Consistently a trusted partner in business growth, Bank DBS Indonesia champions sustainable transformation | Bahasa
Indonesia.26 Mar 2025.3 min read
Indonesia, 26 Mar 2025 - Indonesia is eying an economic growth rate of 8% by 2028-2029, and, according to the Institute for Essential Services Reform (IESR), accelerated energy transition could be a key driver to achieve the target. The Ministry of Finance estimated that energy transition will cost USD280 billion by 2030. However, of the amount, only 30 percent can be covered by the state budget.
This situation highlights the importance of consistent support from various parties in the country, especially financial institutions including banks, to continue to provide financing for sustainable business transformation. This is also in line with the Sustainable Finance Roadmap (RKB) issued by the Financial Services Authority (OJK) that applies various policies to encourage financing institutions that support sustainable activities and the transition to sustainable economic growth.
Kunardy Lie, Head of Institutional Banking Group at PT Bank DBS Indonesia, said, “As a trusted partner for sustainable financing, we believe that Environmental, Social, and Governance (ESG)-based financing is crucial to drive a sustainable economy, support green projects, and Indonesia's energy transition to achieve the Net Zero Emissions target by 2060. To that end, Bank DBS Indonesia acts as a catalyst by providing financing options such as Sustainability-Linked Loan (SLL) and Green Loan, as well as providing policy insights and market knowledge, supported by our network and connectivity in Asia.”
Bank DBS Indonesia's Track Record in Green Financing
From 2024 to date, Bank DBS Indonesia has seen a 14.8 percent increase in ESG-related financing or Sustainable Business Activities Category (KKUB).
Among others, in January 2025, Bank DBS Indonesia issued USD20 million worth of Sustainability-Linked Trade Facility (SLTF) for PT Indo-Rama Synthetics Tbk, a producer of spun yarn and polyester that is part of Indorama Corporation Pte. Ltd, Singapore.
In early March, Bank DBS Indonesia teamed up with Bank UOB Indonesia to arrange Rp1.7 trillion worth of club loan facility for PT Princeton Digital Group (PDG). The company will use the funds to develop JC2, a 22 MW AI-based data center campus in Cibitung.
In the sustainable food production sector, Bank DBS Indonesia gave IDR350 billion worth of Sustainability-Linked Loan (SLL) to PT CJ Feed & Care Indonesia to help the company achieve its target of reducing greenhouse gas emissions by 25 percent by 2030. Other financing deals included a USD50 million trade financing facility for Permata Group to strengthen its biodiesel sales operations, as well as a financing facility for Kaer, a provider of sustainable cooling solutions for commercial and industrial buildings.
These concrete steps earned Bank DBS Indonesia the title Indonesia's Best Bank for ESG in the Euromoney Awards for Excellence 2024 and World's Best Bank for Sustainable Finance 2025 from Global Finance. These awards are a testament to Bank DBS’ resilience and financial strength while strengthening its role as a trusted partner to customers and society.
A Trusted Partner for Companies in Transition
Recently, DBS Bank Ltd (“DBS Bank”) was appointed as sole financial adviser in the acquisition of 100 percent of stake in Sembcorp Environment Pte. Ltd. (“SembEnviro”) by PT TBS Energi Utama Tbk. (“TBS”) through its subsidiary, SBT Investment 2 Pte. Ltd. The acquisition is a significant milestone for TBS’ regional expansion in the waste management and environmental solutions sector in Indonesia and Singapore.
“We greatly appreciate the strategic partnership with DBS Bank, including its role as financial adviser in the acquisition of SembEnviro. The strong support from DBS Bank through ESG-based financing solutions has accelerated TBS' steps in realising its sustainable business vision. We hope that this close collaboration can continue and become stronger in the future, to jointly create a positive impact on the environment and society,” said TBS CEO Dicky Yordan.
This was not the first collaboration between DBS Bank and TBS. Prior to that, in September 2023, Bank DBS Indonesia and PT Bank Mandiri Tbk were appointed joint book runners and lead arrangers for a USD33 million club deal facility agreement for TBS to acquire Asia Medical Enviro Services (“AMES”), the largest medical waste management company in Singapore.
In addition, Bank DBS Indonesia collaborated with Asian Development Bank as TBS' strategic partner to accelerate the adoption of electric motorcycles in Indonesia by the end of 2024. USD15 million worth of financing was disbursed through PT Energi Kreasi Bersama (“Electrum”).
Kunardy Lie added, “We believe that sustainable financing is key to creating a better future for Indonesia and the region. Our partnership with TBS Group reflects our commitment to supporting businesses that adopt environmentally responsible practices. As one of Asia's leading banks, Bank DBS plays a role in helping companies transition to more sustainable operations while realising a low-carbon economy. These efforts are in line with one of Bank DBS' sustainability pillars, Responsible Banking, on our journey to become the 'Best Bank for a Better World'.”
For more information on sustainable financing by Bank DBS Indonesia, visit this page.
[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 16 consecutive years from 2009 to 2024.
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.
Established in 1989 as part of the Singapore-based DBS Group, PT Bank DBS Indonesia (Bank DBS Indonesia) is one of the banks with the longest history in Asia. Currently operating 1 Head Office, 13 Branch Offices, 16 Assistant Offices and 4 Functional Offices and 3,011 active employees in 15 Major Cities in Indonesia, Bank DBS Indonesia provides comprehensive banking services that focus on the customer experience to 'Live more, Bank less'. We also see a purpose beyond banking and are committed to supporting our customers, employees, and the community towards a sustainable future.
PT Bank DBS Indonesia is licensed and supervised by The Indonesian Financial Services Authority (OJK), and an insured member of Indonesia Deposit Insurance Corporation (LPS).
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 businesses for impact: enterprises 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 underserved communities with future-ready skills and helping them to build 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.
This situation highlights the importance of consistent support from various parties in the country, especially financial institutions including banks, to continue to provide financing for sustainable business transformation. This is also in line with the Sustainable Finance Roadmap (RKB) issued by the Financial Services Authority (OJK) that applies various policies to encourage financing institutions that support sustainable activities and the transition to sustainable economic growth.
Kunardy Lie, Head of Institutional Banking Group at PT Bank DBS Indonesia, said, “As a trusted partner for sustainable financing, we believe that Environmental, Social, and Governance (ESG)-based financing is crucial to drive a sustainable economy, support green projects, and Indonesia's energy transition to achieve the Net Zero Emissions target by 2060. To that end, Bank DBS Indonesia acts as a catalyst by providing financing options such as Sustainability-Linked Loan (SLL) and Green Loan, as well as providing policy insights and market knowledge, supported by our network and connectivity in Asia.”
Bank DBS Indonesia's Track Record in Green Financing
From 2024 to date, Bank DBS Indonesia has seen a 14.8 percent increase in ESG-related financing or Sustainable Business Activities Category (KKUB).
Among others, in January 2025, Bank DBS Indonesia issued USD20 million worth of Sustainability-Linked Trade Facility (SLTF) for PT Indo-Rama Synthetics Tbk, a producer of spun yarn and polyester that is part of Indorama Corporation Pte. Ltd, Singapore.
In early March, Bank DBS Indonesia teamed up with Bank UOB Indonesia to arrange Rp1.7 trillion worth of club loan facility for PT Princeton Digital Group (PDG). The company will use the funds to develop JC2, a 22 MW AI-based data center campus in Cibitung.
In the sustainable food production sector, Bank DBS Indonesia gave IDR350 billion worth of Sustainability-Linked Loan (SLL) to PT CJ Feed & Care Indonesia to help the company achieve its target of reducing greenhouse gas emissions by 25 percent by 2030. Other financing deals included a USD50 million trade financing facility for Permata Group to strengthen its biodiesel sales operations, as well as a financing facility for Kaer, a provider of sustainable cooling solutions for commercial and industrial buildings.
These concrete steps earned Bank DBS Indonesia the title Indonesia's Best Bank for ESG in the Euromoney Awards for Excellence 2024 and World's Best Bank for Sustainable Finance 2025 from Global Finance. These awards are a testament to Bank DBS’ resilience and financial strength while strengthening its role as a trusted partner to customers and society.
A Trusted Partner for Companies in Transition
Recently, DBS Bank Ltd (“DBS Bank”) was appointed as sole financial adviser in the acquisition of 100 percent of stake in Sembcorp Environment Pte. Ltd. (“SembEnviro”) by PT TBS Energi Utama Tbk. (“TBS”) through its subsidiary, SBT Investment 2 Pte. Ltd. The acquisition is a significant milestone for TBS’ regional expansion in the waste management and environmental solutions sector in Indonesia and Singapore.
“We greatly appreciate the strategic partnership with DBS Bank, including its role as financial adviser in the acquisition of SembEnviro. The strong support from DBS Bank through ESG-based financing solutions has accelerated TBS' steps in realising its sustainable business vision. We hope that this close collaboration can continue and become stronger in the future, to jointly create a positive impact on the environment and society,” said TBS CEO Dicky Yordan.
This was not the first collaboration between DBS Bank and TBS. Prior to that, in September 2023, Bank DBS Indonesia and PT Bank Mandiri Tbk were appointed joint book runners and lead arrangers for a USD33 million club deal facility agreement for TBS to acquire Asia Medical Enviro Services (“AMES”), the largest medical waste management company in Singapore.
In addition, Bank DBS Indonesia collaborated with Asian Development Bank as TBS' strategic partner to accelerate the adoption of electric motorcycles in Indonesia by the end of 2024. USD15 million worth of financing was disbursed through PT Energi Kreasi Bersama (“Electrum”).
Kunardy Lie added, “We believe that sustainable financing is key to creating a better future for Indonesia and the region. Our partnership with TBS Group reflects our commitment to supporting businesses that adopt environmentally responsible practices. As one of Asia's leading banks, Bank DBS plays a role in helping companies transition to more sustainable operations while realising a low-carbon economy. These efforts are in line with one of Bank DBS' sustainability pillars, Responsible Banking, on our journey to become the 'Best Bank for a Better World'.”
For more information on sustainable financing by Bank DBS Indonesia, visit this page.
[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 16 consecutive years from 2009 to 2024.
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.
Established in 1989 as part of the Singapore-based DBS Group, PT Bank DBS Indonesia (Bank DBS Indonesia) is one of the banks with the longest history in Asia. Currently operating 1 Head Office, 13 Branch Offices, 16 Assistant Offices and 4 Functional Offices and 3,011 active employees in 15 Major Cities in Indonesia, Bank DBS Indonesia provides comprehensive banking services that focus on the customer experience to 'Live more, Bank less'. We also see a purpose beyond banking and are committed to supporting our customers, employees, and the community towards a sustainable future.
PT Bank DBS Indonesia is licensed and supervised by The Indonesian Financial Services Authority (OJK), and an insured member of Indonesia Deposit Insurance Corporation (LPS).
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 businesses for impact: enterprises 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 underserved communities with future-ready skills and helping them to build 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.
