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DBS completes Singapore's first USD SOFR-linked export financing transaction straitstimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from straitstimes.com Daily Mail and Mail on Sunday newspapers.
EnergySoutheast Asia s largest bank DBS to phase out thermal coal financing Reuters 2 minutes read A DBS booth is seen at the Singapore Fintech Festival in Singapore November 16, 2016. REUTERS/Edgar Su Singapore bank DBS Group (DBSM.SI) said on Friday it would phase out financing for customers that derived revenue from thermal coal and had committed to zero exposure to the sector by 2039. The move comes as banks around the world have faced increasing public, investor and political pressure to join the battle against climate change and stop financing the coal industry. DBS will cease signing up new customers deriving more than 25% of their revenue from thermal coal with immediate effect, it said in a statement. ....
As part of its efforts to support the transition to a low-carbon future, the bank has set a target of 2039 to cut its thermal coal exposure to zero. ....
Coal Loans to Keep Singaporeâs DBS Tied to The Fuel Until 2039 Apr 16 2021, 2:43 PM April 16 2021, 1:55 PM April 16 2021, 2:43 PM (Bloomberg) DBS Group Holdings Ltd. said it will maintain exposure to the coal sector until 2039, by which time its loans to mining and generation companies using the dirtiest fossil fuel will be repaid. (Bloomberg) DBS Group Holdings Ltd. said it will maintain exposure to the coal sector until 2039, by which time its loans to mining and generation companies using the dirtiest fossil fuel will be repaid. Singaporeâs largest lender recognizes the need for transition financing to help industries âgradually navigate away from brown to green,â Tan Su Shan, group head of institutional banking, said in a statement Friday. ....