UOB's ESG - RHB Invest 2024-03-22: Forging Ahead To A Net-zero Future

UOB's ESG - Forging Ahead To A Net-zero Future

UOB (SGX:U11) | SGinvestors.ioUOB (SGX:U11)
  • Post-updates to our ESG scoresheet for the banking sector (refer to the thematic note Banks: In Pursuit Of Net Zero), we keep UOB’s ESG score at 3.2. As such, we continue to ascribe a 2% ESG premium to UOB’s intrinsic value to derive UOB's target price.
  • - Read this at SGinvestors.io -

UOB's ESG – The positives.

  • - Read this at SGinvestors.io -
  • Apart from that, UOB has committed to exit financing for the thermal coal sector by 2039, and to cease new financing for upstream oil and gas projects approved for development after 2022. It targets to achieve a sustainable finance portfolio of S$30bn by 2025. As at 2022, the portfolio stood at S$25bn.
  • Finally, UOB has channelled S$10bn in assets under management to ESG-focused investments.

Areas for improvement?

  • Read more at SGinvestors.io.

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

Previous report by RHB:
2024-02-23 UOB - 1H Pain, 2H Gain?.

Price targets by 4 other brokers at UOB Target Prices.

Listing of research reports at UOB Analyst Reports.

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


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