DBS Group Holdings Ltd Sustainability Profile
DBS Group Holdings Ltd, commonly referred to as DBS Bank, is a leading financial services group headquartered in Singapore (SG). Established in 1968, DBS has evolved into a prominent player in the banking industry, with a strong presence across Asia, particularly in markets such as Hong Kong, China, and India. The bank offers a comprehensive range of services, including consumer banking, corporate banking, investment banking, and wealth management. Notably, DBS is recognised for its digital banking innovations, which enhance customer experience and operational efficiency. With numerous accolades, including being named "Asia's Best Bank" by several financial publications, DBS Group Holdings Ltd continues to solidify its market position as a trusted financial partner, committed to sustainable growth and customer-centric solutions.
DitchCarbon Score
How does DBS Group Holdings Ltd's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Financial Intermediation industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
DBS Group Holdings Ltd's score of 51 is higher than 67% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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DBS Group Holdings Ltd's reported carbon emissions
In 2024, DBS Group Holdings Ltd reported total carbon emissions of approximately 83,784,000 kg CO2e. This includes Scope 1 emissions of about 1,300,000 kg CO2e, Scope 2 emissions of approximately 50,889,000 kg CO2e, and significant Scope 3 emissions totalling around 56,162,000 kg CO2e. Notably, business travel accounted for about 17,371,000 kg CO2e, while upstream leased assets contributed approximately 22,043,000 kg CO2e. In 2022, the group's emissions in Singapore were reported at approximately 30,673,000 kg CO2e, with Scope 1 emissions at about 106,000 kg CO2e and Scope 2 emissions at 16,128,000 kg CO2e. Scope 3 emissions for that year were around 14,439,000 kg CO2e, highlighting the bank's substantial indirect emissions. DBS has set ambitious climate commitments, aiming for net-zero emissions across all scopes by 2050. The bank has established specific targets to reduce financed emissions from its Oil and Gas portfolios, aiming to decrease emissions from 38.6 million tonnes CO2e in 2020 to 27.7 million tonnes CO2e by 2030, and further down to 3.0 million tonnes CO2e by 2050. These targets align with the International Energy Agency's Net Zero by 2050 scenario. DBS's emissions data is not cascaded from any parent organization, ensuring that the reported figures are directly attributable to its operations. The bank's commitment to sustainability reflects its proactive approach to addressing climate change and reducing its carbon footprint.
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| 2017 | 2018 | 2020 | 2021 | 2022 | 2024 | |
|---|---|---|---|---|---|---|
| Scope 1 | - | - | 000,000 | 000,000 | 000,000 | 0,000,000 |
| Scope 2 | 57,077,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 3 | - | - | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
How Carbon Intensive is DBS Group Holdings Ltd's Industry?
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DBS Group Holdings Ltd's Scope 3 Categories Breakdown
DBS Group Holdings Ltd's Scope 3 emissions, which increased by 130% last year and increased by approximately 332% since 2020, demonstrating supply chain emissions tracking. Most of their carbon footprint comes from suppliers and value chain emissions, with Scope 3 emissions accounting for 52% of total emissions under the GHG Protocol, with "Upstream Leased Assets" being the largest emissions source at 39% of Scope 3 emissions.
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DBS Group Holdings Ltd's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
DBS Group Holdings Ltd has not publicly committed to specific 2030 or 2050 climate goals through the major frameworks we track. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
