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DBS makes it again to Dow Jones Sustainability Index

Sep 20, 2019

The bank has been included in the index for the second consecutive year.

Mumbai: DBS is the only bank in Southeast Asia and one of five Singapore-listed companies to be included in the Dow Jones Sustainability Index (DJSI) Asia Pacific 2019 for the second consecutive year. Designed to measure the performance of the region’s leading organisations in terms of economic, environmental and social criteria, the DJSI Asia Pacific serves as a reliable and credible benchmark for investors who integrate sustainability considerations into their portfolios.

Earlier this year, in July, DBS had also been named to the FTSE4Good Global Index for the third year running, having been the first Singapore bank to be included as an index constituent of the FTSE4Good Global Index in 2017. The index is designed to identify companies that demonstrate strong environmental, social and governance practices measured against globally recognised standards.

Said Mikkel Larsen, Chief Sustainability Officer at DBS, “Sustainability permeates all our practices at DBS. Whether it is through our banking business, business operations or the DBS Foundation, we recognise our purpose as a leading bank in Asia to create long-term economic, social and environmental value. Being named to two globally renowned indices – the DJSI Asia Pacific and FTSE4Good Global Index – yet again is a great honour and reflects our determination to build a more sustainable and inclusive world for future generations.”

Said Manjit Jus, Head of ESG Ratings, RobecoSAM: “We congratulate DBS for being included in the DJSI Asia Pacific. The SAM Corporate Sustainability Assessment (SAM CSA) has again raised the bar in identifying those companies best-positioned to address future sustainability challenges and opportunities. This year – which marks the 20th anniversary of the DJSI – record corporate interest in the SAM CSA reflects the enduring relevance of the DJSI for measuring and advancing ESG practices."

Over the years, DBS has been focused on advancing the sustainability agenda with an approach based on three pillars: responsible banking, responsible business practices and creating social impact.

In the area of responsible financing, DBS provided sustainability financing comprising green loans, sustainability performance-linked loans and renewable energy financing that amounted to more than SGD 2.4 billion in 2018. The bank is committed to promote an orderly transition to a low-carbon economy, while balancing the need for economic growth and social inclusion.

Responsible banking practices encompass the bank’s commitment to include environmental and societal considerations in its day-to-day business operations. These include practices to minimise its environmental footprint, as well as support employees by embracing gender diversity and providing equal opportunity.

On the social impact front, DBS Bank India recently announced its partnership with Social Alpha (a technology business incubator supported by Tata Trusts). The DBS-Social Alpha Social Entrepreneurship program aims to support the growth of social enterprises and champion innovators through business mentoring and seed capital. Earlier, DBS had partnered with a leading social sciences academic institution from 2012-2017 in India, to provide crucial monetary and non-monetary support to over 40 budding social entrepreneurs.

Globally, DBS Foundation has nurtured over 300 social enterprises since 2014, awarding more than SGD 4.7 million in grant funding to over 100 social enterprises in Singapore, China, Hong Kong, India, Indonesia and Taiwan. This month, the bank also launched the inaugural DBS Foundation Social Impact Prize, a new category in the biennial Lee Kuan Yew Global Business Plan Competition. The prize aims to identify sustainable, scalable and enterprising business solutions from across the world that help address crucial social problems and make cities of the future more inclusive, healthier and greener.

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