Reducing emissions can be daunting for sectors with particularly complex supply chains .
Many corporates face mounting pressure to measure and reduce emissions particularly in Scope 3 as sustainability expectations rise in both Western and Asian markets .
Terence says : “ Firstly , we believe in providing sector-based assessment frameworks for tailored client solutions and guiding our clients through their transition financing journey . Secondly , we ’ ve been able to bring together some of our key leadership in digitalisation in addition to complementing the market presence that we have in the production markets to play a very significant role in Scope 3 decarbonisation . Scope 3 emissions involve broader ecosystems external to a corporate ’ s immediate control , requiring innovative solutions and cross functional collaboration .”
Sustainability : A crossdepartmental foundation The bank ’ s burgeoning role in leading APAC businesses towards net zero requires innovative thinking to meet the evolving client needs . This in turn requires strong cross-functional collaboration across departments to address client challenges .
That is why DBS Bank has worked hard at spinning a strong web of cross-departmental connections .
Terence says : “ We see our internal departmental responsibilities as a given . We work integrally with our sustainability colleagues , who are very much part of the same family .
“ They ’ re integrated into how we deliver solutions to clients , how we identify which clients and suppliers to engage because they all have alignment in terms of the goals that they ’ re trying to achieve .
“ For example , while crafting a solution for one of our corporate clients based out of Europe , we brought in our team of experts from our offices in the US , Hong Kong and Singapore across various departments such as coverage , sustainability , operations , client management , sales and product .”
Such cross departmental collaboration is also the need of the hour , among corporates and organisations , Terence adds , saying : “ Our clients in procurement and sustainability , as well as treasury , are increasingly more integrated crossfunctionally around the agenda of particularly scope three decarbonisation .
“ What we ’ ve discovered in our client world is that scope one and two can be handled by specific departments , but when it comes to scope three , because it involves a broader universe , a broader ecosystem of suppliers outside the realm of a corporate strategist sustainability department or funding from a treasury , you do need to involve a broader team .”
Financial solutions for decarbonisation In many ways DBS is the glue connecting organisations , while the bank ’ s financing solutions are the engine driving decarbonisation , supporting an acceleration towards net zero . Sourcing and unlocking that finance is not straightforward , but DBS is succeeding by bringing to bear
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