OCBC: Sets new sustainable finance target of S$25 billion by 2025
- OCBC Bank has set an ambitious new target of S$25 billion by 2025 for its sustainable finance portfolio
- The bank has seen a significant increase in the demand for sustainable financing in recent years due to better awareness
- Natural disasters, including the Australian bushfires and heat waves in Japan and India in 2019 highlighted the urgency of the situation
- Reports of lower pollution and clearer skies amidst COVID-19 quarantines and also scaled-down business activities
- Last year, OCBC Bank witnessed a strong demand for green and sustainability-linked loans
- The European Union’s economic recovery package already has portions earmarked for green purposes
