DBS today announced that it has been named World’s Best Bank for Sustainable Finance by New York-based trade publication Global Finance. This marks the first time the bank has received this global accolade while retaining the title of Best Bank for Sustainable Finance in Asia-Pacific for the second consecutive year. Additionally, DBS was named Best Bank for ESG-Related Loans and Best Bank for Transition/Sustainability-Linked Loans in the Asia-Pacific region.
These awards highlight DBS’ commitment to supporting Asia’s transition to a more sustainable future, not only through traditional capital mobilisation but also via innovative financing solutions and public-private partnerships. The recognition also underscores DBS’ role in assisting small and medium-sized enterprises (SMEs) on their sustainability journeys.
Now in its fifth year, the Global Finance Sustainable Finance Awards honour organisations that demonstrate exemplary leadership in financing solutions that address environmental challenges and drive sustainability efforts worldwide.
Joseph Giarraputo, President and Editorial Director at Global Finance, stated:
“Global Finance’s selection for the best bank for sustainable finance globally has embedded environmental and social considerations into the fabric of their business. Singapore’s DBS is leading the way in financing Asia’s journey to net zero and has been instrumental in transition and sustainability-linked loans across the energy, industrials, transportation, and real estate sectors in Asia-Pacific in 2024. The bank’s sustainable finance framework helps provide clear guidance for their clients’ decarbonisation and transition strategies.”
DBS’ Commitment to Asia’s Net-Zero Transition
As an Asia-centric bank, DBS views enabling the region’s transition to net zero as both a business and social imperative. In 2024, DBS led several innovative transactions across various markets in the region, including:
- Pioneering novel financing structures that blend public and private capital to de-risk sustainability projects and mobilise investment at scale.
- One example is the Karian Water Services project in Indonesia, a USD 286 million blended finance initiative to develop a freshwater supply system serving two million people in Jakarta, Tangerang, and South Tangerang. DBS acted as the sole financial adviser, aligning governments, multilateral agencies, and private-sector players. This project marked the first time a mix of public- and private-sector funds has been used in Indonesia’s water sector.
- Facilitating access to sustainable capital across the region.
- DBS was the first Southeast Asian bank to leverage the People’s Bank of China’s (PBOC) Carbon Emission Reduction Facility, securing funding to issue a green loan to a leading Chinese renewable energy player.
- DBS was also the only Singapore bank selected by PBOC for this landmark programme, which supports China’s transition efforts.
- Supporting SMEs and mid-caps in transitioning to greener operations.
- Recognising SMEs as the backbone of Asia’s economy, DBS extended a green loan in November 2024 to a Singapore-based SME for the development of Singapore’s first circular biomass power plant.
- Through a bespoke project financing structure, green electricity generated by this plant helps power part of Google’s data centre operations in Singapore. This initiative contributes to Singapore’s circular economy and demonstrates how DBS enables smaller enterprises to access green financing and participate in the region’s energy transition.
Driving Positive Change in Sustainability
Tan Su Shan, Deputy CEO of DBS, commented:
“Climate change is one of the great challenges of our time that demands bold and collective action to solve. As a purpose-driven bank, DBS is committed to enabling a just transition in Asia by providing essential financing for decarbonisation activities that balance the social, environmental, and economic priorities of the region. Our approach must be pragmatic and impactful. We leverage our regional network, industry knowledge, sustainability advisory, and expertise in structuring to deliver innovative financing solutions to businesses of all sizes. Being recognised as the World’s Best Bank for Sustainable Finance by Global Finance is a tremendous honour and reinforces our resolve to drive positive change in the communities we serve.”
With this recognition, DBS continues to strengthen its position as a leader in sustainable finance, supporting Asia’s transition towards a greener and more resilient future.
