OCBC's ESG - RHB Invest 2024-03-22: Bar For Improvement Is Low

OCBC's ESG - Bar For Improvement Is Low

OCBC (SGX:O39) | SGinvestors.ioOCBC (SGX:O39)
  • Post-updates to our ESG scoresheet for banks under our coverage (refer to our thematic note, Banks: In Pursuit Of Net Zero), we maintain OCBC’s ESG score at 3.1. Hence, there is no change to the 0% ESG premium/discount that we attach to OCBC Bank’s intrinsic value to derive OCBC's target price.
  • - Read this at SGinvestors.io -

OCBC's ESG – The positives.

  • - Read this at SGinvestors.io -
  • As a signatory to the Net-Zero Banking Alliance (NZBA), OCBC is committed to an orderly transition towards a net-zero economy for itself and customers. As such, OCBC has embarked on its journey towards achieving net zero by 2050, with an interim target of 2030 or sooner.
  • OCBC has committed to invest more than S$25m to increase the use of renewable energy in its energy mix for operations over four years to reduce its carbon footprint in Singapore, Malaysia and Greater China.
  • OCBC has also set a target of S$50bn by 2025 for its sustainable financing portfolio – this was surpassed in end-2023, when its sustainable financing commitment reached S$56bn.

Areas for improvement?

  • Read more at SGinvestors.io.

Singapore Research RHB Securities Research | https://www.rhbgroup.com/ 2024-03-22

Read also RHB's most recent report:
2024-04-16 OCBC Bank - Where Could 1Q24 Results Surprises Come From.

Price targets by 5 other brokers at OCBC Target Prices.

Listing of research reports at OCBC Analyst Reports.

Relevant links:
OCBC Share Price History,
OCBC Announcements,
OCBC Dividends & Corporate Actions,
OCBC News Articles


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