Board of Directors and Management Executive Committee (MEC)
UOB’s Board of Directors, through the Executive Committee, and the MEC review long-term business and organisational goals and provide the strategic direction for the Bank’s sustainability practices. They review, determine and oversee the management and monitoring of the Bank’s material ESG factors and their scope, as well as evaluate relevant key performance indicators. They also review and approve relevant disclosures.
Group ESG Committee
The Group ESG Committee reports directly to the MEC on sustainability matters. This ensures that ESG factors are given due consideration in all aspects of our operations. The ESG committee members represent the Bank’s business and support units whose activities have the potential to impact the environment, society and the economy positively and negatively. The Group ESG Committee reviews material ESG topics, identifies risks and opportunities, sets goals and targets, evaluates emerging issues, collates and assesses relevant data, and monitors the progress of sustainability-related programmes and initiatives.
Group ESG Framework
The Group ESG Framework was formalised in 2019. Underpinned by policies and guidelines that define our commitment and guide our approach to conducting business, the framework supports UOB’s business decision-making at all levels. It provides guidance on the management of sustainability-related risks and business opportunities in the context of our direct and indirect impact to the environment, society and the economy.
It is the responsibility of all UOB employees to comply with the Group ESG Framework. The management teams of the UOB entities are responsible for appraising the ESG issues in their respective domains and for taking appropriate steps to ensure that customers and suppliers also meet relevant policy requirements, wherever applicable. Sustainability indicators are integrated into the Key Performance Indicators (KPIs) and appraisal process for colleagues from relevant functions.