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DBS Bank showcases sustainability efforts at SFF
A "HANGING garden" is probably the last thing one would expect to see at the Singapore Fintech Festival (SFF).
DBS Bank is showcasing its carbon-neutral booth at SFF this year as part of its sustainability efforts. It will also be recycling used coffee grounds produced at the festival.
The booth comprises a flooring made from 95 per cent compressed recycled straws. Furniture used in the booth was either from the bank's internal inventory or built with material from mushrooms by social enterprise Mycotech, which DBS Foundation supports. The Singapore Environment Council has been appointed independent evaluator to calculate carbon emissions at the booth.
The aforementioned "hanging garden" includes a mix of lipstick plant and ivy. After the festival, the plants will be rehomed to the bank's employees.
Seeking to minimise its carbon footprint, DBS says that steel wires and carpentry pieces used for showcases will also be returned to suppliers, where it can be reused for other events.
The bank has also teamed up with two other social enterprises that are supported by DBS Foundation - Bettr Barista and Edible Garden City.
Bettr Barista provides a specialty coffee education, while Edible Garden City maintains and designs food gardens in Singapore.
Used coffee grounds from the booth and the three SFF cafes will be collected and composted. The compost will then be turned into fertiliser for the bank's gardens. The gardens will be built at DBS Asia Hub in 2020.
The bank expects to collect about 60 kilogrammes of used coffee grounds over three days and it is estimated that the collected coffee grounds will create enough fertiliser for one year.
Decomposing coffee grounds release methane into the atmosphere. Methane is more harmful than carbon dioxide as it has a global warming potential that is 86 times greater than carbon dioxide.
Karen Ngui, head of group strategic marketing and communications at DBS Bank, said: "Creating a world that will last for generations to come will require individuals, organisations and nations to change mindsets and shift priorities, starting with simple changes in everyday habits. At DBS, we believe in sparking initiatives that will help to make meaningful and lasting impact in the communities which we operate in."