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DBS to phase out thermal coal-related lending by 2039

For starters, it will stop taking on new customers who derive more than 25% of their revenue from thermal coal

Kelly Ng

Published Sat, Apr 17, 2021 · 05:50 AM

Singapore

DBS will phase out thermal coal exposure by 2039, making it the first Singapore bank to commit to ceasing financing in this area.

Singapore's largest bank announced on Friday that it will stop onboarding new customers who derive more than a quarter of their revenue from thermal coal with immediate effect.

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Singapore banks

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Coal

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Companies & Markets

Companies & Markets

DBS to phase out thermal coal-related lending by 2039

Kelly Ng

KEYWORDS IN THIS ARTICLE

Companies & Markets

Sumitomo to bolster shareholder returns in new mid-term plan

US Fed ‘less hawkish’ than expected; Singapore banks, net cash companies likely to outperform

ST Engineering bags more than S$175 million in contracts to upgrade Singapore’s public bus fleet

ING unveils 2.5 billion euros buyback as profit beats estimates

Prosper Cap halts operations at UK hotel after fire breaks out

DBS chief expects 2024 earnings to hit new highs as Q1 profit rises 15% to S$2.95 billion

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