and Employment’s publication titled “Formulae on the Computation of the Equivalent Monthly Minimum Wage Rates.”

TYPES OF INJURY AND RATES OF INJURY, OCCUPATIONAL DISEASES, LOST DAYS, AND ABSENTEEISM, AND NUMBER OF WORK-RELATED FATALITIES

403-1

403-2


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TRAINING AND EDUCATION 404-1

UnionBank Average 16.21

By Gender

Male 14.25

Female 17.40

CitySavings Average 25.47

By Gender

Male 22.93

Female 28.00

By Employment Category

Senior Management 13.34

Middle Management 16.48

Supervisor 19.09

Rank-and-File 11.90

By Employment Category

Senior Management 11.16 AVP and up*

Middle Management 26.92 OA-SM*

Supervisor n/a

Rank-and-File 25.04 RF (Union & Confi)*

Annex II - Materials and Resources ManagementTHE LEED ADVANTAGE

BUILDING TYPE POWER CONSUMPTION (kWh) WATER CONSUMPTION

Non-LEED 28,086 233

LEED 10,565 121

Variance 17,521 112

Total 56,172 466

302-1, 303-5

*Classifcation by CitySavings


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GRI Content Index (102-55)

UNIVERSAL STANDARDS

GRI 101: FOUNDATION 2016

GRI 102: GENERAL DISCLOSURES 2016

GRI STANDARD DISCLOSURE NUMBER DISCLOSURE TITLE PAGE NUMBER DIRECT ANSWER/ STATEMENT OF OMISSION

ORGANIZATIONAL PROFILE

102-1 Name of the organization 2

102-2 Activities, brands, products, and services 8

102-3 Location of headquarters 2

102-4 Location of operations 5

102-5 Ownership and legal form 4

102-6 Markets served 4

102-7 Scale of the organization 5

102-8 Information on employees and other workers 5,12, 24, 51

102-9 Supply chain

UnionBank supports local enterprises and local populations to honor the mutually beneficial relationship we have with our host community. Our branch network is designed to encourage banking locally. We also do our part by investing in the local market, through our suppliers, and through our championship of small and medium enterprises (SMEs).

102-10 Significant changes to the organization There were no significant changes to the organization for the reporting period.

102-11 Precautionary principle or approach 8

102-12 External initiatives 6, 19

102-13 Membership of associations 6

102-14 Statement from senior decision-maker 14

102-16 Values, principles, standards, and norms of behavior 7

GOVERNANCE

102-18 Governance structure 48

102-30 Effectiveness of risk management processesThe Board will tackle the new mandate of Bangko Sentral ng Pilipinas, whereby it seeks to integrate the Sustainable Finance Policy from Board agenda to the bank’s performance appraisal. UnionBank will provide more details in the next report.

102-32 Highest governance body’s role in sustainability reporting 18

STAKEHOLDER ENGAGEMENT

102-40 List of stakeholder groups 9-10

102-41 Collective bargaining agreements 24UnionBank Employees’ Association (UBEA) is the recognized association of the employees comprising 670 members. The Bank has collective bargaining agreement with UBEA and is subject for renewal every 5 years (economic and political) and every 3 years (economic).

102-42 Identifying and selecting stakeholders 9

102-43 Approach to stakeholder engagement 9-10

102-44 Key topics and concerns raised 9-10


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REPORTING PRACTICEEREP

102-45 Entities included in the consolidated financial statements 2

102-46 Defining report content and topic Boundaries 9Report content is limited to data from UnionBank and subsidiary CitySavings. Each material topic’s boundary falls within the organization, except for the following topics whose boundary extends outside the organization: 203 (Indirect Economic Impacts) and 413 (Local Communities).

102-47 List of material topics 11-13

102-48 Restatements of information

Statistical employee and other corporate data previously reported in the 2018 ASR have been recomputed to include CitySavings data (both Head office and branch network figures), for a more complete picture of our impacts. Sustainability Scorecard figures pertaining to 2018 outcomes follow this same principle.

102-49 Changes in reporting

This 2019, we included the SEC Sustainability Reporting Guidelines for Publicly Listed Companies in our reporting framework, alongside the GRI Standards. As has been our practice every year since we started reporting, UnionBank conducted a materiality assessment and reported on the material topics that were considered most significant. There is a slight variance in material topics as we only reported on the highest ranked for the period.

102-50 Reporting period 2

102-51 Date of most recent report 2

102-52 Reporting cycle 2

102-53 Contact point for questions regarding the report 2

102-54 Claims of reporting in accordance with the GRI Standards 2

102-55 GRI content index 58-60

102-56 External assurance This report did not undergo external assurance.

GRI 200 ECONOMIC STANDARD SERIES 2016

GRI 103: MANAGEMENT APPROACH 2016

103-1 Explanation of the material topic and its Boundary 12-13

103-2 The management approach and its components 13

103-3 Evaluation of the management approach 13

GRI 201: ECONOMIC PERFORMANCE 2016 201-1 Direct economic value generated and distributed 43

GRI 203: INDIRECT ECONOMIC IMPACTS 2016

203-1 Infrastructure investments and services supported 31, 33

203-2 Significant indirect economic impacts 31, 33, 34, 35

GRI 204: PROCUREMENT PRACTICES 2016 204-1 Proportion of spending on local suppliers 50

GRI 205:ANTI-CORRUPTION 2016 205-2 Communication and training about anti-corruption policies and procedures 50


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GRI 300: ENVIRONMENTAL STANDARDS SERIES 2016


103-1 Explanation of the material topic and its Boundary 13

103-2 The management approach and its components 13


GRI 301: MATERIALS 2016 301-1 Materials used by weight or volume 40

GRI 302: ENERGY 2016 302-1 Energy consumption within the organization 39, 57

GRI 305: EMISSIONS 2016

305-1 Direct (Scope 1) GHG emissions 40

305-2 Energy indirect (Scope 2) GHG emissions 40

305-4 GHG emissions intensity 40

GRI 307: ENVIRONMENTAL COMPLIANCE 2016 307-1 Non-compliance with environment laws and regulations There were no incidents of non-compliance with environmental laws and regulations.

GRI 400: SOCIAL STANDARDS SERIES 2018


103-1 Explanation of the material topic and its Boundary 12, 22

103-2 The management approach and its components 12, 22


GRI 401: EMPLOYMENT 2016401-1 New employee hires and employee turnover 24, 53-56

401-2 Benefits provided to full-time employees that are not provided to temporary or part-time employees 27

GRI 403: OCCUPATIONAL HEALTH AND SAFETY 2016 403-2 Types of injury and rates of injury, occupational diseases, lost days, an

absenteeism, and number of work-related fatalities 28, 56

GRI 404: TRAINING AND EDUCATION 2016 404-1 Average training hours 29, 57

GRI 405: DIVERSITY AND EQUAL OPPORTUNITY 2016 405-1 Diversity of governance bodies and employees 24, 51

GRI 413: LOCAL COMMUNITIES 2016 413-1 Operations with local community engagement, impact assessments and development programs 26, 31, 33, 34, 35

GRI 416:CUSTOMER HEALTH AND SAFETY 2016 416-2 Incidents of non-compliance concerning the health and safety impacts of

products and servicesThere were no incidents on non-compliance concerning the health and safety impacts of products and services.

GRI: 417: MARKETING AND LABELING 2016 417-3 Incidents of non-compliance concerning marketing communications There were no incidents on non-compliance concerning marketing communications.

GRI 418: CUSTOMER PRIVACY 2016 418-1 Substantiated complaints concerning breaches of customer privacy and loss of customer data 47

GRI 419: SOCIOECONOMIC COMPLIANCE 2016 419-1 Non-compliance with laws and regulations in the social and economic

arenaThere were no incidents of non-compliance with laws and regulations in the social and economic arena.

GRI 300: ENVIRONMENTAL STANDARDS SERIES 2018

GRI 303: WATER 2016 303-5 Water consumption 40, 57

This report has been prepared by Drink Sustainabil ity Communications

2 0 1 9 S U S T A I N A B I L I T Y R E P O R T

2019 SUSTAINABILITY REPORT

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