Singapore's major banks – DBS, OCBC, and UOB – have set sector-specific emissions targets for indirect emissions related to financial activities, known as Scope 3 "financed" emissions.
Collectively, these sector targets span ten carbon-intensive sectors, represent S$200+ billion in corporate loan portfolios, and cover the majority of the banks' total financed emissions.
Financed emissions targets facilitate decarbonisation of emissions-intensive clients, reducing climate-related risks and creating opportunities for new and innovative financial products.
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