UBS inks a 10-year deal with Singaporean utilities and marine group Sembcorp which will supply renewable energy to power the bank’s Singapore offices.
The deal includes the sale of 15,000 rooftop solar panels – exclusively bought by UBS – with 6.3 megawatt-peak in capacity. According to a regulatory update, the panels will be installed on top of UBS’s 40,000 square meter exhibition hall by December 2019.
The deal aims to utilize solar power to run 25 percent of UBS’s annual energy consumption across its offices in the city-state replacing around 20 million kilograms of carbon emission in 10 years. And by 2020, UBS aims to fully power its Singapore operations with renewable energy.
«As a global firm, UBS strives to go beyond our duty to protect the environment and continually improve our systems to ensure responsible behavior in all aspects of our operations,» said Singapore country head for UBS, August Hatecke.
