DBS won big at the 18th SIAS Investors’ Choice Awards, picking up four awards including the Sustainability Award, a new category this year. The bank emerged the winner in the Singapore Corporate Governance Award Financials category, and is runner-up in the big caps category. DBS Vickers was also a runner up in the Best Retail Broker category.
DBS has continually sought to be at the forefront of corporate governance. For example, the Board has adopted a diversity policy, recognising the importance of having an appropriate balance of industry knowledge, skills, experience, professional qualifications, gender and nationalities to build an effective and cohesive board. In particular, the Board has set an objective of having female representation.
The bank has a disclosure policy to ensure that all disclosures of material information are timely, correct and accurate. To ensure that DBS is on the forefront of corporate transparency, the bank was the first Singapore bank and listed Southeast Asian company to embark on Integrated Reporting since 2012.
On the sustainability front, DBS was one of eight recipients of the Sustainability Award. Winners of this category were recognised for their leadership in driving sustainable practices and reporting in their respective industries. SIAS, together with NUS School of Business, Centre of Governance, Institutions & Organisations and Thomson Reuters had come together to develop an evaluation criteria that focuses on companies’ good sustainability practices which culminates in shareholders’ interests. DBS is the first Singapore bank to adopt the Global Reporting Initiative (GRI) G4 Sustainability Reporting Guidelines since its 2015 annual report.
Last month, DBS became the first Singapore bank to be included as an index constituent of the FTSE4Good Global Index, comprising more than 800 global companies who have demonstrated good ESG (Environmental, Social and Governance) practices. DBS was the first bank in Singapore to issue a green bond to support the financing of green assets, and played an instrumental role in bringing to market the Women’s Livelihood Bond – the world’s first listed social sustainability bond.
DBS also recently announced it has joined RE100, a global renewable energy campaign by The Climate Group and CDP, bringing together influential global businesses committed to using 100% renewable energy to power their operations. DBS, the first Asian bank and Singapore company to join this movement, has committed to powering 100% of its Singapore operations with renewable energy by 2030.