DBS Group Holdings Ltd.
24/07/2024 | Press release | Archived content
Bank DBS Indonesia's sustainability commitment to issues from waste management to food security | Indonesia.24 Jul 2024.0 min read
Bank DBS Indonesia's sustainability commitment to issues from waste management to food security | Bahasa
Indonesia.24 Jul 2024.0 min read
MYCL processes 500,000 kg of agricultural waste and 'goes international' to participate in Paris Fashion Week
eFishery's sales have more than doubled since 2022
Bank DBS Indonesia's 'Trust Your Spark' campaign ignites sustainability 'spark'
Indonesia, 24 Jul 2024 - On its 35th anniversary celebrations, Bank DBS Indonesia organised the 'Trust Your Spark' campaign with the aim of igniting and empowering the 'spark' within everyone so that they can pursue their dreams and achieve all their aspirations with confidence. Beyond servings its customers, Bank DBS Indonesia also helps sustainable companies like MYCL and eFishery to ignite their spark to contribute and change the world. This is consistent with Bank DBS Indonesia's sustainability pillars, namely Responsible Banking, Responsible Business Practice and Impact Beyond Banking, that provide the underlying rationale for lighting the 'spark' of sustainability.
By integrating business strategies with social and environmental missions, social enterprises play an important role in supporting the UN Sustainable Development Goals (UN SDGs). These include ending poverty and hunger by creating jobs, supporting local economies, and improving food distribution and food security. By encouraging innovation and supporting local economies, especially the informal sector, social entrepreneurs accelerate economic growth and create decent jobs. Social enterprises are also involved in marine and biodiversity conservation as well as climate action.
MYCL, a social enterprise that received grant funding from the DBS Foundation Social Enterprise (SE) Grant programme in 2016 and 2018, has a mission to reduce agricultural waste and maintain ecosystem sustainability. With regard to waste management, MYCL can can utilise 500,000 kg of agricultural waste as raw materials per year, reduce waste in final disposal sites (or landfills) by 73,974 kg per year, and reduce carbon emissions by 64,184.88 tCO2-e. Recently, MYCL has successfully developed mushroom-based eco-friendly products for the fashion industry and buildings, namely Biobo and Mylea™.
"The grant funding allowed us to increase our production capacity from 100 sqft per year to 10,000 sqft per year. In addition, we are also expanding our global reach to 48 countries and showcasing our work at Paris Fashion Week 2024 in collaboration with Doublet, a Japanese fashion brand. It all started with a 'spark' to reduce agricultural waste, reduce carbon emissions, and save water to maintain ecosystem sustainability," said MYCL Founder & CEO Adi Reza Nugroho.
Similarly, Bank DBS Indonesia strives to deliver positive impact beyond banking through various initiatives, such as the DBS Foundation Grant programme that enables MYCL to address social and environmental challenges by using its 'spark' or 'calling' to create a better world.
Head of Group Strategic Marketing & Communications of PT Bank DBS Indonesia Mona Monika said, "By sticking to its vision and 'spark', MYCL has made remarkable progress. We believe that collaboration with social enterprises can have a positive impact and accelerate a more sustainable future. This is where Bank DBS Indonesia's role and 'spark' comes in, to facilitate and support sustainable businesses, which is also in line with our vision to be the 'Best Bank for a Better World'."
Bank DBS Indonesia through DBS Foundation is once again inviting social entrepreneurs and small and medium enterprises (SMEs) to apply for the DBS Foundation Grant from July 15 to August 15, 2024. Starting in 2024, grants will be awarded to social enterprises and SMEs that provide innovative solutions to help create a more inclusive world and bring change to vulnerable communities in Asia. Selected social enterprises and SMEs will receive grants of up to SGD250,000. The grant programme is part of the third pillar, ImpactBeyond Banking.
Beyond providing grants, in an effort to advance social enterprises, Bank DBS Indonesia also incorporates them into the bank's ecosystem through the implementation of responsible procurement or Sustainable Procurementas part of the second pillar, Responsible Business Practice.
ESG-based Sustainable Financing
As a manifestation of the first sustainability pillar, Responsible Banking, Bank DBS Indonesia actively supports Environment, Social, and Governance (ESG)-based projects. This is done by, among other things, providing short-term funding (loan) worth IDR500 billion for eFishery, the first aquatech startup company in Indonesia and Asia in October 2022. eFishery used the grant to expand its business. Today, it does business in 280 cities/districts in Indonesia and has also been able to double the sales of crops. In addition, eFishery has also exported shrimp and tilapia to the U.S.
eFishery Chief Product Officer Chrisna Aditya stated that 'spark' encourages eFishery to address food issues and reduce social and economic inequalities through an inclusive digital economy. "We were able to transform the conventional business model into a more efficient and modern one with the help of Bank DBS Indonesia. As a result, eFishery's crop sales have increased significantly since the loan disbursement in 2022. Going forward, we will continue to build the local aquaculture industry together with fish farmers, shrimp farmers, and other stakeholders. In addition, we will penetrate overseas markets, including entering several countries currently under our consideration, such as several states in the US and a number of countries in Asia and the Middle East)."
As companies are becoming more aware of the need to combat global warming and achieve Net Zero Emissions by 2060, more companies are transitioning to greener operations. As a 'Trusted Advisor for Transition Financing', Bank DBS Indonesia helps customers decarbonise their business operations through various financial solutions and acts as a mediator. In 2023, Bank DBS Indonesia provided a total of IDR6.1 trillion in funds for various ESG-based projects, including in the energy, real estate and automotive sectors.
For more information on the DBS Foundation Grant 2024 programme and application guidelines, visit the following page: dbs.com/foundation/grants/
About DBS Foundation
Established in 2014, DBS Foundation is committed to uplifting lives and livelihoods of those in need. It provides essential needs to the underprivileged, and fosters inclusion by equipping the underserved with financial and digital literacy skills. It also nurtures innovative social enterprises that create positive impact. It aims to bring hope to those with less today, so no one is left behind and we can all face the future with confidence.
In 2024, DBS committed up to SGD 1 billion dollars over the next decade to support vulnerable communities. It also pledged to contribute 1.5 million employee volunteer hours over the same period.
Together with an ecosystem of like-minded partners, DBS Foundation seeks to create impact that goes beyond banking, beyond borders, and beyond generations.
For more information, please visit: www.dbs.com/dbsfoundation.
About DBS
DBS is a leading financial services group in Asia with a presence in 19 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world.
Recognised for its global leadership, DBS has been named "World's Best Bank" by Global Finance, "World's Best Bank" by Euromoney and "Global Bank of the Year" by The Banker. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named "World's Best Digital Bank" by Euromoney and the world's "Most Innovative in Digital Banking" by The Banker. In addition, DBS has been accorded the "Safest Bank in Asia" award by Global Finance for 15 consecutive years from 2009 to 2023. DBS Indonesia is ranked second in the top as World's Best Bank in Indonesia for three consecutive years from 2020 to 2022.
Established in 1989 as part of the Singapore-based DBS Group, PT Bank DBS Indonesia (Bank DBS Indonesia) is one of the banks with the longest history in Asia. Currently operating 1 Head Office, 13 Branch Offices, 16 Assistant Offices and 4 Functional Offices and 3,011 active employees in 15 Major Cities in Indonesia, Bank DBS Indonesia provides comprehensive banking services in the corporate, SME and consumer banking segments that focuses on the customer experience to 'Live more, Bank less'. We also see a purpose beyond banking and are committed to supporting our customers, employees and the community towards a sustainable future.
PT Bank DBS Indonesia is licensed and supervised by The Indonesian Financial Services Authority (OJK), and an insured member of Indonesia Deposit Insurance Corporation (LPS).
DBS is committed to building lasting relationships with customers, as it banks the Asian way. Through the DBS Foundation, the bank creates impact beyond banking by supporting businesses for impact: enterprises with a double bottom-line of profit and social and/or environmental impact. DBS Foundation also gives back to society in various ways, including equipping underserved communities with future-ready skills and helping them to build food resilience.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit www.dbs.com.
By integrating business strategies with social and environmental missions, social enterprises play an important role in supporting the UN Sustainable Development Goals (UN SDGs). These include ending poverty and hunger by creating jobs, supporting local economies, and improving food distribution and food security. By encouraging innovation and supporting local economies, especially the informal sector, social entrepreneurs accelerate economic growth and create decent jobs. Social enterprises are also involved in marine and biodiversity conservation as well as climate action.
MYCL, a social enterprise that received grant funding from the DBS Foundation Social Enterprise (SE) Grant programme in 2016 and 2018, has a mission to reduce agricultural waste and maintain ecosystem sustainability. With regard to waste management, MYCL can can utilise 500,000 kg of agricultural waste as raw materials per year, reduce waste in final disposal sites (or landfills) by 73,974 kg per year, and reduce carbon emissions by 64,184.88 tCO2-e. Recently, MYCL has successfully developed mushroom-based eco-friendly products for the fashion industry and buildings, namely Biobo and Mylea™.
"The grant funding allowed us to increase our production capacity from 100 sqft per year to 10,000 sqft per year. In addition, we are also expanding our global reach to 48 countries and showcasing our work at Paris Fashion Week 2024 in collaboration with Doublet, a Japanese fashion brand. It all started with a 'spark' to reduce agricultural waste, reduce carbon emissions, and save water to maintain ecosystem sustainability," said MYCL Founder & CEO Adi Reza Nugroho.
Similarly, Bank DBS Indonesia strives to deliver positive impact beyond banking through various initiatives, such as the DBS Foundation Grant programme that enables MYCL to address social and environmental challenges by using its 'spark' or 'calling' to create a better world.
Head of Group Strategic Marketing & Communications of PT Bank DBS Indonesia Mona Monika said, "By sticking to its vision and 'spark', MYCL has made remarkable progress. We believe that collaboration with social enterprises can have a positive impact and accelerate a more sustainable future. This is where Bank DBS Indonesia's role and 'spark' comes in, to facilitate and support sustainable businesses, which is also in line with our vision to be the 'Best Bank for a Better World'."
Bank DBS Indonesia through DBS Foundation is once again inviting social entrepreneurs and small and medium enterprises (SMEs) to apply for the DBS Foundation Grant from July 15 to August 15, 2024. Starting in 2024, grants will be awarded to social enterprises and SMEs that provide innovative solutions to help create a more inclusive world and bring change to vulnerable communities in Asia. Selected social enterprises and SMEs will receive grants of up to SGD250,000. The grant programme is part of the third pillar, ImpactBeyond Banking.
Beyond providing grants, in an effort to advance social enterprises, Bank DBS Indonesia also incorporates them into the bank's ecosystem through the implementation of responsible procurement or Sustainable Procurementas part of the second pillar, Responsible Business Practice.
ESG-based Sustainable Financing
As a manifestation of the first sustainability pillar, Responsible Banking, Bank DBS Indonesia actively supports Environment, Social, and Governance (ESG)-based projects. This is done by, among other things, providing short-term funding (loan) worth IDR500 billion for eFishery, the first aquatech startup company in Indonesia and Asia in October 2022. eFishery used the grant to expand its business. Today, it does business in 280 cities/districts in Indonesia and has also been able to double the sales of crops. In addition, eFishery has also exported shrimp and tilapia to the U.S.
eFishery Chief Product Officer Chrisna Aditya stated that 'spark' encourages eFishery to address food issues and reduce social and economic inequalities through an inclusive digital economy. "We were able to transform the conventional business model into a more efficient and modern one with the help of Bank DBS Indonesia. As a result, eFishery's crop sales have increased significantly since the loan disbursement in 2022. Going forward, we will continue to build the local aquaculture industry together with fish farmers, shrimp farmers, and other stakeholders. In addition, we will penetrate overseas markets, including entering several countries currently under our consideration, such as several states in the US and a number of countries in Asia and the Middle East)."
As companies are becoming more aware of the need to combat global warming and achieve Net Zero Emissions by 2060, more companies are transitioning to greener operations. As a 'Trusted Advisor for Transition Financing', Bank DBS Indonesia helps customers decarbonise their business operations through various financial solutions and acts as a mediator. In 2023, Bank DBS Indonesia provided a total of IDR6.1 trillion in funds for various ESG-based projects, including in the energy, real estate and automotive sectors.
For more information on the DBS Foundation Grant 2024 programme and application guidelines, visit the following page: dbs.com/foundation/grants/
About DBS Foundation
Established in 2014, DBS Foundation is committed to uplifting lives and livelihoods of those in need. It provides essential needs to the underprivileged, and fosters inclusion by equipping the underserved with financial and digital literacy skills. It also nurtures innovative social enterprises that create positive impact. It aims to bring hope to those with less today, so no one is left behind and we can all face the future with confidence.
In 2024, DBS committed up to SGD 1 billion dollars over the next decade to support vulnerable communities. It also pledged to contribute 1.5 million employee volunteer hours over the same period.
Together with an ecosystem of like-minded partners, DBS Foundation seeks to create impact that goes beyond banking, beyond borders, and beyond generations.
For more information, please visit: www.dbs.com/dbsfoundation.
About DBS
DBS is a leading financial services group in Asia with a presence in 19 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world.
Recognised for its global leadership, DBS has been named "World's Best Bank" by Global Finance, "World's Best Bank" by Euromoney and "Global Bank of the Year" by The Banker. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named "World's Best Digital Bank" by Euromoney and the world's "Most Innovative in Digital Banking" by The Banker. In addition, DBS has been accorded the "Safest Bank in Asia" award by Global Finance for 15 consecutive years from 2009 to 2023. DBS Indonesia is ranked second in the top as World's Best Bank in Indonesia for three consecutive years from 2020 to 2022.
Established in 1989 as part of the Singapore-based DBS Group, PT Bank DBS Indonesia (Bank DBS Indonesia) is one of the banks with the longest history in Asia. Currently operating 1 Head Office, 13 Branch Offices, 16 Assistant Offices and 4 Functional Offices and 3,011 active employees in 15 Major Cities in Indonesia, Bank DBS Indonesia provides comprehensive banking services in the corporate, SME and consumer banking segments that focuses on the customer experience to 'Live more, Bank less'. We also see a purpose beyond banking and are committed to supporting our customers, employees and the community towards a sustainable future.
PT Bank DBS Indonesia is licensed and supervised by The Indonesian Financial Services Authority (OJK), and an insured member of Indonesia Deposit Insurance Corporation (LPS).
DBS is committed to building lasting relationships with customers, as it banks the Asian way. Through the DBS Foundation, the bank creates impact beyond banking by supporting businesses for impact: enterprises with a double bottom-line of profit and social and/or environmental impact. DBS Foundation also gives back to society in various ways, including equipping underserved communities with future-ready skills and helping them to build food resilience.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit www.dbs.com.