DBS is a sustainable bank. But Greta Thunberg they are not.
Start with DBS doing a good job on ESG. But for them to say they are more like an eco-warrior and less like a bank is ridiculous.
DBS is part of the United Nation’s Net-Zero Banking Alliance and commits to achieving net-zero emissions in its lending portfolio by 2050. They have pledged to stop financing customers that derive more than half of their revenue from thermal coal by 2026, and completely stop coal lending by 2039. But calling themselves an eco-warrior greenwashes the harm being caused by the trade-offs being made during the energy transition.
This is an own goal.
Steve Okun, Glenn Van Zutphen & Neil Humphries, Money FM