Singapore’s DBS becomes the primary bank in Southeast Asia to adopt a responsible finance framework
DBS, Southeast Asia’s largest banking group, announced on Monday that it has adopted the Equator Principles (EP), a framework for responsible financing of infrastructure projects.
This will enable large infrastructure projects it funds to be tested against environmental and social standards, it says Singapore Business Review.
“We are proud to be the first bank in Singapore and Southeast Asia to be a signatory to the Equator Principles. The principles stand out in that they focus exclusively on avoiding and mitigating the impacts arising from asset-level financing,” said Tan Su Shan, head of the institutional banking group at DBS.
A Temask-linked bank joins the list 101 financial institutions from 38 countries that joined the EP.
Tan Su Shan, head of the institutional banking group at DBS, said the bank believes the region “will see significant infrastructure development over the following few years and financing will play a key role.”
“In this case, we recognize the importance of incorporating environmental and social aspects into our lending decisions and managing our business in a sustainable and responsible manner, contributing to a more sustainable future,” Tan told Eko-biznes.com.
According to IBS intelligence, In the responsible finance space, the bank is anticipated to finish over A$4 billion in sustainable finance transactions this 12 months, spanning green loans, sustainability performance-linked loans and renewable energy financing.
