DBS makes Dow Jones Sustainability Index (Asia Pacific) for second consecutive year
Bank has also been named to the FTSE4Good Global Index for third year running
Earlier this year, in July, DBS had also been named to the FTSE4Good Global Index for the third year running, having been the first Singapore bank to be included as an index constituent of the FTSE4Good Global Index in 2017. The index is designed to identify companies that demonstrate strong environmental, social and governance practices measured against globally recognised standards.
Said Mikkel Larsen, Chief Sustainability Officer at DBS, “Sustainability permeates all our practices at DBS. Whether it is through our banking business, business operations or the DBS Foundation, we recognise our purpose as a leading bank in Asia to create long-term economic, social and environmental value. Being named to two globally renowned indices – the DJSI Asia Pacific and FTSE4Good Global Index – yet again is a great honour and reflects our determination to build a more sustainable and inclusive world for future generations.”
Said Manjit Jus, Head of ESG Ratings, RobecoSAM: “We congratulate DBS for being included in the DJSI Asia Pacific. The SAM Corporate Sustainability Assessment (SAM CSA) has again raised the bar in identifying those companies best-positioned to address future sustainability challenges and opportunities. This year – which marks the 20th anniversary of the DJSI – record corporate interest in the SAM CSA reflects the enduring relevance of the DJSI for measuring and advancing ESG practices."
Over the years, DBS has been focused on advancing the sustainability agenda with an approach based on three pillars: responsible banking, responsible business practices and creating social impact.
In the area of responsible financing, DBS provided sustainability financing comprising green loans, sustainability performance-linked loans and renewable energy financing that amounted to more than SGD 2.4 billion in 2018. This year, new milestones for sustainability-linked loans were also established across the region:
- Inked Singapore’s first sustainability-linked loan for an SME with leading egg producer Chew’s Agriculture [1]
- Signed first-of-its-kind SDG Innovation Loan with City Developments Limited to accelerate innovative solutions that have a positive impact on SDGs[2], and
- Signed Taiwan’s first sustainability-linked loan with AU Optronics. The loan is also the first of its kind for an IT company in Asia Pacific [3].
Responsible banking practices encompass the bank’s commitment to include environmental and societal considerations in its day-to-day business operations. These include practices to minimise its environmental footprint, as well as support employees by embracing gender diversity and providing equal opportunity.
On the social impact front, DBS recently launched the second season of its award-winning mini-series Sparks to shed light on some of the most pressing social and environmental issues of the day. The episodes were inspired by the stories of social enterprises supported by DBS Foundation, which has nurtured over 300 social enterprises and awarded over 100 social enterprises in Asia with more than SGD 4.7 million in grant funding.
This year, DBS and Singapore Management University (SMU) established the DBS-SMU Sustainability Initiative, a three-year partnership to promote sustainability in the region. This includes the introduction of Singapore’s first sustainability major, scholarships, fellowships, and internships with social enterprises backed by DBS Foundation. More recently, the bank also launched the inaugural DBS Foundation Social Impact Prize, a new category in the biennial Lee Kuan Yew Global Business Plan Competition. The prize aims to identify sustainable, scalable and enterprising business solutions from across the world that help address crucial social problems and make cities of the future more inclusive, healthier and greener.
[1] https://www.dbs.com/newsroom/Chews_Agriculture_signs_Singapores_first_SME_sustainability_linked_loan_with_DBS
[2] https://www.dbs.com/newsroom/CDl_and_DBS_set_benchmark_on_innovation_focused_financing_for_sustainable_development
[3] https://www.dbs.com/newsroom/DBS_Bank_and_AU_Optronics_sign_Taiwans_first_sustainability_linked_loan
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About DBS
DBS is a leading financial services group in Asia with a presence in 18 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 Euromoney, “Global Bank of the Year” by The Banker and “Best Bank in the World” by Global Finance. 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. In addition, DBS has been accorded the “Safest Bank in Asia” award by Global Finance for ten consecutive years from 2009 to 2018.
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, and positively impacting communities through supporting social enterprises, as it banks the Asian way. It has also established a SGD 50 million foundation to strengthen its corporate social responsibility efforts in Singapore and across Asia.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. The bank acknowledges the passion, commitment and can-do spirit in all of our 27,000 staff, representing over 40 nationalities. For more information, please visit www.dbs.com.
