UOB adopts the Equator Principles as it continues to advance its sustainability strategy

My Bookmarksclose
You have no bookmarks currently
    20 August 2021

    UOB today announced that it has been approved to join the Equator Principles Association and has adopted the Equator Principles (EPs), a risk management framework used by financial institutions globally for determining, assessing and managing environmental and social risk in projects1. The EPs provide financial institutions with a set of internationally-recognised standards for due diligence and monitoring of projects to support responsible risk decision-making.

     

    As an Equator Principles Financial Institution (EPFI), UOB is committing to the implementation of the EPs in its environmental and social policies, procedures and standards for financing projects.

     

    Mr Eric Lim, Chief Sustainability Officer, UOB, said, “As an EPFI, we will ensure that rigorous environmental and social standards are applied in the projects we support, from the project development stage through to follow-up monitoring. UOB’s adoption of the EPs underscores our ongoing integration of sustainability into our business strategy and lending practices, as we fulfil our role as a catalyst and enabler in helping our clients across the region to grow responsibly.”  

     

    At UOB, environmental, social and governance (ESG) risk is actively monitored and managed. The adoption of the EPs will further strengthen the Bank’s processes and practices as it continually enhances its approach to ESG risk management, Responsible Financing Policy and disclosure.

     

    In supporting the national sustainability agenda of the countries in which it operates, especially across Southeast Asia, UOB is also proactively working with its clients to drive sustainable development. The Bank provides sustainable financing solutions that enable its clients to create positive environmental and social impact in areas such as sustainable infrastructure and land use, renewable and transitional energy, energy efficiency and connectivity, as well as circular economy. These solutions are anchored by the Bank’s sustainable finance frameworks, including the UOB Smart City Sustainable Finance Framework, the UOB Green Trade Finance Framework, the UOB Real Estate Sustainable Finance Framework and the UOB Green Circular Economy Framework. As at the end of June 2021, UOB provided a total of S$13 billion in sustainable financing.


    1 A project is a development in any sector at an identified location and includes an expansion or upgrade of an existing operation.

    Share:FacebookTwitterLinkedIn

    About UOB
    UOB is a leading bank in Asia. Operating through its head office in Singapore and banking subsidiaries in China, Indonesia, Malaysia, Thailand and Vietnam, UOB has a global network of around 500 offices in 19 countries and territories in Asia Pacific, Europe and North America. Since its incorporation in 1935, UOB has grown organically and through a series of strategic acquisitions. Today, UOB is rated among the world’s top banks: Aa1 by Moody’s Investors Service and AA- by both S&P Global Ratings and Fitch Ratings.

     

    For nearly nine decades, UOB has adopted a customer-centric approach to create long-term value by staying relevant through its enterprising spirit and doing right by its customers. UOB is focused on building the future of ASEAN – for the people and businesses within, and connecting with, ASEAN.

     

    The Bank connects businesses to opportunities in the region with its unparalleled regional footprint and leverages data and insights to innovate and create personalised banking experiences and solutions catering to each customer’s unique needs and evolving preferences. UOB is also committed to forging a sustainable future through working with its stakeholders to create positive environmental impact, fostering social inclusiveness and pursuing economic progress. UOB believes in being a responsible financial services provider and is steadfast in its support of art, social development of children and education, doing right by its communities and stakeholders.

     

    For media queries, please contact media@uobgroup.com 

    UOB Newsroom

    Download PDF