Our robust governance framework defines our commitment and guides our approach to conducting business.
Our governance structure ensures leadership oversight as well as the effective development and management of sustainability strategies and initiatives.
The Group Sustainability 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 UOB Group Sustainability Framework. The management teams of the UOB entities are responsible for appraising the relevant sustainability issues in their respective domains and for taking appropriate steps to ensure that customers and suppliers also meet relevant policy requirements, wherever applicable.
Strong governance and robust risk culture are crucial to organisational success, value creation and sustainability. Built upon our values of Honour, Enterprise, Unity and Commitment, our corporate governance is upheld by the strong leadership of our Board and Management. This is underscored by our robust system of risk management and internal controls, our continual engagement with our shareholders and other stakeholders, and our culture of accountability and responsibility.
To promote awareness of and instil risk culture across the Group, we:
Employees, business associates and the public are able to report any concerns of suspected or actual wrongdoing confidentially and securely, without fear of reprisal, through our whistle-blowing channels. They may call our whistle-blowing hotline, email or call the Head of Group Audit, Chief Executive Officer, Chairman of the Board Audit Committee or Chairman of the Board. The UOB Whistle-blowing Policy is reviewed annually and approved by the Board Audit Committee.
Reports may be sent by post to the Head of Group Audit at United Overseas Bank Limited, One Raffles Place, Tower 1 #15-02, Singapore 048616 or by email to firstname.lastname@example.org. All reports received are accorded confidentiality and investigated independently by Group Audit, the administrator of the whistleblowing policy. Group Audit submits regular updates on whistleblowing reports received to the Audit Committee.
Prohibiting insider trading
All employees are required to adhere to the UOB Group Staff Trading Policy, which prohibits insider trading. The policy is reviewed annually and approved by the Operational Risk Management Committee (ORMC).
UOB has in place a pre-trade clearance system that requires employees, who may reasonably be expected to have access to inside information, to make declarations and seek approval before dealing in securities or executing their trades on any stock exchanges. In addition, Group Compliance regularly reviews securities transactions to detect potential violations. Employees may be subject to disciplinary action for non-adherence to the policy.
Our sustainability strategy is embedded in our business and aligns with the UN SDGs.
We identify material ESG factors which matter most to our business.
We engage our stakeholders through dialogue and collaboration.