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UOB and Keppel team up to encourage sustainability in ASEAN
Mon, 29th May 2023

UOB and Keppel have officially announced the signing of Memorandums of Understanding (MOU), to jointly develop and provide businesses across the region with a comprehensive suite of sustainability and digitalisation solutions designed to support their journey towards decarbonisation.

This collaboration brings together UOB’s sustainability and digital transformation financing solutions and tools including the UOB Sustainability Compass and Keppel’s expertise in providing solutions in energy optimisation, sustainable asset enhancement solutions, connectivity and digitalisation.

Together, the collaboration aims to simplify sustainability for businesses. This is the first time UOB is partnering with an organisation of Keppel’s capabilities and reach to extend a holistic suite of sustainability solutions beyond Singapore and into Southeast Asia.

According to a statement, the collaboration will focus on solutions across three sectors: energy, built environment and digital connectivity, which will enable the implementation of smart sustainable solutions.

Infrastructure: Energy as a Service (EaaS)

The company states,enterprises will be able to achieve energy efficiency and cost savings as well as reduce their carbon footprint through Keppel’s Energy as a Service solution.

This includes electricity with Renewables Energy Credits (RECs), energy storage solutions, distributed solar photovoltaic systems, EV charging infrastructure; all digitally powered by smart operations performance management at Keppel’s Operations Nerve Centre. UOB states it will provide competitive sustainable financing for these solutions.

Built environment: Sustainable urban renewal

Keppel and UOB will assist real estate owners to rejuvenate their assets through Keppel’s expertise in sustainable asset enhancement by incorporating a suite of smart sustainability solutions, spatial programming and workplace solutions that improve building performance and uplift asset value, according to a statement.

By using an integrated approach to reach ESG goals, these solutions will extend the lifespan of these assets while achieving industry certification standards.

Digitalisation and connectivity

With business processes increasingly going digital, UOB will collaborate with M1, a subsidiary of Keppel, to help enterprises advance in their digital and sustainability transformation journey. This will be done through the joint development of connectivity and digitalisation solutions with embedded banking and sustainability reporting solutions.

Wee Ee Cheong, Deputy Chairman and Chief Executive Officer, UOB, comments, “This collaboration brings two like-minded organisations together to jointly drive sustainability and digitalisation. With both of our collective expertise across multiple sectors, we can help innovate and accelerate the adoption of sustainable practices starting from Singapore, and across the ASEAN region.

"This strategic partnership with Keppel will provide new pathways for companies across the region to become more sustainable and resilient. We believe this will support both businesses and end-users to contribute towards a low-carbon and digital economy.”

Loh Chin Hua, CEO of Keppel says, “Tapping on Keppel’s decades of operating and engineering capabilities, Keppel is pleased to partner UOB to offer sustainability solutions which help companies address some of their most pressing needs in their sustainability and digitalisation journey.

"Together with UOB, we are able to offer end-to-end turnkey solutions that will accelerate the adoption of sustainable practices. We look forward to working closely with like-minded partners, such as UOB, as we lead the charge for a more sustainable future.”