DBS wants to power all of its operations in Singapore with renewable energy by 2030. To achieve its promise for its local operations, the bank intends to install solar panels.
DBS' green power commitment comes as the bank joins RE100, a global renewable energy campaign led by The Climate Group in partnership with CDP, that brings together influential global businesses committed to using only renewable energy to power their operations.
The banks plans to install solar panels at its office building in Changi Business Park and procure Renewable Energy Certificates (RECs) from solar energy companies in Singapore the bank said in a media release.
In a Leadership Role
DBS was the first bank in Singapore to issue a green bond to support the financing of green assets. Last month, DBS became the first Singapore bank to be included as an index constituent of the FTSE4Good Global Index, comprising more than 800 global companies who have demonstrated good ESG (Environmental, Social and Governance) practices.
«As Southeast Asia’s largest bank, DBS recognises the leadership role it can play in this transition and we believe that ensuring our own operations across the region are powered from 100 percent renewable sources makes sense, and besides, it’s the right thing to do,» said Mike Power, Co-Chair of DBS’ Sustainability Council.
