DBS establishes Board Sustainability Committee
It will be chaired by CEO Piyush Gupta and will consist of DBS board members.
DBS has established a Board Sustainability Committee (BSC), reportedly the first by a Singapore bank.
The BSC will provide DBS with added governance and oversight of material environmental, social and governance (ESG) matters, particularly DBS’ strategies, goals, and targets in relation to its sustainability pillars—namely, responsible banking, responsible business practices, and creating impact beyond banking.
The committee is also in charge of oversight of the bank’s sustainable development goals: climate-related matters; sustainability disclosures; stakeholder engagement; and governance on sustainability matters.
It will be chaired by DBS CEO Piyush Gupta and will consist of current DBS board members Chng Kai Fong, Judy Lee, and Tham Sai Choy.
Previously, DBS’ Board Exco had oversight of sustainability matters.
DBS was the first Singapore bank to commit to zero thermal coal exposure by 2039. It is also the first Singapore bank to join the United Nations-convened Net-Zero Banking Alliance in 2021.
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