The latest developments in the field of environment, social and governance-related investment and activity as applied to banks, wealth and asset management.

DBS, EY 
DBS has signalled its sustainability credentials by allying with EY, manufacturing firms and an Asian polytechnic to launch a guide outlining how businesses can cut their carbon footprint.

The bank is helping to launch the Decarbonisation Playbook: A Practical Guide for Manufacturers to a Low-Carbon Future. DBS is working alongside the Singapore Manufacturing Federation, EY, and Nanyang Polytechnic.

The guide is also supported by Enterprise Singapore and SkillsFuture Singapore.

The playbook is aimed at two groups: more than 5,000 manufacturers across Singapore, and 1,600 learners from NYP’s full-time and continuing education programmes.

In its release about the launch, DBS Bank cited NCCS (National Climate Change Secretariat) data showing that manufacturing in Singapore accounted for almost half (49 per cent) of the Asian city-state’s greenhouse gas emissions in 2022. In a survey of more than 70 manufacturers across seven sub-sectors, 80 per cent of companies said they were still in the early stages of their sustainability journey. Another 65 per cent said they lacked visibility over their carbon emissions. These insights underscore the need for sector-specific, actionable support.

“Meaningful decarbonisation starts with practical, real-world support – shaped by close industry engagement and delivered in partnership across the manufacturing value chain. That is the spirit behind this playbook,” Chen Ze Ling, group head of corporate and SME banking, DBS, said. 

At the heart of the playbook is the "DECARB" framework – a step-by-step model that helps companies discover emissions sources, evaluate opportunities, create business cases, implement solutions, refine internal skills and build long-term decarbonisation roadmaps. 

“Unlike traditional frameworks, the playbook combines perspectives of manufacturing players with insights of ecosystem players who are familiar with decarbonisation,” Praveen Tekchandani, Singapore leader and partner, climate change and sustainability services, EY, said. “It breaks down complex requirements and policies like Singapore’s carbon tax and sustainability reporting standards while integrating science-based strategies, sector-specific pathways and readily applicable solutions, providing tangible and industry-tested tools to help companies take their first step in sustainability.”

Left to right: Lee Wei Hock (head of assurance, EY), Melvin Tan (VP and honorary secretary of SMF, and chairman of the SMF Sustainability Committee); Denise Leong (senior director (Student Affairs) and registrar, Nanyang Polytechnic); and Chen Ze Ling (group head of corporate and SME banking, DBS).