Inadequate sustainability financing for a third of Singapore SMEs
Just under a third of Singapore's small and medium-sized enterprises (SMEs) have inadequate financial support from government and banks to implement sustainable practices, said the United Overseas Bank (UOB). However, the majority are looking to incorporate more sustainable activities into their businesses.
UOB exceeds sustainability targets
United Overseas Bank Group's (UOB) sustainable finance portfolio reached S$17 billion ($12.6 billion) in 2021, exceeding its target of hitting a S$15 billion sustainable finance portfolio by 2023.
HSBC closes coal project funding loophole as pressure mounts
HSBC has closed a controversial loophole which allowed the bank to continue to fund coal projects in three countries, but campaigners continued to push for coal funding to be withdrawn altogether.
Malaysian banks fund coal power projects at expense of renewables
Malaysian banks continue to provide significant funding to coal power projects amid a rising number of international peers stepping back from such financing, according to a report by an Australian environmental pressure group.
Most ASEAN banks still financing coal power and deforestation, says WWF
The vast majority of banks in south-east Asia are still financing ‘unsustainable’ activities such as coal-fired power and deforestation, says WWF.
HSBC tightens policy on palm oil financing
HSBC has pledged to tighten its policy on financing palm oil companies, to help improve the sustainability of the industry.