Singapore banks lead advanced Asia in sustainable financing policies: Report

Quick Summary:

An area of improvement will be to have a deadline to cease financing the oil and gas sector totally.

All six Japanese and South Korean banks have also not made any public commitment to stop the financing of new upstream oil and gas projects, though some have plans to restrict the financing of such activities.

DBS’ targets for the oil and gas sector covers upstream, downstream and integrated companies, and it is targeting to reduce absolute financed emissions by 92 per cent in 2050 from its 2020 levels.

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Article Details

Category: EconomyBusiness

Markets: SingaporeJapanSouth Korea

Topics: Advanced Sector Banks Financing South Upstream Emissions Financed Targets Report Singapore

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-01 @ 19:15:00 (4 hours ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Article Length: 1034 words

Reading Time: 6 minutes read

Sentences: 36 lines

Sentence Length: 29 words per sentence (average)

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Copyright Owner: © The Straits Times

News ID: 22319237

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