DBS Bank (Hong Kong)
co-Headline Sponsor for the Net Zero & Nature Positive Theatre
DBS is a leading financial services group in Asia with a presence in 19 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank’s “AA-” and “Aa1” credit ratings are among the highest in the world. As a purpose-driven bank, we have been thoughtful around our own sustainability agenda. To pull all these into place, we architected our broader sustainability agenda around three pillars – responsible banking, responsible business practices and impact beyond banking.
To encourage more companies from key industries to transition to a low-carbon economy, we are the first commercial bank to publish a Sustainable and Transition Finance Framework and Taxonomy, which serves as a reference to guide clients to adapt and build resilience in the face of climate change, resource scarcity and address critical global issues such as income inequality. We are also the first bank in Singapore to sign up to the Net-Zero Banking Alliance (NZBA), and the first in Southeast Asia to publish a concrete and comprehensive set of targets for our Scope 3 financed emissions. These targets will guide us on strategically channeling financing away from high-emitting activities towards low-carbon alternatives.
DBS’s sustainability goals for 2023:
- Scaling positive ESG impact through raising our sustainable finance target to SGD50 billion by 2024
- Aligning lending and investment portfolios with net zero emissions by 2050
- Creating infrastructure to enable and empower businesses to achieve their climate impact goals, e.g. Climate Impact X – a carbon exchange and marketplace for high-quality carbon credits.
UN SDG goals that we align with:
- SDG 5 Gender Equality
- SDG 7 Affordable and Clean Energy
- SDG 8 Decent Work and Economic Growth
- SDG 9 Industry, Innovation and Infrastructure
- SDG 12 Responsible Consumption and Production
- SDG 13 Climate Action