DBS Bank shares strategy for building sustainable ecosystem in Indonesia | Bahasa

Indonesia, 01 Sept 2022 - As a purpose-driven bank, DBS Bank Ltd (DBS Bank) actively supports the development of a comprehensive sustainable financial ecosystem that has been set in motion by the Indonesian government. DBS Bank’s commitment is demonstrated through the provision of sustainable loans and financing as well as collaboration with various parties to build a comprehensive ecosystem to accelerate the development of sustainable finance in Indonesia.

Speaking at the “Sustainability Action For The Future Economy (SAFE) 2022, Recover Stronger Recover Sustainable” webinar, Chief Sustainability Officer DBS Group Helge Muenkel stated, “Each country has a different strategy to tackle emissions. We believe that DBS Bank can achieve its net zero emission target, set for 2050, if companies or clients join the effort to accelerate the green transition. Therefore, DBS Bank's mission is not to end partnership with companies that have not implemented green business practices; instead, we are working hand in hand to find solutions to accelerate the transition toward a greener and more sustainable future.”

DBS Bank acknowledges that a number of key sectors need special attention to achieve the net zero emission target by 2050, including fuel oil and natural gas, power, automotive and aviation, commercial, real estate, agriculture, chemical, and coal. DBS Bank has a comprehensive and structured policy in place to serve as a guideline for the transition towards a more sustainable direction.

To achieve the goal, DBS Bank has three sustainability pillars embedded in its strategies and daily business operations. The first pillar is “responsible banking”, which serves as a basis for DBS Bank’s role in achieving sustainable goals through corporate loans or financing. The second pillar is “responsible business practices” that is reflected in DBS Bank’s daily business operations that pay attention to aspects of sustainability and minimize the ecological footprint (carbon footprint). DBS Bank’s office buildings are green certified and DBS Bank’s branch offices are in the process of installing solar panels to accelerate the effort to achieve the net zero emission target by 2050. To accelerate the realisation of the target, DBS Bank also pays attention to diversity, equality, inclusion, and non-discrimination. The last pillar is “impact beyond banking”, under which DBS Bank supports social entrepreneurs who give a positive impact on efforts to tackle social and environmental problems. As a form of support, DBS Bank recently announced that it will provide SGD100 million in grants to support social entrepreneurs selected based on their positive impact.

“We see that Indonesia has great potential and there are four things that we need to focus on: First, policy certainty. Second, financial planning. Third, innovation, including the use of digital platforms, and, lastly, multi and cross-sectoral collaboration. What we really need is concrete actions taken by all parties, and we are thrilled to be a part of this change. It is our hope that the financing we provide will lead to the creation of other new green solutions that can help accelerate the achievement of the net zero emission target by 2050,” said Helge.