The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookiesbefore using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.

DBS sets carbon targets for clients as well as itself

The Singaporean bank has launched sector-specific decarbonization commitments it says are industry-leading. For them to be achieved, the bank’s corporate client base is going to need to make changes, too.

Piyush-Gupta-thinking-crrdit DBS-960.jpg
Piyush Gupta, chief executive of DBS. Photo: DBS Bank

DBS has launched a set of decarbonization targets covering not only the bank but its own client base in what it says is among the most comprehensive set of commitments by any bank worldwide.

DBS says the idea is to provide an actionable plan to get to net zero emissions, following the bank becoming a signatory of the Net-Zero Banking Alliance in October 2021. Delivering upon that plan is going to require a redirection of the bank’s financing towards less carbon-intensive industries – an ambition long underway – but also persuading clients to change too.

“It is our responsibility to reduce GHG [greenhouse gas] emissions from our own operations and, more importantly, to engage with our clients to reduce their GHG footprint through the activities we finance,” the bank says.

Across seven high-emission industry sectors, between them representing 31% of DBS’s outstanding loans but accounting for the majority of the institutional bank group’s financed emissions, the bank has set specific targets either for outright emissions (in oil and gas), or intensity of emissions.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree