Banking on Net Zero
Banking on Net Zero
Partnering clients towards a Net Zero ASEAN and Greater China.
OCBC is committed to driving the transition to a sustainable, low-carbon world. Aligned with the aspirations of many of our clients, we believe that supporting the climate transition is crucial in shaping the future. Furthermore, understanding and monitoring climate risks faced by our clients and helping them succeed in this transition is in line with our approach for prudent risk management. At OCBC, we see taking climate action as our responsibility and purpose.
As a regional Singapore-headquartered financial services group, OCBC is well-positioned to partner our clients to meaningfully contribute to a Net Zero ASEAN and Greater China. We recognise that we have an important role to play in addressing our Scope 3 emissions associated with our financed portfolio. In line with our commitments as a member of the Net- Zero Banking Alliance, we have now set ambitious, quantitative, and credible Net Zero targets for emissions arising from our portfolio.
We have set Net Zero targets from the following six high-emissions sectors that require urgent action to decarbonise and comprise a material part of our corporate and commercial banking portfolio: Power, Oil and Gas, Real Estate, Steel, Aviation, and Shipping. View highlights here.
Partnerships are critical to addressing climate change and are key to achieving our Net Zero targets. We believe that our actions will be most impactful when we engage and partner with clients on their own decarbonisation journeys. Together, we enable our clients to remain resilient in the low-carbon economy and capture new business opportunities in sustainability while enabling OCBC to achieve our climate ambition.
- Offer transition advisory support to clients at an early stage of their decarbonisation journey
- Enable clients to achieve their ambitious decarbonisation plans through innovative sustainable financing solutions, such as the OCBC 1.5°C loan
- Seek out and support clients offering new low-carbon solutions through financing and partnership initiatives
"We have now set ambitious, quantitative and science-based Net Zero targets and pathways for emissions that arise from our portfolio. In effect, we will partner with our corporate clients to meaningfully contribute to a Net Zero ASEAN and Greater China by 2050 through a just and orderly transition."
Group Chief Executive Officer
“The only viable path for us to reach Net Zero in our financed emissions is for our clients to reach Net Zero in their emissions. While the road ahead is fraught with uncertainties, we remain optimistic and excited about the immense possibilities. Taking climate action is a duty for all individuals and businesses.”
Tan Teck Long
Head of Global Wholesale Banking
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