DBS and Keppel Join Forces to Propel Sustainable Urban Development and Digitalization in Asia

DBS&Keppel have embarked on an ambitious journey to collectively advance sustainable urbanization and digitalization solutions in Asia, with a special focus on India. This strategic collaboration comes as a result of DBS’ expanding presence in one of the world’s fastest-growing economies. The partnership aims to expedite the adoption of energy-efficient practices and sustainable solutions across high-energy-consuming sectors, including healthcare, hospitality, and commercial and industrial real estate.

The initiative aligns perfectly with the recently concluded Business 20 (B20) dialogue in New Delhi, which was centered around empowering Responsible, Accelerated, Innovative, Sustainable, and Equitable (RAISE) businesses to steer sustainable economic progress and growth.

India holds a significant position among DBS’ six core markets and ranks among the top three markets for sustainable finance for the bank. The country’s swift urbanization is projected to exert a considerable influence on its energy consumption and global energy trends.

In response to the escalating demand for sustainable urban solutions, Keppel offers a range of Energy-as-a-Service solutions. These encompass highly efficient cooling systems, sustainable energy storage, distributed solar photovoltaic systems, and infrastructure for electric vehicle charging. Additionally, Keppel provides spatial programming and workplace solutions that enhance building performance and augment asset value. To facilitate the implementation of such technologies, DBS will extend financing solutions to its clients.

Moreover, the Memorandum of Understanding (MOU) encompasses the provision of digitalization solutions to DBS’ corporate clientele. Through Keppel’s subsidiary, M1, the collaboration will explore ways to enhance and support the digital transformation 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.

Loh Chin Hua, CEO of Keppel Corporation, stated, “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, digitalized and ultimately, more competitive in an increasingly complex operating environment.”

Piyush Gupta, CEO of DBS Bank, affirmed, “Businesses are keenly aware of the vital role they play in achieving a net-zero future. To decarbonize 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.”

The collaboration between DBS and Keppel marks a significant step towards fostering sustainability and digitalization in Asia. By combining their expertise and resources, the two entities aim to empower businesses in their pursuit of sustainable growth. This partnership not only signifies a commitment to a greener future but also exemplifies the power of collective action in driving positive change.

Source: DBS