At UOB, we take our responsibilities seriously to contribute to the region’s long-term economic, social and environmental well-being. To create long-term value for all our stakeholders, we have put frameworks, policies, guidelines and procedures in place to ensure that we remain responsible and disciplined in how we drive growth.
One of the ways to drive growth sustainably is to incorporate sustainability risk elements into our approach to risk management. This includes integrating ESG considerations into our credit evaluation and approval processes. We also strengthen capacity-building and ensure all relevant colleagues are trained in responsible financing principles, policies and procedures.
UOB supports businesses to seize the growth opportunities through our sustainable finance solutions and shape their responsible actions with a view to driving transition towards a low carbon future. Across our core network in the Asia region, we offer sustainable finance products in six categories, which are green bonds and loans, sustainability-linked bonds and loans, green and sustainable trade finance and working capital solutions.
In the area of responsible financing, we have been progressively rolled out sustainable finance programmes such as our Green and Sustainable Trade Finance and Working Capital Framework and facilities to support businesses in strengthening their supply chain resilience. In 2022, UOB Hong Kong signed a Memorandum of Understanding with the Hong Kong Quality Assurance Agency to collaborate on green financing, contributing to environmental protection and sustainable development. By 2025, we aim at building a sustainable finance portfolio of HK$175 billion by 2025.
Climate change is a priority for us. We have assessed the climate-related opportunities across UOB’s focus sectors and integrated climate considerations into our solutions. These aim to maximise impact across various industries, customers and partners, leveraging UOB’s core strengths and ASEAN footprint, with acceptable risks and returns to shareholders.