DBS: Hong Kong SMEs are less likely to consider ESG as a high priority for their business compared to the rest of Asia

Jolynn Wong, Head of SME Business Banking, Institutional Banking Group, DBS Hong Kong,

Identify financing opportunities to partner with their clients on the net zero journey;

Shift customers’ portfolios to align with climate goals and;

Identify risk management principles when advising customers on their transition journeys.

In September this year, DBS laid out its plans to strategically direct its financing towards lower-carbon activities. It was the first bank in Southeast Asia to announce a landmark set of decarbonisation commitments, with interim targets set for 2030. The commitments represent one of the most comprehensive sets of decarbonisation targets in the global banking industry and reinforce DBS’ commitment to net zero financed emissions by 2050.

In November, DBS Hong Kong together with CLP Power, launched industry-leading sustainable financing solutions to help companies, regardless of their scale, transition to more sustainable business models. To help seafood company Koon Tat Kai move towards a more energy-saving business model, DBS Hong Kong offered banking support with preferential pricing upon the completion of an energy audit with CLP Power while CLP Power provided extensive guidance on energy consumption and best practices for Koon Tat Kai to maximise energy efficiency.[End]About DBS
DBS is a leading financial services group in Asia with a presence in 19 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 Global Finance, “World’s Best Bank” by Euromoney and “Global Bank of the Year” by The Banker. 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 and the world’s “Most Innovative in Digital Banking” by The Banker. In addition, DBS has been accorded the “Safest Bank in Asia” award by Global Finance for 14 consecutive years from 2009 to 2022.

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, as it banks the Asian way. Through the DBS Foundation, the bank creates impact beyond banking by supporting social enterprises: businesses with a double bottom-line of profit and social and/or environmental impact. DBS Foundation also gives back to society in various ways, including equipping communities with future-ready skills and building food resilience.

With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit www.dbs.com.