Our Approach to Sustainability
At a GlanceOur approach to sustainability is guided by a sense of purpose: to create value for the long term, by managing our business in a balanced and responsible way. Our approach to sustainability is based on three pillars – responsible banking, responsible business practices and creating social impact.
Responsible BankingWe deliver products and services that promote sustainable development, and conduct our business in a fair and responsible manner.
Responsible Business PracticesWe do the right thing by our most important resource — our people — and take into account environment and societal considerations in our day-to-day business operations.
Creating Social ImpactWe seek to be a Force for Good by supporting social enterprises — businesses with a double bottom line — and giving back to the communities in which we operate.
Sustainable Development GoalsAs a member of the United Nations Global Compact, we are committed to driving progress towards achieving the SDGs.
Sustainability GovernanceThe Board has overall responsibility for sustainability and integrates environmental, social and governance (ESG) matters in the formulation of DBS’ strategy. The Board also determines what material sustainability matters are and provides guidance on their management and monitoring. ESG matters that are material to value creation are integrated into our balanced scorecard which is used to set objectives, drive behaviours, measure performance and determine remuneration of our people. The scoreboard is updated yearly and approved by the Board.
The Board delegates the execution of DBS’ strategy to the CEO, who heads the Group Executive Committee and is responsible for managing DBS’ day-to-day operations.
The DBS Sustainability Council, chaired by the Chief Sustainability Officer and comprising senior leaders across business and support units, reports to the CEO. It is responsible for developing DBS’ overarching sustainability framework, setting key performance indicators (KPIs) and targets in consultation with the relevant stakeholders, and driving sustainability initiatives across the bank. The Council also advises the CEO on material ESG matters which contributes to DBS’ overall materiality assessment. This in turn informs the Board’s strategic planning. The council meets monthly and provide periodic updates to the CEO, Group Management Committee and the Board.
Our senior management participated in training and workshops focused on sustainability. Additionally, relevant senior managers have been invited to attend training sessions focusing on topic specific sustainability matters.
Stakeholder EngagementOur key stakeholders are those who most materially impact our strategy, or, are directly impacted by it. They comprise of our shareholders, customers, employees, society, regulators and policy makers. Engaging with them provides us with an understanding of the matters they are most concerned with.
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