Building a strong and reliable supply chain is fundamental to sustainable operations, which is one of the key components of DBS’ overall sustainability framework. Sustainable procurement practices will help businesses to reduce waste, contribute to decent working conditions and enable economic growth.
We recognise that the actions of our suppliers contribute to the bank’s sustainability performance and that we can influence and partner with them for mutual improvements. As a leading financial services group in Asia with a presence in 18 markets, we purchase a diverse range of products and services with the bulk being professional services, software, real estate and corporate services. Engaging with our suppliers may also carry financial, legal and reputation risks. As such, we are cognisant that when we make procurement decisions, we must also consider environmental and social matters alongside financial factors.
Read about DBS Sustainable Sourcing Principles
If you are an established supplier that would like to partner DBS for a project or thought leadership, please contact us.
Find out more on how DBS partners DHL for sustainable innovation
Find out more on how DBS partners SP Group for sustainable innovation
We believe in growing together with our suppliers, especially with regards to our sustainability journey. In 2020, we started an initiative to train our existing suppliers on sustainable operations and we plan to expand this training programme in 2021.
There are various other ways which we work with suppliers to develop their capabilities such as pilot projects, volunteering or grants.
Find out how DBS provide skills volunteering opportunity, e.g. Procurement Clinic
Find out more about grants from DBS Foundation
We incorporated circular procurement practices in our supply chain and trained our sourcing managers to work with suppliers in the responsible management of materials and conservation of resources. Our intention is to keep resources in use for as long as possible.
In 2020, we embedded circularity in our procurement process and balanced scorecard through a points system. The system helps drive the right behaviours by rewarding the sourcing teams based on projects’ complexity and the impact created in delivering more sustainable outcomes.
We believe that the aggregated outcomes of circular procurement have the potential to catalyse systemic changes across entire industries when implemented at scale. That is why we have collaborated with the National Sustainable Procurement Roundtable (NSPR) to produce a Circular Procurement Playbook based on our own implementation experience. The Playbook is aimed at helping others implement circular procurement in their respective organisations.
Awareness and Networking
DBS believes that working together is key to building a better world.
DBS organises internal and industry procurement events from time to time. Please contact us if you are interested in a speaking opportunity for upcoming events.
National Sustainable Procurement Roundtable
DBS is a founding member of the National Sustainable Procurement Roundtable. This is an industry-led workgroup that promotes sustainable procurement. The NSPR projects led by DBS includes
- SG Sustainable Procurement Forum
- Circular Procurement Playbook
- Sustainable Gifts and Premiums