OCBC Bank has topped two sustainable finance league tables to round up a year that has seen it double-down on its commitment to sustainability.

OCBC Bank was ranked first in Bloomberg’s 2019 Mandated Lead Arranger (MLA) league table for green loans and renewable energy loans, as well as the 2019 MLA league table for green loans and sustainability-linked loans by intelligence service Debtwire. Both league tables are for Asia Pacific (ex-Japan). 

OCBC Bank acted as the green loan advisor for several landmark transactions in Singapore, including Mapletree Commercial Trust’s S$670 million green loan and Hoi Hup’s S$332.5 million green loan. It also participated in several of the largest syndicated sustainability-linked loans in Asia, including COFCO International’s US$2.3 billion loan and Louis Dreyfus Company Asia’s US$650 million loan.

Green loans, sustainability-linked loans and loans to green projects such as renewable energy projects and green buildings are collectively referred to as sustainable finance and, in October, OCBC Bank announced its target to build a sustainable finance portfolio of S$10 billion by 2022.

This followed from its pledge to stop financing new coal-fired power plants in April, making it the first bank in Southeast Asia to do so.   

In 2019 alone, OCBC Bank has made more than S$4 billion in sustainable financing commitments and participated in more than 20 green loans and sustainability-linked loan transactions. Good progress has also been made in the financing of renewable energy projects including solar, onshore wind and offshore wind projects, in Taiwan, China, the United Kingdom, Australia and Malaysia. 

OCBC Bank’s Global Centre of Excellence in Responsible and Sustainable Financing (Sustainable Finance Group) is the driving force behind its sustainability mission. The Group was set up in January 2019 and is headed by Mike Ng, Head, Structured Finance and Sustainable Finance.

Said Mr Ng, “In 2019, sustainability has gained significant traction in both the public and private sectors, and sustainable finance has become mainstream. The healthy pipeline of sustainable finance transactions and renewable energy financing opportunities shows that our customers are transitioning towards low-carbon and sustainability-focused business models. We have supported many companies in their sustainability journeys by providing them with tailored sustainable finance solutions. These customers, like us, understand that they can do well and do good at the same time. It was these partnerships that propelled us to the top of these league tables.”

League Tables

League Table (Top 10), Correct as of 18 December 2019

Source: Bloomberg

League Table (Top 10) as of 17 December 2019

Source: Debtwire