DBS Bank and Keppel Sign MoU to Elevate Urbanization and Digitalization in Asia

On Sept 4, DBS Bank (DBS) and Keppel announced the signing of a memorandum of understanding (MoU) to jointly scale up sustainable urbanization and digitalization solutions in Asia, with a focus on India.

The focus on India is due to DBS' growing presence in the country. According to the company, the collaboration aims to accelerate the adoption of energy optimisation and sustainable solutions across energy-intensive segments such as healthcare, hospitality, and commercial and industrial real estate.

The action follows the recently concluded Business 20 (B20) dialogue in New Delhi, which focused on enabling businesses to drive sustainable economic growth and development through Responsible, Accelerated, Innovative, Sustainable, and Equitable (RAISE).

India is one of DBS' six core markets and one of the top three for sustainable finance. The country's rapid urbanisation is expected to have a significant impact on its energy consumption and global energy trends.

"Businesses are acutely aware of their critical role in achieving a net-zero future." Companies must have the know-how, as well as access to sustainable solutions and financing, to decarbonize at scale. DBS is committed to assisting our clients in making the transition to a low-carbon future. We can simplify the journey for clients by providing a suite of solutions, coupled with the appropriate financing, to drive collective action for sustainability by forming strong partnerships with leaders like Keppel', said Piyush Gupta, CEO of DBS Bank.