UOB Follows Internationally-recognised Climate Models

United Overseas Bank (UOB), a prominent financial institution in Asia, reaffirms its commitment to combat climate change in the vulnerable region. In October 2022, the bank declared its net-zero commitment for its corporate lending portfolio, focusing on six key sectors contributing significantly to greenhouse gas emissions.

“We are guided by the science in setting our net-zero targets, and have based our targets on regional pathways described by internationally-recognised climate models or through constructing regionally-representative, bottom-up reference pathways using these models,” the company said.

UOB Climate Change

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The bank recently released its first net-zero progress report, highlighting its positive strides in alignment with just transition principles. the bank integrates net-zero targets into its strategies, engaging clients to enhance their commitments.

Initiatives include the Transition Finance Framework, sector-specific ecosystem solutions, and support for SMEs through the UOB Sustainability Compass. The bank received recognition at the ESGBusiness Awards.

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