- Challenges in obtaining accurate and complete data in the calculations of financed emissions.
- Data challenges in the Real Estate sector due to lack of direct data and divergence between national statistics and reference pathways.
- Challenges in decarbonising the Aviation sector due to lack of commercially viable decarbonisation solutions.
- Challenges in the Shipping sector due to the availability of commercially viable low-carbon alternatives.
Oversea-Chinese Banking Corporation Limited
Greenhouse gas emissions & sustainability report data
In its 2023 reporting, Oversea-Chinese Banking Corporation Limited disclosed greenhouse gas emissions of 27.5K tCO2e/year. By scope: Scope 1: 147 tCO2e/year; Scope 2: 68.3K tCO2e/year (location-based) 23501 tCO2e/year (market-based); Scope 3: 3.8K tCO2e/year. Figures are as stated in the company's own report and may use different boundaries, units or methods (for example market-based vs location-based Scope 2), so compare with care.
GHG Emissions
27.5K tCO2e/year
2023
Water Usage
434.0K m3/year
2023
Waste
1.6K tons/year
2023
Energy Use
115.6K MWh/year
2023
📊 Emissions by Scope (2023)
| Scope | What it covers | Reported value |
|---|---|---|
| Scope 1 | Direct emissions from sources the company owns or controls (fuel combustion, company vehicles, process and fugitive emissions). | 147 tCO2e/year |
| Scope 2 | Indirect emissions from purchased electricity, steam, heat and cooling. | 68.3K tCO2e/year (location-based) 23501 tCO2e/year (market-based) |
| Scope 3 | Other indirect emissions across the value chain (purchased goods, business travel, use of sold products, etc.). | 3.8K tCO2e/year |
New to scopes? Read Scope 1, 2 and 3 emissions explained and market-based vs location-based Scope 2.
📈 Emissions by Report Period
| Report period | Headline emissions figure reported |
|---|---|
| 2023 | 27.5K tCO2e/year |
| 2022 | 61.6K tCO2e/year |
| 2021 | 61.9K tCO2e |
Each row is the headline figure extracted from a different report; scope coverage and methodology can change between years.
✅ Reported Environmental Achievements
- Achieved carbon neutrality for our banking operational emissions by actively reducing our emissions and offsetting unabatable and residual emissions with carbon credits
- Received BCA Green Mark award for OCBC Wisma branch and OCBC Tampines branch
- Completed installation of electric vehicle charging points at most of the major Group-owned commercial buildings in Singapore, Malaysia, Indonesia and China
- Achieved 7.9% year-on-year reduction in office paper usage within the Group offices for business operations
🎯 Climate & Sustainability Targets
🔜 Short-term
- Maintain carbon neutrality for OCBC’s banking operational emissions in 2024
- Receive BCA Green Mark award for all OCBC Bank Singapore branches by 2030
- Provide electric vehicle charging facilities to major Group-owned commercial buildings by 2025
📅 Medium-term
- Achieve 42% of leadership positions filled by women by 2025
- Increase by 10% in annual employee volunteering hours in 2024
🔭 Long-term
- Achieve net zero in financed emissions for six sectors by 2050
🌱 ESG Focus Areas
Climate ActionResponsible FinancingSustainable Financial SolutionsTalent Management and WellbeingWorkplace DiversityCommunity DevelopmentCybersecurity and Data ProtectionFair DealingFinancial Crime PreventionGovernance and Culture