The attention on India comes due to DBS’ increasing presence in the country. The collaboration aims to accelerate the adoption of energy optimisation and sustainable solutions across energy intensive segments including healthcare, hospitality, as well as commercial and industrial real estate, said the company.
The action comes after the recently concluded Business 20 (B20) dialogue in New Delhi, which focused on enabling Responsible, Accelerated, Innovative, Sustainable and Equitable (RAISE) businesses to drive sustainable economic growth and development.
India is among DBS’ six core markets, and one of the bank’s top three markets for sustainable finance. The country’s rapid rate of urbanisation is expected to have a key impact on its energy usage and global energy trends.
“Businesses are keenly aware of the vital role they play in achieving a net-zero future. To decarbonise at scale, companies need the know-how, as well as access to sustainable solutions and financing. DBS is committed to helping our clients transition to a low-carbon future. By building strong partnerships with leaders like Keppel, we can simplify the journey for clients by providing a suite of solutions, coupled with the appropriate financing, to drive collective action for sustainability,” said Piyush Gupta, CEO of DBS Bank. According to the company’s statement, the MOU involves offering digitalisation solutions to DBS’ corporate customers. Through Keppel’s subsidiary, M1, the collaboration will explore ways to enhance and support the digitalisation journey of businesses in Singapore. The partnership also includes an e-waste recycling initiative through AsiaPac, a subsidiary of M1, where DBS customers can trade in laptops.“As a global asset manager with deep operating capabilities across infrastructure, real estate and connectivity, Keppel is pleased to partner DBS to address some of the most pressing needs faced by companies in Asia. The MOU provides a platform for Keppel and DBS to deepen collaboration and develop solutions to help companies be more sustainable, digitalised and ultimately, more competitive in an increasingly complex operating environment,” said Loh Chin Hua, CEO of Keppel Corporation.
