DBS issues standalone sustainability report, first Singapore bank to do so

[1]Pillar 1: Responsible banking – delivering products and services that promote sustainable development and conducting business in a fair and responsible manner.

In the area of responsible financing, DBS provided sustainability financing amounting to more than SGD 2.4 billion in 2018. This included green loans, sustainability performance-linked loans and renewable energy financing.

In the area of climate change, the bank is committed through its business activities to promote an orderly transition to a low-carbon economy, while balancing the need for economic growth and social inclusion. As an example, it supported clients’ issuances such as Start Energy’s Wayang Windu geothermal green project bond and the State Bank of India’s maiden green bond.

In the area of digital finance, DBS has joined the Sustainable Digital Finance Alliance and the UN Task Force on Digital Financing for SDGs. These collaborations address the potential for fintech-powered business innovations to reshape the financial system in ways that better align with the needs of sustainable development.

In support of the financial inclusion agenda, through the years, DBS has lent a total of SGD 38 billion to SMEs. DBS’ social enterprise (SE) banking package also offers SEs unsecured business loans at a preferential rate of 5% fixed per annum. In Singapore, the bank is the bank of choice for many migrant workers, and waives fees for ex-offenders to help their reintegration into society.

Pillar 2: Responsible business practices – doing the right thing by employees and taking into account environmental and societal considerations in day-to-day business operations.

In support of diversity and equal opportunity, DBS seeks to create a workplace that is supportive of employees as they grow and thrive in different aspects of their lives. In 2018, the bank enhanced its parenthood leave which includes maternity, paternity and adoption. It also introduced neonatal care leave for employees who require additional support when their child is born prematurely. For the second year running, the bank was included in the Bloomberg Gender-Equality Index.

In the area of sustainable procurement, DBS requires all new suppliers to be reviewed against its Sustainable Source Principles (SSP), which outlines the expectations the bank has of its suppliers in four key areas – human rights, health and safety, environmental sustainability, as well as business integrity and ethics. In 2018, 99.6% of new suppliers signed their commitment to support DBS’ SSP.

Pillar 3 - Creating social impact – being a Force for Good by supporting social enterprises – businesses with a dual bottom line – and giving back to the communities

In the area of social entrepreneurship, the DBS Foundation awarded SGD 1.25 million in grants to 12 SEs through the SE Grant Programme in 2018. The programme enables social enterprises to develop a prototype of their idea, add critical capabilities for business sustainability, or scale up existing businesses, leading to greater social impact. In 2018, DBS employees also mentored more than 50 SEs across its six core markets to help scale their businesses.

On employee volunteerism, through DBS’ “People of Purpose” volunteerism movement, in 2018, employees spent more than 65,000 hours helping to drive impact in the areas of ageing, education and the environment. The total value of time committed is estimated to be over SGD 6 million since 2014.

https://www.dbs.com/sustainability/overview/sustainability-reporting/default.page
^[1] The United Nations’ Sustainable Development Goals are the blueprint to achieve a better and more sustainable future for all. They address the global challenges we face, including those related to poverty, inequality, climate, environmental degradation, prosperity, and peace and justice. Source - https://www.un.org/sustainabledevelopment/sustainable-development-goals/

Links:-

1) DBS 2018 Annual Report.
2) CEO Piyush Gupta’s reflections on – the bank’s progress on digital transformation, our responsibilities to shareholders and how we align them to those to stakeholders;
3) A financial view of how our transformed franchise has delivered ROE that is at its highest since 2007
4) Our journey to becoming the best bank in the world [END]About DBSGlobal Bank of the YearBest Bank in the WorldSafest Bank in Asiawww.dbs.com.