Ocbc Bank

OCBC Bank, headquartered in SG and operating within financial intermediation services, has reported its carbon emissions data for several years. For 2025, the bank's total emissions were approximately 36.2 billion kg CO2e. This figure comprises roughly 2 million kg CO2e for Scope 1, approximately 30.6 billion kg CO2e for Scope 2 (market-based), and around 3.7 million kg CO2e for Scope 3.

In 2024, OCBC Bank's total emissions stood at approximately 39 billion kg CO2e, with Scope 1 emissions at about 0.13 million kg CO2e, Scope 2 (market-based) at approximately 35.4 billion kg CO2e, and Scope 3 at about 3.5 million kg CO2e.

For 2023, total emissions were around 27.5 billion kg CO2e, broken down into approximately 0.14 million kg CO2e for Scope 1, roughly 23.5 billion kg CO2e for Scope 2 (market-based), and about 3.8 million kg CO2e for Scope 3.

Prior to 2023, the bank's reported emissions were higher. In 2022, total emissions were approximately 65.5 billion kg CO2e, with Scope 1 at about 0.16 million kg CO2e, Scope 2 at approximately 63.8 billion kg CO2e, and Scope 3 at around 1.5 million kg CO2e. In 2021, total emissions were approximately 68.2 billion kg CO2e, including about 0.24 million kg CO2e for Scope 1, roughly 67.6 billion kg CO2e for Scope 2, and 278,000 kg CO2e for Scope 3. In 2020, Scope 2 emissions were reported at approximately 66.5 billion kg CO2e, and in 2019, Scope 2 emissions were about 71.4 billion kg CO2e. Scope 2 emissions in 2018 were approximately 47.9 billion kg CO2e.

OCBC Bank has established several climate commitments and reduction targets. The bank aims to achieve net-zero by 2040 for Scope 1 and Scope 2 emissions, with a target of a 55% reduction by 2030. For Scope 3 emissions, the goal is to achieve net-zero by 2050, with a 66% reduction by 2030. Additionally, OCBC Bank plans to maintain carbon neutrality for its operational emissions through 2024.

The bank is also actively working on reducing financed emissions intensity in specific sectors. For instance, in the Oil & Gas sector, there is an interim target of a 35% reduction in financed emissions by 2030 from a 2021 baseline, in line with the IEA Net Zero Emissions by 2050 scenario. In 2022, the financed emissions for Oil & Gas reduced by 19% from the baseline. For the Power sector, financed emissions intensity saw a 9% reduction in 2022 from its baseline. The Steel sector's financed emissions intensity also reduced by 8% in 2022 from its baseline. The bank has also indicated a commitment to a global transition away from fossil fuels, aligning with the COP28 agreement to achieve net-zero by 2050.