Materiality

UOB Thailand’s most significant impacts on the economy, environment and society are reflected in our material environmental, social and governance (ESG) factors. We conduct stakeholder consultations on a continual basis to ensure that these material factors are in context of our operating environment, business and operations, as well as regulatory and stakeholder expectations

In 2022, UOB embarked on a materiality assessment exercise with key stakeholder groups, both internal and external, to gather their feedback on the ESG factors most important to UOB and that have the greatest impact on them. The exercise adopted an integrated approach of analysing both quantitative and qualitative research to gain a holistic overview of stakeholder expectations.

UOB Thailand then reviewed these ESG factors through consultation with the Sustainability Committee, based on insights gained from ongoing interactions and feedback from other stakeholders. Increasingly interconnected, our material ESG factors inform our strategic decision making and guide us in our practices, stakeholder engagement and reporting.

Material ESG Factors

Material ESG Factors

Priority

Strategic Objectives

Drive Growth Sustainably

Economic contributions

Critical
  • Contribute economically to the progress of our communities

Sustainable banking

Critical
  • Embed ESG risk in our approach to risk management
  • Integrate social and environmental considerations into our credit evaluation and approval processes
  • Adopt and promote climate-resilient practices to support our customers in their transition to a low carbon economy
  • Develop and provide sustainable financing and sustainable investment solutions

Keep Customers at the Centre

Fair Dealing

Critical
  • Ensure Fair Dealing

Data privacy and governance

Critical
  • Protect customer data and privacy through secure and robust systems and practices
  • Protect the financial system against abuse

Customer experience

Critical
  • Create intuitive and impactful customer experiences
  • Make banking simpler, smarter and safer through ethical use of technology and data

Financial inclusion

Important
  • Make banking more accessible and inclusive
  • Support businesses across all stages of growth

Develop Professionals of Principle

Talent development and inclusion

Critical
  • Develop high-performing teams and future-focused individuals
  • Promote work-life harmony
  • Ensure employee engagement and satisfaction
  • Embrace diverse abilities and strengths through inclusivity

Workplace safety, health and well-being

Critical
  • Promote work-life harmony
  • Ensure workplace health, safety and well-being

Uphold Corporate Responsibility

Governance and risk culture

Critical
  • Maintain highest standards of governance and risk culture

Regulatory compliance

Critical
  • Ensure regulatory compliance
  • Protect the financial system against abuse

Information security

Critical
  • Protect customer data and privacy through secure and robust systems and practices
  • Make banking simpler, smarter and safer through ethical use of technology and data
  • Protect the financial system against abuse

Direct environmental impact

Very Important
  • Manage direct environmental impact and encourage environmental stewardship

Sustainable procurement

Important
  • Incorporate sustainability principles into our procurement practices

Community stewardship

Very Important
  • Champion social development in art, children and education
  • Encourage volunteerism and advocacy for social and environmental causes
  • Encourage environmental stewardship

Related

/Strategy

Strategy

Our sustainability strategy is embedded in our business and aligns with the UN SDGs.

/Stakeholder engagement

Stakeholder engagement

We engage our stakeholders through dialogue and collaboration.

/Governance

Governance

Our sustainability governance framework guides our approach to conducting business.

/Strategy

Strategy

Our sustainability strategy is embedded in our business and aligns with the UN SDGs.

/Stakeholder engagement

Stakeholder engagement

We engage our stakeholders through dialogue and collaboration.

/Governance

Governance

Our sustainability governance framework guides our approach to conducting business.