PR91231

SINGAPORE, Aug. 20, 2021 /PRNewswire=KYODO JBN/ --

UOB today announced that it has been approved to join the Equator Principles

Association and has adopted the Equator Principles (EPs), a risk management

framework used by financial institutions globally for determining, assessing

and managing environmental and social risk in projects[1]. The EPs provide

financial institutions with a set of internationally-recognised standards for

due diligence and monitoring of projects to support responsible risk

decision-making.

As an Equator Principles Financial Institution (EPFI), UOB is committing to the

implementation of the EPs in its environmental and social policies, procedures

and standards for financing projects.

Mr Eric Lim, Chief Sustainability Officer, UOB, said, "As an EPFI, we will

ensure that rigorous environmental and social standards are applied in the

projects we support, from the project development stage through to follow-up

monitoring. UOB's adoption of the EPs underscores our ongoing integration of

sustainability into our business strategy and lending practices, as we fulfil

our role as a catalyst and enabler in helping our clients across the region to

grow responsibly."  

At UOB, environmental, social and governance (ESG) risk is actively monitored

and managed. The adoption of the EPs will further strengthen the Bank's

processes and practices as it continually enhances its approach to ESG risk

management, Responsible Financing Policy and disclosure.

In supporting the national sustainability agenda of the countries in which it

operates, especially across Southeast Asia, UOB is also proactively working

with its clients to drive sustainable development. The Bank provides

sustainable financing solutions that enable its clients to create positive

environmental and social impact in areas such as sustainable infrastructure and

land use, renewable and transitional energy, energy efficiency and

connectivity, as well as circular economy. These solutions are anchored by the

Bank's sustainable finance frameworks, including the UOB Smart City Sustainable

Finance Framework, the UOB Green Trade Finance Framework, the UOB Real Estate

Sustainable Finance Framework and the UOB Green Circular Economy Framework. As

at the end of June 2021, UOB provided a total of S$13 billion in sustainable

financing.

[1] A project is a development in any sector at an identified location and

includes an expansion or upgrade of an existing operation.

About UOB

United Overseas Bank Limited (UOB) is a leading bank in Asia with a global

network of around 500 offices in 19 countries and territories in Asia Pacific,

Europe and North America. Since its incorporation in 1935, UOB has grown

organically and through a series of strategic acquisitions. UOB is rated among

the world's top banks: Aa1 by Moody's Investors Service and AA- by both S&P

Global Ratings and Fitch Ratings. In Asia, UOB operates through its head office

in Singapore and banking subsidiaries in China, Indonesia, Malaysia, Thailand

and Vietnam, as well as branches and representative offices across the region.

Over more than eight decades, generations of UOB employees have carried through

the entrepreneurial spirit, the focus on long-term value creation and an

unwavering commitment to do what is right for our customers and our colleagues.

We believe in being a responsible financial services provider and we are

committed to making a difference in the lives of our stakeholders and in the

communities in which we operate. Just as we are dedicated to helping our

customers manage their finances wisely and to grow their businesses, UOB is

steadfast in our support of social development, particularly in the areas of

art, children and education.

SOURCE United Overseas Bank