UOB adopts Bloomberg Barclays green bond index

It is the first Singaporean bank to do so.

UOB has adopted the Bloomberg Barclays MSCI Global Green Bond Index, the first Singaporean lender to adopt the index for its green bond product offering, a statement read.

Launched in 2014, the index is part of a family of green bond indices in the Bloomberg Barclays MSCI ESG Fixed Income benchmark offering. Fixed-income securities are independently evaluated by MSCI ESG Research along four dimensions to determine whether a security should be classified as a green bond.

These eligibility criteria reflect themes articulated in the principles and require clarity about a bond’s use of proceeds, process for green project evaluation and selection, process for management of proceeds, and commitment to ongoing reporting of the environmental performance of the use of proceeds.