Ocbc Bank

OCBC Bank, headquartered in Singapore and operating in Financial intermediation services, except insurance and pension funding services, reported total emissions of 36,209,000 kg CO2e for 2025. This included 2,001,000 kg CO2e from Scope 1, 30,551,000 kg CO2e from Scope 2 (market-based), and 3,657,000 kg CO2e from Scope 3 emissions.

For 2024, the bank's total emissions were 38,980,000 kg CO2e, with Scope 1 emissions at 132,000 kg CO2e, Scope 2 (market-based) at 35,373,000 kg CO2e, and Scope 3 at 3,475,000 kg CO2e. In 2023, total emissions were approximately 27,492,000 kg CO2e, comprising 142,000 kg CO2e from Scope 1, 23,501,000 kg CO2e from Scope 2 (market-based), and 3,849,000 kg CO2e from Scope 3.

OCBC Bank has several climate commitments and reduction targets:

• The bank aims to achieve net zero by 2040 for Scope 1 and Scope 2 emissions, with an interim target to reduce them by 55% by 2030.
• For Scope 3 emissions, the target is to achieve net zero by 2050, with a 66% reduction by 2030.
• OCBC Bank is committed to maintaining carbon neutrality for its banking operational emissions in 2024.
• In the Oil & Gas sector, the bank has set a near-term absolute target to reduce emissions by 35% by 2030 from a 2021 baseline for both Scope 1 and Scope 2. Financed emissions for Oil & Gas decreased by 19% from the 2021 baseline to 12.1 MtCO2e in 2022, indicating progress towards the 2030 target.
• Regarding financed emissions intensity, the Power sector saw a 9% reduction from a 2021 baseline of 370 kgCO2/MWh to 337 kgCO2/MWh in 2022.
• The Steel sector's financed emissions intensity decreased by 8% from a 2021 baseline of 1.93 tCO2/tSteel to 1.76 tCO2/tSteel in 2022.

The bank is also involved in financing projects like the Dogger Bank Wind Farm, which is projected to provide renewable energy for 6 million UK homes upon completion in 2026, contributing to net-zero goals. OCBC Bank's emissions data and reduction initiatives are disclosed through its sustainability reports. All emissions data is disclosed by Oversea-Chinese Banking Corporation Limited.