Partnering for Asia's Transition

Read how DBS is Making Greater Impact in our Sustainability Report 2024

Sustainability Commitments and Memberships

We are better able to drive credible action when we play a meaningful role in the global sustainability community.

Our commitments and memberships allow us to access breakthrough ideas and be apprised of the latest solutions.

Supporting the Transition

Net-Zero Banking Alliance (NZBA)

In 2021 we became the first Singapore bank, to become a signatory on the United Nations-convened NZBA.

As part of our commitment, we conduct annual reporting on our performance against our decarbonisation targets in accordance with NZBA guidelines.

Disclosure and Transparancy

Monetary Authority of Singapore’s Green Finance Industry Taskforce (GFIT)

DBS was the co-chair in the disclosure workstream of the MAS-convened GFIT. The taskforce aims to (i) develop a taxonomy; (ii) improve disclosures; (iii) foster green finance solutions; and (iv) enhance environmental risk management practices of financial institutions.

GRI Technical Committee

DBS sits on the global GRI Technical Committee and supports the development of the banking standard, which will be one of three standards (banking, insurance and capital markets) developed for the financial services sector. DBS is the sole representative from Asia Pacific.

Sustainability Reporting Advisory Committee (SRAC)

DBS is a member of the SRAC, which was jointly set up by Singapore’s Accounting and Corporate Regulatory Authority (ACRA) and the Singapore Exchange Regulation (SGX RegCo). The committee advises on a sustainability reporting roadmap for Singapore-incorporated companies.

Task Force on Climate-related Financial Disclosures (TCFD)

A global initiative developing voluntary, consistent climate-related financial risk disclosures to provide information for stakeholders.

DBS reports in line with the recommendations by the task force.

Task Force on Nature-related Financial Disclosures (TNFD) Forum

A global initiative delivering a risk management and disclosure framework for organisations to report and act on nature-related risks.

DBS is a member of the TNFD Forum.

Sustainability Risk Management

Equator Principles (EP)

A risk management framework adopted by financial institutions on environmental and social risks in project financing.

DBS signed up to the principles in 2019.

Green Investment Principles for the Belt and Road (GIP)

DBS has adopted the voluntary principles to promote green investment in projects in the Belt and Road countries.

Sustainable Development

China Green Finance Committee

The GFC was established in 2015, under the guidance and support of the People’s Bank of China. The GFC and its members support policy research and facilitate international cooperation on green finance. DBS Bank China joined the GFC as an official member in 2022.

Glasgow Financial Alliance for Net Zero (GFANZ)

DBS co-led a workstream as part of the GFANZ guidance paper on ‘Financing the Managed Phaseout of Coal-Fired Power Plants in Asia Pacific’.

Green Skills Committee, convened by the Ministry of Trade and Industry (MTI)

DBS is a member of the Green Skills Committee (GSC), which is convened by the Ministry of Trade and Industry (MTI). The GSC aims to support the development of skills in line with evolving industry needs, as Singapore moves towards a sustainable, lower-carbon economy.

Monetary Authority of Singapore (MAS)

DBS actively participated in several MAS projects and working groups, such as on managed coal phase out. We have committed to being a partner in the MAS-convened project, the Transition Credits Coalition (TRACTION). The project aims to explore the creation of credible, high-integrity transition credits to support the managed and early phase out of coal power plants.

World Business Council for Sustainable Development (WBC SD)

A global, CEO-led organisation working to accelerate the transition to a sustainable world.

DBS is a participant and observer in a number of project groups. Our CEO, Mr. Piyush Gupta, was elected to the Executive Committee in 2020, and is the vice-chair of WBCSD appointed as of October 2021.

Digital-related

Green Digital Finance Alliance (GDFA)

The GDFA was launched by the United Nations Environment Programme (UNEP) and Ant Group to enable the sustainable transition worldwide.

Our CEO, Mr. Piyush Gupta, is part of the Advisory Board.

IMDA Advisory Council on Ethical Use of Artificial Intelligence and Data

The Advisory Council supports the development of Singapore’s AI ecosystem through engaging various stakeholders on issues such as ethical considerations and consumer expectations surrounding the use of AI.

Our CEO, Mr. Piyush Gupta, is a council member.

Monetary Authority of Singapore’s Project Greenprint

DBS is an active participant in the MAS-led initiative to enhance the ESG data ecosystem within Singapore with the aim of creating a national ESG data utility for SMEs. In 2023, MAS launched Gprint (pronounced “Greenprint”), an integrated digital platform that harnesses technology to simplify how the financial sector and real economy collect, access and act upon environmental, social and governance (ESG) data to support their sustainability initiatives.