Primary bank in Asia, United Overseas Lender (UOB), has these days announced it has been authorized to be part of the Equator Principles Affiliation, and has adopted the Equator Concepts (EPs).
A chance administration framework employed by money institutions to support accountable threat decision-producing in initiatives, the EPs will be carried out across all UOB’s environmental and social guidelines, treatments, and benchmarks for financing projects.
Mr Eric Lim, Chief Sustainability Officer, UOB, claimed, “UOB’s adoption of the EPs underscores our ongoing integration of sustainability into our business method and lending techniques, as we fulfil our role as a catalyst and enabler in helping our purchasers across the region to grow responsibly.”
UOB is also proactively working with its consumers across Southeast Asia to generate sustainable improvement, by giving funding options in spots such as sustainable infrastructure and land use, renewable and transitional energy, electrical power efficiency and connectivity, as well as the round overall economy. As of the finish of June 2021, the had financial institution supplied S$13 billion in sustainable funding.
The adoption of the EPs will further more improve UOB’s environmental, social and governance (ESG) danger management observe across all the countries in which operates.
With 121 Equator Rules Economic Establishments (EPFIs) in 37 nations having now officially adopted the EPs, the majority of global job finance debt in just designed and rising markets is protected.