DBS and Univers, formerly known as Envision Digital, the global decarbonisation software leader headquartered in Singapore, announced a memorandum of understanding (MOU) to accelerate the adoption of affordable digital solutions to improve carbon measurement and tracking in order to drive Asia’s energy transition.
Under the MOU, DBS’ sustainable financing facilities and Univers’ digital capabilities offer a one-stop solution to support companies, especially small and medium enterprises (SME), in their decarbonisation efforts.
As a purpose-driven bank, DBS was one of the first industry movers to support SME customers in building their sustainability priorities. In 2022 alone, DBS disbursed SGD 100 million ($72.9 million) in green financing schemes for SME, including green renovation financing.
Meanwhile, Univers is one of the world’s leading providers of end-to-end enterprise energy and carbon management solutions. Powered by artificial intelligence and internet of things (AIoT), its proprietary software EnOS™ Ark provides a single source of data to track, measure and optimise emissions, which in turn helps to manage and improve operational efficiency. Univers’ system currently connects over 220 million smart devices and 550 gigawatts of energy assets globally.
By leveraging EnOS™ Ark, DBS will be able to catalyse its net zero commitment by helping its SME customers obtain a more accurate and comprehensive understanding of their baseline carbon footprint. The partnership will also help to highlight emission hotspots in supply chains and identify abatement levers to transition to more sustainable business models. Both parties will also collaborate to identify cloud partners across the region to accelerate the adoption of the platform. Pilot tests will commence with DBS’ SME clients in Hong Kong, India, Mainland China, and Singapore. Kicking off in sectors such as logistics, retail, renewable energy, and manufacturing, it will also be introduced to other industries based on evolving market demands.
Tan Su Shan, group head of institutional banking, DBS, said: “As a signatory of the NetZero Banking Alliance, DBS is committed to aligning its lending and investment portfolios with net-zero emissions by 2050. Our success is intertwined with our clients’ ability to accelerate their decarbonisation agendas. Bridging the data gap is a key hurdle that companies face when it comes to reducing their carbon footprints because you can only manage what you can measure. By partnering with Univers, we can help our clients – from large corporates to SME – easily access cutting-edge digital solutions and sustainable financing, to make the transition to net zero.”
Michael Ding, global executive director, Univers, said: “We look forward to making available our decarbonisation solution that DBS and their clients need to accelerate their sustainable efforts. With EnOSTM Ark, we aim to onboard all companies, big and small, across multiple industries, to reach their net zero goal.”
Re-disseminated by The Asian Banker