DBS
Your bank is failing on climate responsibility.
DSB has measured greenhouse gas emissions enabled by its lending and set emission reduction targets. Despite that, it continues to provide financing to enable expansion of fossil fuel infrastructure ($9.8 trillion between 2025 and 2023, $0.5 trillion in 2023 alone).
Also despite its ambition to transition away from fossil fuels and having provided significant amount of lending to renewable energy projects, the bank continues to hold investments in toxic bonds (totaling several trillion USD).
We'd like to see the bank offer real green products to its retail customers, e.g. preferential interest rates for purchase of electric vehicles, instead of gimmicks such as a carbon accounting calculator.
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Your bank may be ignoring the Paris Agreement.
The Paris Agreement set the goal to stay under 1.5°C of warming for very good reasons. According to the Intergovernmental Panel on Climate Change, an increase of just a couple of degrees more could lead to "substantial species extinction, large risks to global and regional food security", and an inability to work outside — or even live — in some areas of the world. Our world will become unrecognizable as ocean dead zones, floods, and extreme weather fuel social and economic disruption.
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