United Overseas Bank Limited · SGX:U11
United Overseas Bank — ESG Presentation (October 2022)
19 slides from United Overseas Bank's sustainability presentation, Oct 31, 2022
Slide 1: Forging our net zero future
Forging our net zero future 31 October 2022 Private and Confidential
Slide 2: The next industrial revolution to happen within 28 years
The next industrial revolution to happen within 28 years US$100 trillion of investments required Renewable Electric Fossil fuels Agriculture energy vehicles 50 0 gigatons gigatons Carbon capture Shipping ICE vehicles GHG Biofuels GHG and storage (CCUS) Governments Regulators Aviation Cement and stee
Slide 3: Climate change is intensifying with global greenhouse gas emissions continuing to rise
Climate change is intensifying with global greenhouse gas emissions continuing to rise Importance of reaching net zero – If global warming continues to increase at the current rate, global temperatures are likely to exceed 1.5°C above pre-industrial levels between 2030 and 2052. Unabated greenhouse
Slide 4: Our commitment to net zero is grounded in the realities of the region where we operate
Our commitment to net zero is grounded in the realities of the region where we operate Southeast Asia is one of the most vulnerable regions to climate change. Southeast Asia is facing stark consequences – rising sea levels, heat waves, droughts and increasingly severe rainstorms and floods. The regi
Slide 5: Net zero portfolio alignment: Six sectors chosen based on materiality
Net zero portfolio alignment: Six sectors were chosen based on materiality for analysis on decarbonisation pathways Principles for prioritising sectors ENERGY 1 Emissions materiality Focus on “brown” sectors with highest GHG emissions and criticality for achieving climate goals Power Automotive Oil
Slide 6: Dependencies and interdependencies
Dependencies and interdependencies Our focus sectors are interdependent in the pursuit of zero GHG emissions. Greening the energy system is a key enabler to decarbonising sectors such as automotive, real estate, construction and steel, alongside catalysing the development and uptake of lower-emittin
Slide 7: Net zero portfolio alignment: Analyse client emissions by sector and benchmark
Net zero portfolio alignment: Analyse client emissions by sector and benchmark against net zero reference scenarios Example sector-level emissions pathway MT CO2 / sector unit, 2020 – 2050F 2 Current UOB Company-level emissions 3 sector portfolio aggregated to sector portfolio-level Sector portfolio
Slide 8: UOB net zero targets – Energy ecosystem
UOB net zero targets – Energy ecosystem Why is this ecosystem material? Reducing emissions from the burning of fossil fuels is central to addressing climate change. Burning of fossil fuels represents 73% of all global CO2 emissions. The use of fossil fuels in power generation and transportation gene
Slide 9: UOB net zero targets – Energy ecosystem: Power
UOB net zero targets – Energy ecosystem Power sector emissions baseline and targets Power generation – Major user of kgCO2/MWh coal and natural gas 473 Electricity production in ASEAN set to triple. 500 Share of fossil fuels under the projected net zero scenario to decrease from 72% in 2020 to 2% in
Slide 10: UOB net zero targets – Energy ecosystem: Automotive
UOB net zero targets – Energy ecosystem Automotive sector emissions baseline and targets Automotive – Major user of oil gCO2 /vehicle-km Demand for transportation driven by growing 160 middle class in ASEAN. 144 Sales of electric vehicles projected to rise from 4% in 2020 to 65% in 2030, and further
Slide 11: UOB net zero targets – Our sectoral commitments
UOB net zero targets – Energy ecosystem Our sectoral commitments Oil & Gas We commit to no new project financing for upstream O&G projects approved for development after 2022. Commitment is in line with calls from the IPCC, IEA and NGFS that the world must cease development of new fossil fuel resour
Slide 12: UOB net zero targets – Built Environment ecosystem
UOB net zero targets – Built Environment ecosystem Why is this ecosystem material? The built environment is responsible for 39% of global energy-related carbon emissions –– 28% from operational emissions and 11% from the use of materials and construction activities. The ASEAN context Southeast Asia
Slide 13: Built Environment ecosystem: Real estate targets
UOB net zero targets – Built Environment ecosystem Real estate sector emissions baseline and targets Real estate – Emissions generated kgCO2/m2 directly (through burning of fossil fuels) or indirectly (through 120 electricity consumption) 101 There is pressure to continue improving energy 100 effici
Slide 14: Built Environment ecosystem: Construction targets
UOB net zero targets – Built Environment ecosystem Construction sector emissions baseline and targets Construction – Construction and tCO2 /S$ million demolition activities are parts of the value chain most responsible 35 for carbon emissions First to market with a pathway for the construction 30 se
Slide 15: Built Environment ecosystem: Steel targets
UOB net zero targets – Built Environment ecosystem Steel sector emissions baseline and targets Steel – Foundational material in tCO2 /tonne buildings and infrastructure, responsible for ~8% of global carbon 2.0 1.89 emissions -20% by 2030 New technologies such as CCUS and green 1.77 hydrogen are exp
Slide 16: Achieving net zero will require collective efforts from multiple stakeholders
Achieving net zero will require collective efforts from multiple stakeholders • Strong policy responses and sectoral decarbonisation strategies or roadmaps from countries • Incentives and investments from governments • Financing support from the private sector • Technological solutions from the scie
Slide 17: Thank You
tit UOB Thank You
Slide 18: Technical glossary
Technical glossary Network for Greening The NGFS is a network of 114 central banks and financial supervisors that aims to accelerate the scaling up of green the Financial System finance and to develop recommendations for central banks' role for climate change. (NGFS) The NGFS has produced different
Slide 19: Right By You
@ Right By You
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