Sustainability at DBS

While there are many environmental challenges ahead, we have chosen to prioritise action on climate change given the urgency and how it is interrelated with other environmental and societal concerns.

Our commitments to a more sustainable future are wide-ranging. They encompass the way we do business, sustainable practices in our operations, as well as our role in the communities we are a part of.

Net Zero

Commitment as the first Singapore bank to sign up to the Net-Zero Banking Alliance (NZBA) to realise a net zero future by 2050 or sooner.

Carbon neutral in our own operations

Achieved Carbon Neutrality at the end of 2022 in our own operations.

SGD 100 million

Additional funding of SGD 100 million to further improve lives in Asia.

Our progress to date

  1. Announced our support for the TCFD

    Developed our Green Bond framework in accordance with The Green Bond Principles and issued our inaugural green bond

    Developed our Group Responsible Financing Standard, outlining the ESG requirements for corporate financing

    Became a signatory to RE100, the global renewable energy initiative

  2. Issued our first standalone sustainability report including climate-related disclosures according to the TCFD recommendations

    Ceased financing new thermal coal mining projects

  3. Adopted the Equator Principles as part of our efforts to promote responsible financing

  4. Published our Sustainable and Transition Finance Framework and Taxonomy that forms the bedrock for DBS to engage with clients who are furthering their sustainability and climate agenda

  5. Announced our sustainable financing target to SGD 50 billion by 2024

    Committed to phase out thermal coal exposure completely by 2039

    Set up Climate Impact X, a Singapore-based global carbon exchange and marketplace

    Actively reducing carbon footprint in our own operations to net zero by 2022

    Joined the Net-Zero Banking Alliance to commit to net zero by 2050 or sooner

  6. Achieved carbon neutrality in our own operations

    Committed SGD 61 billion in sustainable financing loans

    Established Human Rights and Diversity, Equity & Inclusion policy

    New Community Impact Chapter established under DBS Foundation

2017

Announced our support for the TCFD

Developed the Green Bond framework in accordance with The Green Bond Principles and issued our inaugural green bond

Developed our Group Responsible Financing Standard, outlining the ESG requirements for corporate financing

Became a signatory to RE100, the global renewable energy initiative

2018

Issued our first standalone sustainability report including climate-related disclosures according to the TCFD recommendations

2019

Adopted the Equator Principles as part of our efforts to promote responsible financing

2020

Published our Sustainable and Transition Finance Framework and Taxonomy that forms the bedrock for DBS to engage with clients who are furthering their sustainability and climate agenda

2021

Announced our sustainable financing target to SGD 50 billion by 2024

Committed to phase out thermal coal exposure completely by 2039

Established a Climate Steering Committee to further strengthen our climate risk management

Integrated ESG into our risk management framework by developing quantitative models to assess climate-related risks

Set up Climate Impact X, a Singapore-based global carbon exchange and marketplace

Actively reducing carbon footprint in our own operations to net zero by 2022

Joined the Taskforce on Nature-related Financial Disclosures (TNFD) Forum

Joined the Net-Zero Banking Alliance to commit to net zero by 2050 or sooner

Our Path to Net Zero

Addressing climate change requires collective efforts.

To cement our net zero commitment we have established the very first set of targets for our Scope 3 financed emissions attributable to us as a bank. These targets will guide us on strategically channelling financing away from high-emitting activities towards low-carbon alternatives.

They also represent one of the most comprehensive sets of targets in the global banking industry thus far.

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Our Solutions

Enabling our customers and stakeholders to take sustainable action has been at the front and centre of our innovative solutions.

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Corporate Solutions

No matter your company’s size, find a financing solution that can steer your business and its impact in the right direction.

Sustainable Investing

Make influential investments that strengthen support for businesses and portfolios reaching for a greener future.

Green Solutions for Consumers

Each of us can take action to impact change. We have solutions to empower you to live sustainably every day.

highlights

Impact Beyond Banking

Together, we can create impact, improve lives and enable change.

To further address social and environmental issues, we have committed an additional SGD 100 million in 2022 to further our efforts in improving lives in Asia. The funds will go towards catalysing the work of the DBS Foundation, as well as the bank’s various philanthropic and crisis relief measures.

DBS Foundation is focused on creating impact and improving lives through championing social entrepreneurship and preparing communities for the future.

Business for Impact chapter

Through its Business for Impact chapter, DBS Foundation focuses on championing businesses and social enterprises with a triple bottom line.

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Community Impact chapter

DBS Foundation expanded its scope with a new chapter to prepare communities for the future by equipping them with future-ready skills such as digital & financial literacy and mental resilience, as well as reducing food waste towards a more food secure future.

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Awards and Recognition

FTSE4Good

Global Index

2017 - 2022

S&P Sustainability Yearbook

Bronze Member

2021 – 2022

Euromoney

Best Bank for Corporate Responsibility

2023

Global Finance

Outstanding Leadership in Green Bonds

2022

IJGlobal

ESG Excellence Award, Asia-Pacific

2022