Singapore's best bank for CSR 2021: UOB
UOB may appear a bit of a laggard in the corporate social responsibility space when compared to bigger – and more vocal – peers like DBS Bank. However, it has come into its own regarding sustainability and CSR recently; in April 2021, it appointed its first chief sustainability officer, Eric Lim, to sharpen the focus on achieving its sustainability objectives.
This has led to UOB having breadth and depth when it comes to driving its own sustainability agenda and helping businesses to meet their own goals. It does this by emphasizing four areas: driving growth sustainably; putting customers in focus; developing principles for its staff; and upholding corporate responsibility.
These focus areas are reflected in some of UOB’s initiatives. Take its U-Solar programme as an example. This is a scheme to help clients adopt solar power and to drive lower-carbon economies. In 2021, the programme contributed to greenhouse gas savings across Asean which were equivalent to planting 1.3 million tree seedlings.
The bank also educates customers on the importance of environmental, social and governance themes in their investment portfolios.