Asia's best bank for corporate responsibility 2020: DBS
Awards for Excellence 2020
It is hard to find a bank with greater integrity than DBS. Its commitment to responsible banking, sustainable finance, running a responsible business and creating social impact are obvious; and this year it wins the award for Asia’s best bank for corporate responsibility.
Last year, the bank announced that it will cease financing new coal-fired power plants in any market. In recent months the bank has piloted a set of rules to ensure any deal or service is labelled correctly.
Under chief sustainability officer Mikkel Larsen, DBS has also worked with the Impact Institute in Amsterdam on the social and natural capital impacts of the palm oil and electric vehicle industries to better understand how it should finance these sectors.
DBS continues to work on ground-breaking deals, including last year’s sustainability-linked loan for egg producer Chew’s Agriculture – a first-of-its-kind deal that enabled the SME to finance a new farm with cage-free facilities. Under the terms of the loan, Chew’s will be charged lower interest rates if it is certified by the Humane Farm Animal Care body, a US-based nonprofit.