Bank DBS Indonesia introduces Green Savings account to facilitate customers in making social and environmental contributions by saving their money
Customers can support social enterprises and at the same time continue to manage their wealth
In the past few years, Bank DBS Indonesia has maintained collaboration with partners, customers, and employees to contribute to society and the environment while improving the quality and sustainability of banking operations. Several programmes have been implemented since the pandemic broke out, including the distribution of food to the public and Covid-19 test kits to several health institutions. Bank DBS Indonesia has been engaged in sustainable banking efforts for a long time, including through a series of Environmental, Social, and Governance (ESG)-based banking products such as the RHB SRI KEHATI Index Fund that focuses on the Indonesian market in 2017 and the Batavia Global ESG. Sharia Equity USD earlier this year for offshore markets. Both are equity index mutual funds.
To further its commitment to building a sustainable society and preserving the environment, Bank DBS Indonesia today launched the Green Savings account product to facilitate customers in making donations and in actively contributing to social and environmental sustainability through automatic donation of a portion of the savings interest. In collaboration with social enterprise KRAKAKOA, all donations collected will be distributed in the form of fertilisers and seeds as well as training for 1,000 cocoa farmers in Indonesia to improve their standard of living and promote sustainable cocoa farming practices.
Festia Pisa Valensia, Head of Segmentation, Liabilities, and Mortgage, PT Bank DBS Indonesia, said in an eTalk Series, a periodic webinar held to provide the latest views on wealth management opportunities, entitled “Building Social Impact through Wealth Growth”, said, “In view of the trends and public concern for sustainability, we are committed to realising customers’ aspiration to contribute to efforts to making positive impacts on society and the environment. This is in line with Bank DBS Indonesia's mission to become the Best Bank for a Better World aimed at empowering society and preserving the environment through responsible banking and business practices, and creating social impacts. We are also moving towards the future of banking in terms of sustainability by presenting ESG-based products, one of them the Green Savings account. We expect to have 2,000 private and priority banking customers of Bank DBS Indonesia to open Green Savings accounts.”
Gita Syahrani, Head of the Lingkar Temu Kabupaten Lestari Secretariat, shared a similar view. Speaking in the same webinar, she said that sustainability in the banking and financial sectors not only has financial benefits but also a positive impact on the environment and society. “In Indonesia, sustainable finance can be focused on building positive impacts through ESG-based strategic sectors in line with national objectives, including energy, sustainable agriculture, and plantations. By downstreaming natural resources-based industries, for example, we can empower social enterprises, MSMEs, and other businesses that have positive impacts. The banking and financial sectors can also work together with regional governments to link unintegrated sectors through natural resources-based industrial estates in villages under the ESG umbrella. This will encourage a more holistic sustainable impact,” she said.
“KRAKAKOA was established with a mission to improve the standard of living of cocoa farmers in Indonesia and encourage sustainable cocoa farming that benefits the environment and business. Through the implementation of the 'farmer-to-bar' principle, farmers receive training and support to produce high-quality cocoa beans so that we can guarantee a fixed purchase price before processing the cocoa into various products that are ready to be sold and consumed. To accelerate KRAKAKOA's mission, we have established a strategic partnership with Bank DBS Indonesia to provide wider access for the public so that they can contribute to efforts to support the sustainability of cocoa farmers and agriculture," said KRAKAKOA CEO Sabrina Mustopo.
The Green Savings account completes a series of ESG-based banking products with positive impacts on society and the environment.
DBS is a leading financial services group in Asia with a presence in 18 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world.
Recognised for its global leadership, DBS has been named “World’s Best Bank” by Euromoney, “Global Bank of the Year” by The Banker and “Best Bank in the World” by Global Finance. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best Digital Bank” by Euromoney. In addition, DBS has been accorded the “Safest Bank in Asia” award by Global Finance for 12 consecutive years from 2009 to 2020.
DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. DBS is committed to building lasting relationships with customers, and positively impacting communities through supporting social enterprises, as it banks the Asian way. It has also established a SG50 million foundation to strengthen its corporate social responsibility efforts in Singapore and across Asia.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. The bank acknowledges the passion, commitment and can-do spirit in all of our 29,000 staff, representing over 40 nationalities. For more information, please visit www.dbs.com.