DBS is playing its part – They are 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 channelling financing away from high-emitting activities towards low-carbon alternatives.
Decarbonisation targets have been set for seven sectors: 1) Power, 2) Oil & Gas, 3) Automotive, 4) Aviation, 5) Shipping, 6) Steel, and 7) Real Estate. Data coverage targets have also been set for two sectors 1) Food & Agribusiness and 2) Chemicals, paving the way for future emission reduction targets. The seven decarbonisation targets were developed based on internationally recognised and industry-accepted glidepaths such as The International Energy Agency’s Net Zero Emissions by 2050 Scenario.
Read more Click here: https://www.dbs.com.sg/corporate/sustainability/our-path-to-net-zero.
For full DBS Pathway to Net Zero Executive Report Summary supported by PBEC Corporate Member Oliver Wyman click Here