SINGAPORE: DBS Bank, in collaboration with Deloitte, has introduced the Sustainability Accelerator Tool, a new initiative designed to help small and medium enterprises (SMEs) navigate and address their decarbonisation challenges over the coming year.
The Sustainability Accelerator Tool is structured to assist SMEs in evaluating their sustainability maturity across four key pillars: governance framework, sustainability strategy, risks and opportunities, and metrics and targets. These pillars are based on the Task Force on Climate-related Financial Disclosures (TCFD) framework, which is a globally recognised standard for climate-related reporting.
By utilising this tool, an estimated 1,000 SMEs are anticipated to benefit from tailored support. Each participating business will receive a customised sustainability readiness report. This report will offer a detailed analysis of the company’s current sustainability practices and provide actionable insights to address specific challenges and gaps in their decarbonisation efforts.
DBS has outlined plans to extend the availability of the tool to other markets starting in 2025. This move is part of the bank’s broader commitment to enhancing sustainability practices across the region.
Additionally, SMEs seeking further enhancement of their sustainability initiatives can engage with DBS’ ESG Ready Programme. This programme offers access to a panel of experts, including specialists from Deloitte, to provide advanced guidance and support on environmental, social, and governance (ESG) issues.
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