Singapore-based financial services group DBS announced today the launch of a Board Sustainability Committee (BSC) to provide added governance and oversee the bank’s sustainability agenda. According to DBS, the BSC is the first of its kind by a Singapore bank.
The new committee is chaired by DBS CEO Piyush Gupta, and its members include current DBS board members Chng Kai Fong, Judy Lee, and Tham Sai Choy.
The bank outlined some of the material ESG matters that the BSC will oversee, including DBS’ strategies and targets related to its sustainability pillars – responsible banking, responsible business practices, and creating impact beyond banking, as well as sustainable development goals, climate-related matters, sustainability disclosures, stakeholder engagement and governance on sustainability matters.
DBS CEO Piyush Gupta said:
“DBS takes our role in building a sustainable future very seriously. That is why our commitments to driving the transition to a net-zero world were made only after we had some line of sight towards a viable course of action that is constructive and impactful. This included first establishing a clear handle on our financed emissions, mapping out viable transition pathways for different industry sectors, and developing a taxonomy that guides conversations with customers in their transition. In line with these efforts, it was timely to establish a Board Sustainability Committee to oversee the complex and extensive work being done as we further weave ESG into the fabric of our business.”