Addressing climate change requires collective efforts. DBS is playing our part in helping to combat climate change as the first bank in Singapore to sign up to the Net-Zero Banking Alliance (NZBA). We are also the first in Southeast Asia to publish a set of targets for our Scope 3 financed emissions attributable to us as a bank – one of the most comprehensive set of targets in the global banking industry thus far.
Decarbonisation targets have been set for seven sectors: 1) Power, 2) Oil & Gas, 3) Automotive, 4) Aviation, 5) Shipping, 6) Steel, and 7) Real Estate. Data coverage targets have also been set for two sectors: 1) Food & Agribusiness and 2) Chemicals, paving the way for future emission reduction targets.
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