Managing Our Environmental Footprint
Maintaining Carbon Neutrality in Our Operations
Starting from 2022, we have been maintaining our target of carbon neutrality for OCBC’s banking operational emissions through a hierarchy of priorities:
Priority 1: Reducing Energy Consumption from our Operations
Since 2020, we have achieved notable improvements in our operational energy consumption and established a strong foundation for long-term sustainability. Building on comprehensive portfolio-wide energy audits and the implementation of data-driven optimisations across our buildings, we are accelerating our progress to achieving best-in-class energy efficiency.
We continue to explore innovative technologies that push the boundaries of energy reduction and enable us to advance towards our net-zero goals. Our strategy includes the phased replacement of legacy equipment with advanced, energy-efficient alternatives, complemented by smart automation. For 2025 and beyond, we are pioneering the adoption of district cooling systems and deployment of Radiative Cooling solutions to reduce energy demand while still ensuring comfort for building occupants.
Since 2020, we have achieved notable improvements in our operational energy consumption and established a strong foundation for long-term sustainability. Building on comprehensive portfolio-wide energy audits and the implementation of data-driven optimisations across our buildings, we are accelerating our progress to achieving best-in-class energy efficiency.
We continue to explore innovative technologies that push the boundaries of energy reduction and enable us to advance towards our net-zero goals. Our strategy includes the phased replacement of legacy equipment with advanced, energy-efficient alternatives, complemented by smart automation. For 2025 and beyond, we are pioneering the adoption of district cooling systems and deployment of Radiative Cooling solutions to reduce energy demand while still ensuring comfort for building occupants.
Priority 2: Increasing Renewable Energy Adoption
We have increased renewable energy usage for our buildings and branches across the region, by installing solar panels in suitable locations.
To address our remaining Scope 2 emissions, we purchase Energy Attribute Certificates (EACs) produced in our key operating regions, including Malaysia, Indonesia and Greater China. This not only supports our regional operations but also helps accelerate the transition of local electricity grids towards cleaner energy sources.
In Singapore, we have further enhanced our approach by adopting Singapore Standard 673 (SS673) guidelines for our procurement of EACs. This ensures that our adoption of renewable energies meets the highest standards of quality and integrity, reinforcing our commitment to credible and transparent renewable energy sourcing.
We have increased renewable energy usage for our buildings and branches across the region, by installing solar panels in suitable locations.
To address our remaining Scope 2 emissions, we purchase Energy Attribute Certificates (EACs) produced in our key operating regions, including Malaysia, Indonesia and Greater China. This not only supports our regional operations but also helps accelerate the transition of local electricity grids towards cleaner energy sources.
In Singapore, we have further enhanced our approach by adopting Singapore Standard 673 (SS673) guidelines for our procurement of EACs. This ensures that our adoption of renewable energies meets the highest standards of quality and integrity, reinforcing our commitment to credible and transparent renewable energy sourcing.
Priority 3: Responsible Purchase of Carbon Credits to Offset Residual and Unavoidable Emissions
After minimising emissions as far as feasible, we continue to source high-quality carbon credits to address hard-to-abate emissions, reinforcing our commitment to operational carbon neutrality. We support credible nature-based carbon offset projects, including carbon reduction and carbon removal initiatives, which promote reforestation and conservation while delivering positive impacts aligned with UN SDGs.
In 2025, we supported nature-based projects that helped protect and conserve forests, preserve biodiversity within protected areas and enhance educational access for local communities. All our carbon credits are verified by reputable third-party schemes, such as the Verra Carbon Standard.
In addition to supporting projects that reduce and sequester carbon dioxide and deliver positive outcomes aligned with UN SDGs, this approach allows us to mitigate our operational impact. We have not set gross targets for our operational emissions. We have instead placed our focus on our financed emissions as they make up a more significant portion of our overall emissions. In that regard, we have set net-zero targets in six priority sectors1.
1Gross emissions targets refer to targets that do not take into account planned offsets, such as the use of carbon credits.
After minimising emissions as far as feasible, we continue to source high-quality carbon credits to address hard-to-abate emissions, reinforcing our commitment to operational carbon neutrality. We support credible nature-based carbon offset projects, including carbon reduction and carbon removal initiatives, which promote reforestation and conservation while delivering positive impacts aligned with UN SDGs.
In 2025, we supported nature-based projects that helped protect and conserve forests, preserve biodiversity within protected areas and enhance educational access for local communities. All our carbon credits are verified by reputable third-party schemes, such as the Verra Carbon Standard.
In addition to supporting projects that reduce and sequester carbon dioxide and deliver positive outcomes aligned with UN SDGs, this approach allows us to mitigate our operational impact. We have not set gross targets for our operational emissions. We have instead placed our focus on our financed emissions as they make up a more significant portion of our overall emissions. In that regard, we have set net-zero targets in six priority sectors1.
1Gross emissions targets refer to targets that do not take into account planned offsets, such as the use of carbon credits.
In line with our Priority 1, we are committed to reducing the environmental footprint of our physical operations by reducing our energy demand and our consumption of water, paper and other resources. We adopted three key approaches to mitigate our environmental impact:
- Improving building energy efficiency with technology and management practices;
- Exploring innovative solutions to push boundaries; and
- Enhancing knowledge exchange in the built environment industry.
Our Policies
The following policies and guidelines shape our approach to operational decarbonisation and climate action, providing a structured framework to reduce our environmental impact and strengthen our efforts against climate change.
Flood Management Response Plan
In response to projected increases in rainfall intensity due to climate change, flood mitigation measures are in place for our key buildings.
These proactive steps enhance our preparedness for potential flood events, thereby strengthening the resilience of our facilities in the face of physical climate risks. This approach reflects our commitment to sustainable risk management and long-term operational continuity.
Energy Attribute Certificates (EACs) selection approach
Our EACs procurement strategy takes reference from the RE100 framework. Furthermore, we are committed to enhancing our strategy by adopting SS673 and prioritising EACs sourced from the Southeast Asian market to support renewable energy development within the region.
Sustainable Building and Workplace Guidelines
We have established the Guidelines to ensure that material sustainability elements are consistently integrated across our workplaces and buildings. They encompass the entire building lifecycle — from site selection and procurement to design development and the operation of building assets and workplaces across OCBC’s operations.
Carbon Procurement Approach
Our approach was established to uphold the integrity of the carbon credits we use to offset hard-to-abate emissions. We apply a stringent set of criteria aligned with global best practices, such as the Oxford Principles for Net Zero Aligned Carbon Offsetting.