DBS Bank has partnered with EY, the Singapore Manufacturing Federation, and Nanyang Polytechnic to launch a guide aimed at helping businesses reduce their carbon footprint. The “Decarbonisation Playbook: A Practical Guide for Manufacturers to a Low-Carbon Future” is designed to support over 5,000 manufacturers in Singapore and 1,600 learners from Nanyang Polytechnic’s programs. The guide is supported by Enterprise Singapore and SkillsFuture Singapore.
According to data from the National Climate Change Secretariat, manufacturing in Singapore accounted for 49% of the city-state’s greenhouse gas emissions in 2022. A survey of over 70 manufacturers found that 80% were still in the early stages of their sustainability journey, and 65% lacked visibility over their carbon emissions. The playbook aims to address this need for sector-specific, actionable support.
The guide features the “DECARB” framework, a step-by-step model that helps companies discover emissions sources, evaluate opportunities, create business cases, implement solutions, refine internal skills, and build long-term decarbonisation roadmaps. The framework combines perspectives from manufacturing players with insights from ecosystem players familiar with decarbonisation, breaking down complex requirements and policies into tangible and industry-tested tools.
Chen Ze Ling, Group Head of Corporate and SME Banking at DBS, emphasized the importance of practical, real-world support in driving meaningful decarbonisation. Praveen Tekchandani, Singapore Leader and Partner at EY, noted that the playbook provides a unique combination of perspectives, integrating science-based strategies, sector-specific pathways, and readily applicable solutions.
The launch of the playbook demonstrates DBS’s commitment to sustainability and its efforts to support businesses in reducing their environmental impact. The partnership with EY, the Singapore Manufacturing Federation, and Nanyang Polytechnic brings together expertise from various sectors to provide a comprehensive guide for manufacturers. The playbook is expected to play a significant role in supporting Singapore’s transition to a low-carbon economy.
The collaboration between DBS and EY highlights the growing importance of environmental, social, and governance (ESG) considerations in the banking and finance sector. As investors and consumers increasingly prioritize sustainability, banks and financial institutions are under pressure to demonstrate their commitment to ESG principles. The launch of the Decarbonisation Playbook is a significant step towards supporting businesses in reducing their carbon footprint and promoting a more sustainable future.