TAIPEI, 7 November 2024 –
DBS Bank (Taiwan) recently announced the launch of the “ESG Ready Program”, partnering with industry-leading sustainability experts such as ESGpedia, Schneider Electric, and TÜV SÜD to provide tailored environmental, social, and governance (‘ESG’) solutions for small and medium-sized enterprises (‘SMEs’), helping them to overcome supply chain pressure and resource constraints to implement the five stages of carbon management and reporting, towards achieving sustainable development goals.
In response to Taiwan’s plan to align with the International Financial Reporting Standards (‘IFRS’) Sustainability Disclosure Standards starting in 2026, listed companies are being urged to enhance ESG disclosures and prepare sustainability reports. While not mandated for SMEs, their participation in larger corporate supply chains indirectly exposes them to growing sustainability management demands. The resulting pressure, coupled with limited resources and manpower, highlights the urgent need for professional ESG services.
羅綸有 Tony Luo, Head of Institutional Banking Group and Chairman of the Sustainability Committee at DBS Bank (Taiwan), stated that the ESG Ready Program demonstrates DBS (Taiwan)’s full support for the sustainable development of SMEs. DBS Bank (Taiwan) not only provides green finance solutions, but also collaborates with industry leaders to provide comprehensive support for SMEs to cope with supply chain compliance pressures, move towards net zero carbon emissions goals, and bring positive impact to Taiwan’s social and environmental sustainable development, from information sharing, carbon accounting and reporting, carbon reduction technology, to third-party certification.
Through the DBS ESG Ready Program, companies will start by enhancing their sustainability awareness through training and upskilling, conduct carbon assessment and strategy development, implement decarbonisation solutions, leverage green and sustainable financing, and ultimately get third-party verification and certification of sustainability performance to comprehensively advance on sustainable development. The implementation of these five stages will assist SMEs in effectively addressing various sustainable challenges, achieving carbon reduction goals, and enhancing market competitiveness.
Stage 1: Training and Upskilling
With the evolution of global sustainability regulatory landscape and trends, SMEs need to quickly adjust their strategies to ensure compliance. DBS Bank (Taiwan) will hold exclusive client workshops and events in collaboration with professional ESG partners to share on policy changes, corporate pain points, and solutions, helping SMEs find suitable sustainable development strategies.
Stage 2: Carbon Assessment and Strategy Development
Carbon accounting and sustainability reporting are crucial steps in a company’s sustainability strategy development. To help companies effectively grasp their carbon emissions, DBS Bank (Taiwan) has partnered with ESGpedia, Asia’s leading ESG data and technology company, to use the one-stop sustainability digital platform to assist various industries in the Asia Pacific region in calculating greenhouse gas (‘GHG’) emissions and establishing core ESG metrics. The ESGpedia platform assists SMEs in quantifying and accounting for carbon emissions from various business activities, and generating GHG emissions and sustainability reports, in accordance with ISO14064 methodologies.
As the next step, the ESGpedia platform supports SMEs to develop short, medium, and long-term decarbonisation strategies in response to supply chain sustainability requirements, demonstrating their sustainability commitment and capabilities.
Stage 3: Implementation of Decarbonisation Solutions
To ensure that companies effectively implement sustainable strategies, DBS Bank (Taiwan) has partnered with Schneider Electric Taiwan, which provides ESG carbon reduction solutions through advanced industrial automation, green smart manufacturing, and artificial intelligence. Schneider Electric can assist SMEs in introducing energy-saving solutions, integrating energy and capacity utilization through industrial data platforms, accurately monitoring greenhouse gas emissions, identifying energy consuming links, and thus implementing green manufacturing to achieve carbon reduction goals.
Stage 4: Green and Sustainable Financing
In the process of moving towards green transformation, the main challenges SMEs often face include funding and resources. As the first bank in Southeast Asia to publicly disclose its decarbonization path and industry goals, DBS Bank (Taiwan) has supported financing for 15 large-scale green energy projects since its establishment. Today, DBS has extended its green finance services to SMEs, providing green loans, as well as sustainable trade and supply chain finance, to help them effectively reduce carbon emissions and strengthen their competitiveness for sustainable development. Through financial support, enterprises are able to balance profitability and social responsibility, establishing a long-term sustainable positive cycle.
Stage 5: Certification and Assurance
TÜV SÜD Taiwan, as a greenhouse gas verification body recognized by the Taiwan Accreditation Foundation (TAF) and expected to become an organisation recognized by the Ministry of Environment, the Financial Supervisory Commission, and the Taiwan Stock Exchange, provides comprehensive assurance services, including verifying carbon emissions, product carbon footprint, product lifecycle assessment, environmental product declaration, carbon neutrality inspection, carbon management courses, and carbon information disclosure. DBS Bank (Taiwan) collaborates with TÜV SÜD Taiwan to enhance the credibility and transparency of corporate carbon management through third-party verification, providing a basis for sustainability performance evaluation and financial support for enterprises, assisting in green transformation.
For more information on the ESG Ready Program and to register interest, please visit: https://www.dbs.com.tw/sme-zh/dbs-forms/email-us-sme.page.
For further information, please contact:
ESGpedia (www.esgpedia.io)
Grace Lim, Senior Marketing Manager
Email: [email protected]
DBS Bank (Taiwan) (www.dbs.com.tw)
廖郁毓 Alicia Liao
Email: [email protected]
Tel: （02） 6612-8890
林伶遠 Avery Lin
Email: [email protected]
Tel: (02) 6612-8893
About ESGpedia
ESGpedia (ESGpedia Pte Ltd) is Asia’s leading ESG data and technology company, headquartered in Singapore. The ESGpedia platform powers the ESCAP Sustainable Business Network (ESBN) Asia-Pacific Green Deal digital platform and the Asia-Pacific Single Accesspoint for ESG Data (SAFE) initiative, and is part of the Singapore-Australia Go-Green Co-Innovation Programme. With more than 5 million sustainability data points, ESGpedia serves as the Nexus of ESG, digitally empowering corporates, SMEs, and the financial sector to ensure compliance towards ESG regulations and attain their ESG goals. ESGpedia is GRI-licensed. For more information, please visit www.esgpedia.io.
LinkedIn: https://www.linkedin.com/company/esgpedia/
About DBS Bank
DBS is a leading financial services group in Asia with a presence in 19 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank’s “AA-” and “Aa1” credit ratings are among the highest in the world.
Recognised for its global leadership, DBS has been named “World’s Best Bank” by Global Finance, “World’s Best Bank” by Euromoney and “Global Bank of the Year” by The Banker. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best Digital Bank” by Euromoney and the world’s “Most Innovative in Digital Banking” by The Banker. In addition, DBS has been accorded the “Safest Bank in Asia“ award by Global Finance for 16 consecutive years from 2009 to 2024.
DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets.
DBS is committed to building lasting relationships with customers, as it banks the Asian way. Through the DBS Foundation, the bank creates impact beyond banking by supporting businesses for impact: enterprises with a double bottom-line of profit and social and/or environmental impact. DBS Foundation also gives back to society in various ways, including equipping underserved communities with future-ready skills and helping them to build food resilience.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit www.dbs.com.
About DBS Bank (Taiwan)
DBS Bank’s journey in Taiwan began in 1983 with a customer-centric approach, providing comprehensive financial services across consumer banking, wealth management, SME, and corporate banking. Since then, DBS has significantly expanded its presence through strategic investments and acquisitions, including Bowa Bank (2008), ANZ’s personal banking and wealth management businesses (2017), and most recently, Citibank Taiwan’s consumer banking business (August 2023). This expansion has cemented DBS’s position as the largest foreign bank in Taiwan.
This success is reflected in numerous accolades recognizing DBS Bank (Taiwan)’s financial strength and commitment to sustainability. These include being named “Best Foreign Bank in Taiwan” by Asiamoney, winning the top honor in CommonWealth Magazine’s Sustainability Awards for “Foreign Enterprise Group – Overall Performance,” and achieving seven consecutive years as one of HR Asia’s “Best Companies to Work for in Asia”.
DBS Bank (Taiwan) remains committed to innovation, providing advanced digital financial solutions and professional services, while upholding its vision of “Live more, Bank less.”