A regional leader in sustainable and responsible banking
As a financial institution, OCBC plays a key role by helping to finance the transition to a low-carbon economy. In recognition of the decarbonisation imperative, we unveiled a 5-year Climate Strategy in 2021 outlining how we will become a regional leader in sustainable and responsible banking for a low-carbon economy by 2026.
As part of our Sustainability Strategy, our Climate Strategy supports our actions in one of our pillars – Build a Low-Carbon Future. It comes at a time where it is crucial for institutions, businesses and people to work in partnership to transition to a low-carbon economy to preserve a liveable planet for current and future generations.
There are three priorities in our climate strategy. To deliver on our priority areas, we will implement initiatives and drive change across all our operations in partnership with our stakeholders. These include our supply chain, customers, government and communities in our core markets. For example, OCBC is an inaugural member of the Singapore Low Carbon Network (SLCN). Aligned with the Singapore Green Plan, the SLCN supports organisations and the community in their journey towards decarbonisation by building capability and sharing knowledge to achieve a low-carbon Singapore.
Priority 1
Achieve net-zero emissions in alignment with Paris Agreement goals.
Priority 2
Enable low-carbon transition through sustainable financing, sustainability-themed products and partnerships.
Priority 3
Manage risks associated with climate change effectively.
Customers
Empower our customers in the transition to a net-zero economy.
Innovation and technology
Enable innovative solutions in the region for sustainable innovations.
Operations
Reduce operational emissions and environmental impact.
Policies and systems
Deepen and embed climate-related risk management practices and capabilities.
Upskill and reskill employees in awareness and knowledge of sustainability through implementation of sustainability curricula.
Forge strong partnerships with business, community, innovation and knowledge partners to address climate change challenges collectively.