Singapore’s OCBC Bank has unveiled decarbonisation targets for its ship finance activities as part of a wider initiative targeting carbon-intensive industries.

South East Asia’s second-largest lender aims to achieve a target metric or “alignment delta” at or below zero by 2030 for shipping.

Alignment delta is based on emission intensity or the emissions per unit of output. The targets are expressed in percentage terms to measure how far above or below the reference pathway the emission intensity is.