$UNITED OVERSEAS BANK LIMITED(U11.SI)$
United Overseas Bank (UOB) has expanded to Indonesia with a program for the financing of energy efficiency in buildings. At an event held on Thursday to announce the start of its U-Energy initiative in Indonesia, UOB managing director and head of construction and infrastructure-sector-solutions group of UOB Singapore, Jasper Wong, explained that any institution implementing energy efficiency principles could save up to 50 percent on energy.
“Effectively, energy efficiency is doing the same thing with less energy, or with less cost... If you have to pay more to do energy efficiency, that’s not energy efficiency,” said Wong.
He added that the first step to energy efficiency was benchmarking, which meant an entity had to conduct an audit to figure out where it stood and what it could improve.
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