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DBS to end 'dirty coal' lending, but resists all-out ban

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Published Thu, Feb 8, 2018 · 09:50 PM

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    Singapore

    DBS will end financing of projects linked to "dirty coal" by year-end, but is resisting pressure from environmental groups to cut existing lending to build coal-fired plants.

    Southeast Asia's most valuable company by market cap will continue to finance projects in emerging markets that burns "higher quality" coal, while simultaneously start building out a portfolio of renewable energy projects to shift the mix of its loans, its CEO Piyush Gupta said at the bank's results briefing on Thursday.

    DBSSingapore banks

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