Building a strong and reliable supply chain is fundamental to sustainable operations.
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 19 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.
Central to our approach is the DBS Sustainable Sourcing Principles, which outlines the expectations that we have of our suppliers in four key areas: (1) human rights, (2) health and safety, (3) environmental sustainability as well as (4) business integrity and ethics.
We actively work with our suppliers and other industry leaders on sustainable procurement. The following are some of our initiatives:
Sustainable procurement practices will help businesses to reduce waste, contribute to decent working conditions and enable economic growth.
Restorative procurement practices
We incorporate a broad spectrum of sustainability aspects into our procurement practices through our Restorative Procurement framework, which includes various sustainability aspects - circularity, carbon, biodiversity, and the broader social agenda.
National Sustainable Procurement Roundtable (NSPR)
DBS is one of the four founding members of Singapore’s first industry workgroup promoting sustainable procurement, with the aim of building an innovative and sustainable supply chain that efficiently meets sustainability objectives.