DBS and Climate Bonds Initiative announce partnership to advance climate adaptation financing across Asia Pacific
Partnership aims to unlock opportunities in climate adaptation and resilience financing across the region
DBS will upskill employees to deepen understanding of climate adaptation and to integrate relevant criteria into financing decisions and risk analysis
Singapore, 19 May 2026 - Amid a growing need to catalyse financing for climate adaptation and resilience across the region, DBS today announced a partnership with leading global non-governmental organisation, Climate Bonds Initiative (CBI), to deepen capabilities and advance financing solutions in this space.
The partnership comes at a time when economies must urgently adapt and develop more resilient infrastructure to cope with climate change and escalating physical climate risks. This in turn presents a growing need for capital – to the tune of over USD 365 billion a year by 2035[1].
Growing need for capital to finance climate adaptation and climate resilience
Climate adaptation is the process of helping economies, businesses and communities adapt to the physical impact of climate change such as floods, heatwaves and rising sea-levels, while resilience is the ability of these groups to withstand and recover from climate-related shocks. While reducing greenhouse gas emissions remains critical, the intensifying impact of physical climate risks underscores the need to scale financing for adaptation and resilience in parallel.
Adaptation and resilience are rapidly becoming a top priority for governments and Boards alike. In Singapore, the Ministry of Sustainability and the Environment has designated 2026 as the Year of Climate Adaptation, signaling the increasing importance of strengthening national resilience against physical climate risks. DBS’ focus aligns closely with these ambitions, with a goal to scale up financing and investment for adaptation and resilience purposes.
Partnership to identify climate adaptation opportunities
Against this backdrop, DBS and CBI signed a partnership agreement on the sidelines of Ecosperity 2026, Temasek’s annual flagship sustainability event held at the Sands Expo & Convention Centre. The signing was witnessed by Minister for Sustainability and the Environment as well as Minister-in-charge of Trade Relations, Grace Fu.
Through the collaboration, DBS and CBI will co-develop a flagship research paper on climate adaptation and resilience investment opportunities in Asia-Pacific. The paper aims to identify investable opportunities across key sectors including energy and real estate, supported by CBI’s proprietary assessment methodologies and DBS’ regional insights.
DBS builds internal capacity to embed climate adaptation and climate resilience considerations across its business
In addition, DBS will embark on an internal capacity-building programme to embed adaptation and resilience considerations across its business. This includes foundational and advanced training sessions to equip relationship managers and assessment teams with technical expertise to integrate adaptation and resilience considerations into core banking processes. The programme will also address emerging areas such as avoiding maladaptation risks[2] and monitoring the impact of climate adaptation and resilience investments.
Sean Kidney, CEO of the Climate Bonds Initiative, said: “Financing resilience investment has become critical to avoid derailing economies and increasing default risk. The opportunities for productive investments are enormous. DBS aims to rapidly grow this in the region and we are privileged to have the opportunity to support them.”
Shilpa Gulrajani, Head of Sustainable Finance, Institutional Banking Group, DBS, said: “Unlike mitigation projects, which typically generate clear and predictable cash flows, many adaptation investments are centred on loss avoidance. This makes them inherently more challenging to finance using conventional approaches. Therefore, it is critical to build up capabilities to develop innovative financing solutions to better address this challenge. We look forward to working with CBI to develop practical insights and equip our teams with the capabilities needed to better support clients, drive real economy impact and scale meaningful change across the region.”
Kelvin Wong, Chief Sustainability Officer, DBS, said: “As the effects of physical climate risks grow in scale and frequency, the need to help businesses and communities adapt to better withstand climate shocks is becoming more urgent. This is especially true for Asia which is one of the most climate vulnerable regions in the world. At DBS, we believe the transition to a low-carbon economy must go hand-in-hand with adaptation – and finance can be a lever that accelerates both. Our partnership with CBI will strengthen our ability to identify credible, investable opportunities in climate adaptation and resilience.”
[1] UNEP Adaptation Gap Report 2025
[2] Maladaptation risk refers to climate change adaptation actions that inadvertently increase vulnerability, generate high greenhouse gas emissions, or create long-term "lock-in" effects
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 17 consecutive years from 2009 to 2025.
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 uplifting lives and livelihoods of those in need. It provides essential needs to the underprivileged, and fosters inclusion by equipping the underserved with financial and digital literacy skills. It also nurtures innovative social enterprises that create positive impact.
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.
About Climate Bonds Initiative
Climate Bonds is the leading international non-governmental organisation mobilising global capital for climate action. We drive the growth of the green and sustainable debt market through science-aligned frameworks including our taxonomies and standards, our Certification, our data and insights, and our provision of expert policy and technical advice. More information on our website here.
The partnership comes at a time when economies must urgently adapt and develop more resilient infrastructure to cope with climate change and escalating physical climate risks. This in turn presents a growing need for capital – to the tune of over USD 365 billion a year by 2035[1].
Growing need for capital to finance climate adaptation and climate resilience
Climate adaptation is the process of helping economies, businesses and communities adapt to the physical impact of climate change such as floods, heatwaves and rising sea-levels, while resilience is the ability of these groups to withstand and recover from climate-related shocks. While reducing greenhouse gas emissions remains critical, the intensifying impact of physical climate risks underscores the need to scale financing for adaptation and resilience in parallel.
Adaptation and resilience are rapidly becoming a top priority for governments and Boards alike. In Singapore, the Ministry of Sustainability and the Environment has designated 2026 as the Year of Climate Adaptation, signaling the increasing importance of strengthening national resilience against physical climate risks. DBS’ focus aligns closely with these ambitions, with a goal to scale up financing and investment for adaptation and resilience purposes.
Partnership to identify climate adaptation opportunities
Against this backdrop, DBS and CBI signed a partnership agreement on the sidelines of Ecosperity 2026, Temasek’s annual flagship sustainability event held at the Sands Expo & Convention Centre. The signing was witnessed by Minister for Sustainability and the Environment as well as Minister-in-charge of Trade Relations, Grace Fu.
Through the collaboration, DBS and CBI will co-develop a flagship research paper on climate adaptation and resilience investment opportunities in Asia-Pacific. The paper aims to identify investable opportunities across key sectors including energy and real estate, supported by CBI’s proprietary assessment methodologies and DBS’ regional insights.
DBS builds internal capacity to embed climate adaptation and climate resilience considerations across its business
In addition, DBS will embark on an internal capacity-building programme to embed adaptation and resilience considerations across its business. This includes foundational and advanced training sessions to equip relationship managers and assessment teams with technical expertise to integrate adaptation and resilience considerations into core banking processes. The programme will also address emerging areas such as avoiding maladaptation risks[2] and monitoring the impact of climate adaptation and resilience investments.
Sean Kidney, CEO of the Climate Bonds Initiative, said: “Financing resilience investment has become critical to avoid derailing economies and increasing default risk. The opportunities for productive investments are enormous. DBS aims to rapidly grow this in the region and we are privileged to have the opportunity to support them.”
Shilpa Gulrajani, Head of Sustainable Finance, Institutional Banking Group, DBS, said: “Unlike mitigation projects, which typically generate clear and predictable cash flows, many adaptation investments are centred on loss avoidance. This makes them inherently more challenging to finance using conventional approaches. Therefore, it is critical to build up capabilities to develop innovative financing solutions to better address this challenge. We look forward to working with CBI to develop practical insights and equip our teams with the capabilities needed to better support clients, drive real economy impact and scale meaningful change across the region.”
Kelvin Wong, Chief Sustainability Officer, DBS, said: “As the effects of physical climate risks grow in scale and frequency, the need to help businesses and communities adapt to better withstand climate shocks is becoming more urgent. This is especially true for Asia which is one of the most climate vulnerable regions in the world. At DBS, we believe the transition to a low-carbon economy must go hand-in-hand with adaptation – and finance can be a lever that accelerates both. Our partnership with CBI will strengthen our ability to identify credible, investable opportunities in climate adaptation and resilience.”
[1] UNEP Adaptation Gap Report 2025
[2] Maladaptation risk refers to climate change adaptation actions that inadvertently increase vulnerability, generate high greenhouse gas emissions, or create long-term "lock-in" effects
[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 17 consecutive years from 2009 to 2025.
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 uplifting lives and livelihoods of those in need. It provides essential needs to the underprivileged, and fosters inclusion by equipping the underserved with financial and digital literacy skills. It also nurtures innovative social enterprises that create positive impact.
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.
About Climate Bonds Initiative
Climate Bonds is the leading international non-governmental organisation mobilising global capital for climate action. We drive the growth of the green and sustainable debt market through science-aligned frameworks including our taxonomies and standards, our Certification, our data and insights, and our provision of expert policy and technical advice. More information on our website here.
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Euromoney, Global Finance, The Banker
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