What's New In Investments, Funds? - Deutsche Bank, UOB

Editorial Staff

14 October 2021

Deutsche Bank
has launched a financing platform in Asia to support energy efficient buildings.

The bank’s platform, which is called U-Energy, will back projects in the region, starting in Singapore, followed by Malaysia, Thailand and Indonesia.

The bank said it will help businesses and homeowners cut electricity bills and carbon emissions.

Globally, buildings and construction projects account for 38 per cent of carbon emissions, UOB said, citing figures from the Global Alliance for Buildings and Construction. In Singapore, for example, the jurisdiction is trying to reduce C02 emissions by 36 per cent from the 2005 levels by 2030.

At launch, the U-Energy platform will have nine energy service companies that customers can tap for energy efficiency projects. Commercial and industrial building owners can opt for a direct purchase of the energy-efficient equipment or system with UOB’s green financing. Under this scheme, building owners may obtain a loan of up to $10 million with a maximum seven-year loan facility, subject to optimal equipment and system sizing by the U-Energy partners.