DBS On Drive To Recycle More, Waste Less With Employees And Public

Sporks; “hidden” straws; ang bao packs sans plastic wraps; tiny zip pouches that unfold into recyclable bags – just some handy hacks DBS created to help employees and customers live more sustainably

Launches DBS Sparks Studio, a new in-house content studio that doubles up as an interactive space for communities, including social enterprises

SINGAPORE, 30 January 2019 – Within the cafeteria of DBS’ Exchange Hub in Singapore, straws can no longer be found. For Chinese New Year this year, the bank handed out red packets as usual but without any plastic wraps. Clients visiting DBS Treasures lounges here drink from glasses and recyclable paper cups, without a plastic bottle in sight. These are but a few examples of the steps DBS has taken in its drive to “Recycle more, Waste less”.

Shee Tse Koon, Country Head, DBS Singapore, giving his remarks on DBS’ role in supporting Singapore’s vision for a more sustainable society

      Last year, in conjunction with the introduction of DBS’ “Live more, Bank less” ethos, the bank upped the ante on its commitment to becoming more socially conscious and launched the “Recycle more, Waste less” eco-movement, with a focus on encouraging Singaporeans to reduce their consumption of single-use plastics – a particularly pressing issue in Singapore. According to the Singapore Environment Council (SEC), Singaporeans use at least 1.76 billion plastic items a year, of which less than 20% is recycled. Singapore shoppers also take 820 million plastic bags from supermarkets every year.

Karen Ngui, Head of DBS' Group Strategic Marketing & Comms, addressing the crowd on how businesses of the future can contribute towards sustainable development

 DBS’ call to “Recycle more, Waste less” has since resulted in more than 50,000 people pledging to adopt simple and easy steps in their daily lives – such as saying no to straws or ditching plastic bags for reusable ones – that reduce their consumption of single-use plastics.

Said Karen Ngui, Head of Group Strategic Marketing and Communications at DBS Bank, “At DBS, we believe we have an important role in helping to build a more sustainable society for future generations. Our aim with ‘Recycle more, Waste less’ is to shift how we collectively view recycling and conservation and bring about positive changes in people’s attitudes and behaviors. Together, we can become a more socially conscious society through small, simple and easily achievable lifestyle changes. We believe these everyday actions can result in significant long-term benefits for our island state.”

In its support of Singapore’s green push, DBS has adopted the following eco-friendly practices:

1.     Changing procurement practices: DBS has drastically reduced its use and purchase of disposable plastic water bottles in Singapore, resulting in some 7.3 tons of plastic waste being saved every year. The bank also works with its tech vendor to reuse and reduce packaging for its electronic items, saving an estimated ton of plastic waste per year. This year, the bank also eliminated the use of plastic wraps for its red packets, avoiding 220 kg in plastic wastage.  

2.     Making it easier for employees to adopt sustainable practices: The bank has distributed 4,000 reusable bags (which fold easily to become tiny, zipped pouches), 2,000 Sporks (a hybrid metal cutlery tool shaped like a spoon and a fork at either end) and 2,500 sets of metal straws to help employees lead more eco-friendly lives. More than 1,300 employees have also pledged to an ongoing campaign to reduce their carbon footprint in 2019. DBS also recently carried out a six-week campaign that saw some 200 staff volunteers (or “Eco-Heroes”) drive greater awareness on recycling among employees. The campaign has resulted in nearly 70% more trash (or 1,900 kg more) being sorted for recycling.

3.     Helping Singaporeans to become more environmentally-conscious: The bank gave away 20,000 reusable water bottles last year to attendees of the DBS Marina Regatta and Social Enterprise Summit. 8,000 Sporks were also given out as part of a “pledge-for-Sporks” campaign across universities, food outlets and hawker centres in Singapore.

4.     Working together with like-minded partners: In December 2018, DBS partnered the Singapore Environment Council (SEC) to jointly launch the ‘One Less Plastic’ national campaign with four leading supermarket chains – Dairy Farm Singapore Group, NTUC FairPrice, Prime Group and Sheng Siong – to encourage the use of reusable bags among supermarket shoppers. To date, some 30,000 reusable bags have been distributed through the partnership.

Today also sees the launch of the DBS Sparks Studio, located at the bank’s headquarters in the Marina Bay Financial Centre district. Designed flexibly as a “studio by day, communal hub by night”, DBS’ new in-house content studio will also serve as an interactive space for communities – which includes social enterprises supported by DBS Foundation, interest groups within the bank, as well as public interest groups – where they can gather, network, organise or attend events.

DBS’ green initiatives are part of the bank’s commitment to sustainable development. It was the first Singapore bank to be included as an index constituent of the FTSE4Good Global Index, a global sustainability index. The bank is also the first Asian bank and first Singapore company to join global renewable energy initiative RE100.

DBS has pledged to power 100% of its Singapore operations using renewable energy by 2030. As part of this commitment, the bank installed 1,200 solar panels at its office buildings in Changi Business Park. Today, 40% of DBS’ total energy consumption in Singapore comes from renewable sources. In 2017, DBS launched Singapore's first green bond by a financial institution and helped to promote green finance through the issuance of a USD 500 million green bond. In the same year, DBS was also the sole bookrunner for the first green bond by a Singapore company – City Developments’ SGD 100 million green bond.

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To find out more about DBS’ “Recycle more, Waste less” eco-movement and the bank’s other sustainability initiatives, visit go.dbs.com/recyclemorewasteless.  

DBS signals time has come for new kind of banking

SINGAPORE, 15 May 2018 – DBS Bank, a leader in digital transformation, today signalled that the time has come for a new kind of banking. After more than a decade of establishing its Asia heritage with “Living, Breathing Asia”, DBS is evolving its positioning to “Live more, Bank less”. Its bold new brand promise reflects the belief that in the digital era, it needs to deliver banking that is so simple, seamless and invisible, that customers have more time to spend on the people or things they care about. 

Said DBS CEO Piyush Gupta, “In the last 10 years, we have successfully established ourselves as a leader in Asia banking. While we remain rooted to Asia, Asia is rapidly changing, like the rest of the world. With the ubiquity of the smartphone, the explosion of data and the rise of the sharing economy, customer behaviours are dramatically different from what they were before. Customers want a new kind of banking. Having made reimagining banking a priority in the last few years, we believe we are well-placed to personify and embody banking of the future.”

From leadership in Singapore to leadership in Asia

Over the last 50 years, DBS has established itself as a leader not just in Singapore but also in Asia.

From the time of its founding in 1968 – three years after Singapore became an independent nation – the bank has pioneered many firsts that have revolutionised the banking landscape.

Since the introduction of “Living, Breathing Asia” in 2006, DBS has also established itself as a leader in Asia banking:

• Doubled the size of the bank. Between 2006 and 2017, DBS has more than doubled income to SGD 11.9 billion and nearly doubled net profit to SGD 4.39 billion.
• More than tripled market capitalisation. At end 2006, DBS’ market capitalisation was close to SGD 20 billion; today, it is about SGD 75 billion, putting the bank among the top 40 most valuable banks globally.   
• Only Singapore and Asian bank to be ranked among the top six wealth managers in the region; among the top five players for corporate banking.
• Only Asian bank with a presence in three key axes of growth – Greater China, South Asia and Southeast Asia.
• Recognised not only as “World’s Best Digital Bank” by Euromoney but also “Asia’s Best Bank” by esteemed publications such as The Banker, Euromoney, IFR Asia and Global Finance. Named “Safest Bank in Asia” by Global Finance for nine consecutive years. Topped the list of most valuable bank brands in ASEAN for six consecutive years with a brand value of USD 6.49 billion in 2018.

“Live more, Bank less” to define DBS’ next phase of growth

With the digital revolution, banking is being fundamentally redefined. At 50, DBS, like banking, is at a crossroads. The “Live More, Bank Less” ethos embodies the belief that the bank needs to remain at the forefront of change in the next 50 years.

“Live more, Bank less” encapsulates many aspects and DBS is intent on enabling its customers to:

• Live hassle-free with invisible banking
  • Embedding banking in the customer journey. With its strong focus on weaving banking into the daily lives of customers, the bank has launched car, property and electricity marketplaces in the last nine months. Customers looking to buy or sell their car, rent a property or choose an electricity provider can now do so on the DBS website. DBS’ API-driven architecture and strong focus on human-centred design and user experience help make banking simpler and more seamless.   
  • Creating a bank that is always with its customers. With DBS iWealth, customers in Singapore and Hong Kong can manage, transact and trade via their mobile phones 24/7. In India and Indonesia, digibank is paperless, signatureless and branchless, and an entire bank in the phone.
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 Seize life’s opportunities

• Customers in Singapore and Hong Kong are provided insights to better seize investment opportunities with DBS iWealth. This includes having access to sophisticated portfolio and performance analysis, as well as curated research and investment views contextual to their portfolio or preferences.
• SMEs with DBS BusinessClass have access to the latest market trends as well as a knowledgeable community of Asia’s business leaders, including venture capitalists and industry peers.
• Chief financial officers and corporate treasurers can manage and project their cash positions at the click of a button with Treasury Prism, the world’s first online treasury and cash management simulation tool.

Live larger than themselves

• Encouraging customers to live socially-conscious by making them more aware of various ways to do so.
• Providing the next generation with opportunities to come together to create innovative solutions that solve sustainability issues.
• Helping social entrepreneurs bring their ideas to life through grants, banking services, mentorship and by giving them a platform to share their work and pitch for funding. 

Brand campaign to kick off this week

 DBS will be rolling out a brand campaign in all its markets over the next two months, starting with Singapore this week. 

For more information on “Live more, Bank less”, please visit www.dbs.com/livemore

At the event, it was a surprise for all the attendees, DBS have specially invited MICappella to entertain us. 

In addition, we took photo with fellow bloggers / influencers with the ubersnap Photo Booth.