On August 17, OCBC Bank announced it is partnering with Eco-Business, to launch the inaugural OCBC Climate Index, a measurement of the current levels of environmental sustainability awareness and climate action among Singaporeans. Eco-Business developed the approach and framework for the Index given its expertise in environmental sustainability.
The approach and framework for the OCBC Climate Index -developed by the bank - is based on an individual’s climate action conversion journey across key aspects of urban living. There are three pillars in the journey – knowledge of environmental issues (Awareness), how much and how often one adopts green practices (Adoption), and how often one encourages others to adopt green practices (Advocacy).
To represent the main aspects of urban living, four lifestyle themes were chosen: Transport, Home, Food and Goods. These were weighted based on how they impact an individual’s carbon footprint – Transport (45%), Home (25%), Food (15%) and Goods (15%).