The reference pathways, which are developed by autonomous global organisations, are geared towards achieving a net zero level of greenhouse gas emissions by 2050 to limit global warming to 1.5°C above pre-industrial levels.
Oversea-Chinese Banking Corporation (OCBC) O39 has launched a new net-zero-aligned loan for corporates. The new financing solution, named the OCBC 1.5°C loan, provides incentives for corporates to set and work towards clear carbon emissions reduction targets aligned with internationally recognised, science-based net-zero decarbonisation pathways for their sectors.
The loan, which is said to be the first in Singapore, means corporates will get a reduced interest rate on their loans when their targets are met or exceeded.
