Path to Net Zero for SMEs
Path to Net Zero for SMEs
DBS is taking a proactive approach to accelerate decarbonisation* efforts and the transition to a green economy by:
Reducing emissions from our own operations
Working with customers to minimise greenhouse gas (GHG) footprint by reducing emissions from activities financed by DBS (Downstream Scope 3 Financed Emissions)
We recently established the first set of targets for our downstream Scope 3 financed emissions as part of our net zero journey. So, what are these targets and what does it mean to SMEs?
* Removal or reduction of carbon dioxide emission in the atmosphere
As part of its commitment to being net zero in its financed emissions by 2050, DBS announced sectoral targets that are aligned with science-based decarbonisation glidepaths in its report – “Our Path to Net Zero – Supporting Asia’s Transition to a Low-carbon Economy”.
How These Targets Affect SMEs
Target Type #1: Emissions Intensity Reduction
Target Type #2: Absolute Emissions Reduction
There is an increasing pressure on both large and small companies to decarbonise. Be it for energy cost savings or attracting customers and investments, SMEs can benefit from this shift in focus to decarbonise.
The key will be to measure their emissions and adopt technology that help to decarbonise their activities. The most straightforward way to kickstart the journey is through energy-efficient measures such as the adoption of energy-saving / low carbon equipment.
|“SMEs account for more than 98% of Hong Kong’s businesses and they play a vital part of our economy. Beyond contributing to the efforts against climate change, kickstarting decarbonisation measures for SMEs also means building a more resilient business and starting to decarbonise their supply chains.”
Managing Director and Head of Institutional Banking Group,
DBS Hong Kong
|“Decarbonisation has become another key input and output to businesses’ operational process – same as electricity and water consumption, and human resources. Understanding where they stand in the value chain of their customers will be critical for companies to create their sustainability roadmap.”
Executive Director, Sustainable Finance, Institutional Banking Group, DBS Hong Kong
Resources To Reduce GHG Emissions For SMEs
SME Grant Programme
With grants of up to SGD 100,000, you will be able to innovate, upgrade and adopt green solutions by tapping into DBS’ SME Grant Programme. Besides, companies can apply for the Green and Sustainable Finance Grant Scheme offered by Hong Kong Monetary Authority (HKMA) to support the issuance of debt instruments.