UOB draws up emissions targets to meet net-zero commitments by 2050

UOB has drawn up emissions targets in all sectors in its corporate lending portfolio in order to meet its net-zero commitments by 2050. It is the second local bank to do so, with the first being DBS. In addition to cutting financing to new upstream gas and oil projects, it has announced interim goals for 2030 and will also focus efforts on financing clients in decarbonisation efforts.