Ocbc Bank

OCBC Bank's latest disclosed emissions data shows approximately 36,209,000 kg CO2e for 2025. This includes Scope 1 emissions of about 2,001,000 kg CO2e, Scope 2 market-based emissions of roughly 30,551,000 kg CO2e, and Scope 3 emissions totalling around 3,657,000 kg CO2e. For 2024, the bank reported total emissions of approximately 38,980,000 kg CO2e, comprising about 132,000 kg CO2e in Scope 1, roughly 35,373,000 kg CO2e in Scope 2 market-based, and approximately 3,475,000 kg CO2e in Scope 3.

OCBC Bank has set several climate commitments. For its banking operational emissions, the bank aims to maintain carbon neutrality in 2024. The bank has a long-term target to reduce Scope 1 and Scope 2 emissions by 55% by 2030 and achieve net-zero by 2040. For Scope 3 emissions, the goal is to reduce them by 66% by 2030 and reach net-zero by 2050. Specifically for the Oil & Gas sector, OCBC Bank is targeting a 35% absolute emissions reduction by 2030 from a 2021 baseline. The bank reported a 19% reduction in financed emissions for Oil & Gas in 2022 from its baseline. In the Power sector, financed emissions intensity saw a 9% reduction in 2022 from a baseline of 370 kgCO2/MWh. For the Steel sector, financed emissions intensity decreased by 8% in 2022 from a baseline of 1.93 tCO2/tSteel. The bank also supports renewable energy projects, such as the Dogger Bank Wind Farm, which is projected to contribute to a green economic recovery and net-zero goals upon completion in 2026.