At OCBC, we recognise that sustainability is integral to the successful execution of our corporate strategy. To demonstrate our commitment towards promoting the Sustainable Development Goals adopted by the United Nations 2030 Agenda for Sustainable Development, we have developed the OCBC Sustainability Bond Framework (the “Framework”) that sets out the guidelines for Green, Social or Sustainability Bond (the “Bonds”) issuances at OCBC. The Framework is consistent with the Green Bond Principles, Social Bond Principles and Sustainability Bond Guidelines issued by the International Capital Market Association (ICMA), and reflects guidance by the ASEAN Green Bond Standards.
We have obtained a second party opinion on the Framework from Sustainalytics, an independent environmental, social and governance (ESG) and corporate governance research, ratings and analysis firm.
OCBC allocates the net proceeds of our green bonds to financing or refinancing green assets or projects as described under the Eligibility Criteria in the Framework. The green bonds are issued under OCBC’s Global Medium Term Note programme.