DBS boosts sustainable financing to $89b in 2024

Customers invested over S$42m in sustainable funds.

DBS' sustainable financing commitments as of end-2024 saw US$66.75b (S$89b), up 27.1% up 27.1% from a year ago, its latest sustainability report showed.

It also facilitated US$28.5b (S$38b) in sustainable bond issuances.

The bank expanded its sustainability efforts for SMEs, launched the ESG Ready Programme in Singapore, and strengthened ESG risk management by training staff and leveraging artificial intelligence (AI) for data analytics.

Its consumer banking initiatives encouraged sustainable investment, with customers investing over US$31.5m (S$42m) in sustainable funds and contributing US$2.025m (S$2.7m) to social causes.

DBS also provided over US$750m (S$1b) in loans to low-income individuals in Indonesia and US$2.55b (S$3.4b) in Priority Sector Lending in India.

DBS recorded a 91% employee engagement score, exceeding industry benchmarks, and enhanced its AI governance with an expanded Responsible Data Use Framework.

Its DBS Foundation committed US$73.575m (S$98.1m) to long-term programmes supporting essential needs and inclusion, whilst employees volunteered over 270,000 hours.

Initiatives like the DBS Hawker Meals programme and POSB Support Our Heartlands provided over US$10.5m (S$14m) in subsidies to ease cost-of-living pressures.

DBS stated that it remains committed to driving sustainable outcomes in Asia, ensuring a just transition to net zero whilst balancing social, economic, and environmental priorities.