We partnered apparel giant H&M Group to develop a first-of-its-kind collaborative finance tool to accelerate supply chain decarbonisation in the apparel sector. Under the programme, suppliers gain direct access to financing from DBS and technical support from sustainability consultant, Guidehouse, to make factory upgrades involving low-carbon technologies.

DBS became the first bank in Hong Kong to offer SMEs banking service privileges and subsidies for the purchase of renewable energy certificates from local utility provider CLP Power Hong Kong Limited, with the aim of helping to drive a low-carbon future.

We continued to help more clients do good while doing well by raising the bar on ESG investing. Currently, more than 50% of our private bank clients’ investment assets are made up of “sustainable investments” (MSCI BBB-rating).

We committed up to SGD 1 billion over the next 10 years to improve the lives and livelihoods of the low-income and underprivileged, fostering a more inclusive society. Our workforce will also contribute 1.5 million volunteer hours over the decade to this cause. This is a significant step-up in our efforts to make an enduring and meaningful difference to those in need.

To help our customers stretch their dollar, DBS subsidised 4.67 million hawker meals as at end December 2023. The bank provided a subsidy of up to SGD 3 for 100,000 hawker meals each Friday, easing cost-of living pressures for many low-income individuals and boosting hawker earnings. We have extended the initiative to July 2024, subsidising a total of 7.5 million meals over 18 months.

Through a strategic partnership between DBS Foundation and Infocomm Development Authority of Singapore, we ran about 400 digital and financial literacy workshops, and helped more than 59,000 Singaporeans and residents to embrace digital learning.