Ocbc Bank
OCBC Bank, officially known as Oversea-Chinese Banking Corporation, is a leading financial institution headquartered in Singapore (SG). Established in 1932, OCBC Bank has grown to become one of the largest banks in Southeast Asia, with a strong presence in key markets including Malaysia, Indonesia, and Greater China. The bank operates primarily in the banking and financial services industry, offering a comprehensive range of products and services such as personal banking, corporate banking, wealth management, and insurance. OCBC Bank is renowned for its innovative digital banking solutions and customer-centric approach, setting it apart in a competitive landscape. With a commitment to sustainability and community engagement, OCBC Bank has received numerous accolades, solidifying its position as a trusted financial partner in the region.
DitchCarbon Score
How does Ocbc Bank's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Financial Intermediation industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Ocbc Bank's score of 77 is higher than 99% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Ocbc Bank's reported carbon emissions
In 2024, OCBC Bank reported total carbon emissions of approximately 38,980,000 kg CO2e, comprising 132,000 kg CO2e from Scope 1, 35,373,000 kg CO2e from Scope 2 (market-based), and 3,475,000 kg CO2e from Scope 3. This marked an increase from 2023, where total emissions were about 27,492,000 kg CO2e, with Scope 1 emissions at 142,000 kg CO2e, Scope 2 (market-based) at 23,501,000 kg CO2e, and Scope 3 at 3,849,000 kg CO2e. OCBC Bank has set ambitious climate commitments, aiming for a 35% reduction in absolute emissions in the Oil and Gas sector by 2030, based on a 2021 baseline. Additionally, they plan to maintain carbon neutrality for their banking operational emissions in 2024. Long-term goals include achieving net zero emissions by 2050, with interim targets of reducing Scope 1 emissions by 55% and Scope 3 emissions by 66% by 2030. The bank's efforts also include a notable reduction in financed emissions intensity, with a 19% decrease in the Oil and Gas sector from 14.9 million tonnes CO2e to 12.1 million tonnes CO2e in 2022. Furthermore, the Power sector's financed emissions intensity saw a 9% reduction, from 370 kg CO2/MWh to 337 kg CO2/MWh. OCBC Bank's sustainability strategy reflects a commitment to addressing climate change and transitioning towards a more sustainable future, aligning with global efforts to reduce carbon footprints across various sectors.
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| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|
| Scope 1 | - | - | 000,000 | 000,000 | 000,000 | 000,000 |
| Scope 2 | 71,361,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 3 | - | - | 000,000 | 0,000,000 | 0,000,000 | 0,000,000 |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
Ocbc Bank is participating in some of the initiatives that we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
