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UOB, OCBC and DBS lead in study of Asean sustainable banking
WWF review of 35 Asean banks finds they're still not acting fast enough against environmental degradation and climate change
Tay Peck Gek
Published Tue, Aug 20, 2019 · 09:50 PM
Singapore
AMONG 35 Asean banks assessed, only the three Singapore banks and a Thai financial institution met at least half the criteria in a survey of their performance in environment, social and governance (ESG) integration.
The study by WWF, an independent conservation organisation, noted that UOB, OCBC and DBS, in particular, demonstrated leadership by prohibiting the financing of new coal-fired power plants and implementing no-deforestation commitments, unlike 91 per cent of their peers.
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