Deutsche Bank sets up ESG centre of excellence in Singapore

SINGAPORE (THE BUSINESS TIMES) – Deutsche Bank has established a centre for environmental, social and governance (ESG) issues in Singapore, focusing on innovating at the nexus of ESG and fintech to develop new products addressing gaps in the ESG market.

These include solutions for impact monitoring, data management and payments to unbanked communities, Deutsche Bank said in a press statement on Thursday (May 20).

This ESG Centre of Excellence will house a “sizeable team” that works across all the business divisions of the bank, the statement said.

It will also look at ESG transactions, new product development, and advisory services, including sharing of global best practices with Asian regulators and regional bodies such as Asean and Asia-Pacific Economic Cooperation.

Mr Kamran Khan, the bank’s head of ESG for Asia-Pacific, said the centre will aim to set standards for “evidence-based, data-driven transactions” which can substantiate ESG impact and support sustainable growth.

“The transition of Asia towards sustainable practices requires ESG transaction models, products, solutions and regulatory measures which meet international standards while supporting on-the-ground realities in Asia,” he said.

As calls for Asia to embrace sustainable development grow louder, global financial institutions are increasingly setting up dedicated sustainability teams on this side of the world, with many opting for Singapore as their port-of-call.

Dutch financial firm ING and UK-headquartered global asset manager Aberdeen Standard Investments also have dedicated Asia-Pacific sustainable finance teams based in Singapore.

Investment fund provider Fidelity International’s global head of stewardship and sustainable investing is also based in the city-state.

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