DBS Bank and Keppel tie up to boost sustainable digitalization solutions with a focus on India

DBS Bank (DBS) and Keppel stated that they had inked an agreement to work together to scale up sustainable urbanization and digitalization solutions across Asia, with an emphasis on India. India is receiving attention as a result of DBS' growing presence there. According to the company, the partnership intends to hasten the adoption of energy optimization and sustainable solutions across energy-intensive industries like healthcare, hospitality, and commercial and industrial real estate. The move follows the recently concluded Business 20 (B20) debate in New Delhi, which had as its main objective empowering Responsible, Accelerated, Innovative, Sustainable, and Equitable (RAISE) firms to promote sustainable economic growth and development.

India is among DBS’ six core markets and one of the bank’s top three markets for sustainable finance. The country’s rapid rate of urbanization is expected to have a key impact on its energy usage and global energy trends.“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,” said Piyush Gupta, CEO of DBS Bank.

According to the company's statement, the MOU involves offering digitalization solutions to DBS’ corporate customers. Through Keppel’s subsidiary, M1, the collaboration will explore ways to enhance and support the digitalization 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. “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,” said Loh Chin Hua, CEO of Keppel Corporation.