DBS Bank will partner logistics company DHL Express Singapore to reduce its carbon footprint, according to a joint press release by the two firms on Tuesday.
The three-year partnership will enable the bank’s global express shipments to become carbon neutral through DHL’s proprietary GoGreen Climate Neutral Service.
Singapore’s largest bank will utilise the eco-friendly patented solution provided by DHL to calculate and estimate the carbon dioxide emissions of every DBS shipment based on weight and distance travelled.
The emissions are then offset through reinvestments by the DHL carbon management programme into global climate protection projects. The entire process will be verified by an independent third party for accountability.
“We believe that we have a role to play in promoting sustainable development,” said Ms Donna Trowbridge, group head of procurement services at DBS Bank.
“Participating in this innovative initiative is another step we are taking to actively manage our carbon footprint, complementing ongoing efforts to cut our carbon emissions such as incorporating sustainable designs and practices into our offices and branches.”
At the end of each year, DBS will receive an annual certificate that details the estimated carbon emissions from its GoGreen shipments that were neutralised in environmental protection projects.
Examples of the global climate protection projects that are part of the carbon management scheme include a biomass power plant in India and wind farms in the eastern and north-central regions of China.
“As large global companies, we have the power to make huge waves not only in the economy but also in the well-being of societies and the environment. Hence, we are obligated to utilise business practices that ensure both quality of service and future of our green environment,” said Mr Frank-Uwe Ungerer, senior vice-president and managing director of DHL Express Singapore.
In 2016, DBS’ carbon emissions across its offices and branches in six key markets — Singapore, Hong Kong, China, India, Indonesia and Taiwan — fell by 4 per cent, said the bank.
Other efforts to cut down on the bank’s carbon footprint include reducing air travel by encouraging video-conferencing and online collaboration tools.
DBS was the first bank in Singapore to achieve the Green Mark certification endorsed by the National Environment Agency for its branch network in Singapore.
The DHL GoGreen policy is part of the international group’s commitment to contribute to the communities and regions in which the company operates, and covers environmental management, waste consumption and sustainable sourcing.
In Singapore, DHL Express tracks its annual carbon emissions and is the official logistics partner of the e-waste recycling Renew programme.