Tannuka Juneja
In line with its emphasis on responsible banking, DBS Bank India has announced the launch of its Green Deposit Program for corporate clients, providing businesses with an easy way to support green projects.
DBS Bank is one of the few banks in the world to integrate the sustainable development goals (SDGs) by providing sustainable and green sector credit and corporate credit solutions, and now offers a green deposit product. As part of the bank’s sustainability programme, green deposits will fund green industries and businesses such as sustainable water initiatives for green buildings, including wastewater management, renewable energy and clean transportation.
The green deposit proposal combines all the benefits of regular fixed-term deposits with DBS’s commitment to supporting green and sustainable loans disbursed by banks.
The Green Deposit is an ideal opportunity for companies that wish to integrate a sustainable programme into their treasury activities or who have limited options for investing in green projects.
Commenting on the initiative, Divyesh Dalal, Managing Director and Head – Global Transaction Services, DBS Bank India, said, “Through sustainable financing, banks play an important role in accelerating the transition to an ESG-friendly future. DBS is bolstering support for customers to adopt sustainable business practices enabling them to contribute towards Sustainable Development Goals. Our Green Deposits programme aims to finance green industries and initiatives for renewable energy, wastewater management and clean transport.”
The deposits can provide a threefold benefit:
- Demonstrate customer’s commitment towards environmental sustainability;
- Customers can invest surplus cash in deposits supporting sustainable projects with positive environmental impact;
- Customers can receive stable returns on investment without compromising the security of the deposit placement.
India is increasingly working towards achieving an inclusive, sustainable economy. India’s performance on the NITI Aayog SDG India Index has improved from an overall score of 60 in 2019-20 to 66 in 2020-21.
