Deutsche Bank announced today the launch of its new ESG Centre of Excellence (COE) in Singapore, focused on ESG transactions, new product development and advisory services in the growing Asian ESG market.

Deutsche Bank Head of ESG for Asia Pacific Kamran Khan said:

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“The transition of Asia towards sustainable practices requires ESG transaction models, products, solutions and regulatory measures which meet international standards while supporting on-the-ground realities in Asia. By establishing this ESG Centre of Excellence in Singapore, we aim to set standards for evidence-based, data-driven transactions which can substantiate ESG impact and support sustainable growth.”

According to Deutsche Bank, the new ESG CEO will house a sizable team with deep ESG expertise, primarily focused on ESG transactions across all business divisions, including Investment Bank, Corporate Bank, International Private Bank and Asset Management (DWS). The COE will also partner with academic institutions on a leadership lecture series, and provide fellowship ESG programs for MBA and ESG internship programs for undergraduate students. Deutsche Bank’s ESG CEO will partner with research institutions and global think tanks on ESG research, and host ESG Policy Seminars for sovereign & sub-sovereign governments.

The bank stated that the new Center will also focus on innovation at the nexus of ESG and Fintech to develop new products addressing gaps in the ESG market, including impact monitoring, data management and payments to un-banked communities. 

Deutsche Bank Asia Pacific CEO Alexander von zur Muehlen added:

“Establishing the ESG Centre of Excellence in Singapore provides a strategic and operational platform for Deutsche Bank to become the premier client-focused ESG bank in Asia Pacific. Our investment in building world-class in-house ESG expertise, complemented by our well-known structuring and placement capabilities, is delivering exponential growth in our ESG business.”  

Singapore has emerged as a hub for companies looking to capitalize on the growing ESG opportunities in the Asian market. Last month, Moody’s Corporation announced a series of initiatives to expand its Singapore office aiming to spearhead ESG, following the establishment of its own ESG Solutions Group office in Singapore in February. In November 2020, consultancy Bain & Company announced the launch of its new Singapore-based Global Sustainability Innovation Center, aiming to help the firm’s corporate clients pursue the opportunities arising from the economic and societal potential of the green economy.

Commenting on the new ESG COE, Monetary Authority of Singapore (MAS) Assistant Managing Director (Development and International) Gillian Tan said:

“MAS strongly supports the establishment of Deutsche Bank’s Asia Pacific ESG Centre of Excellence in Singapore. It is a welcome addition to Singapore’s growing sustainability and green finance ecosystem. The Centre of Excellence will leverage innovation to accelerate Asia’s transition to a sustainable future. The COE’s goal to facilitate industry knowledge transfer will help to deepen the pool of specialized talent and capabilities in Singapore.”