The Board has overall responsibility for sustainability and considers environmental, social and governance (ESG) matters in the formulation of our strategy. ESG matters that are material to value creation are integrated into our balanced scorecard which is used to set objectives, drive behaviours, measure performance and determine remuneration of our people. The scoreboard is updated yearly and approved by the Board.
The Board delegates the execution of DBS’ strategy to the CEO, who heads the Group Executive Committee and is responsible for managing DBS’ day-to-day operations.
The DBS Sustainability Council, chaired by the Chief Sustainability Officer and compromising senior leaders across business and support units, reports to the CEO. It is responsible for developing DBS’ overarching sustainability framework, setting key performance indicators (KPIs) and targets in consultation with the relevant stakeholders, and driving sustainability initiatives across the bank. The Council also advises the CEO on material ESG matters which contributes to DBS’ overall materiality assessment. This in turn informs the Board’s strategic planning. The council meets monthly and provide periodic updates to the CEO, Group Management Committee and the Board.