DBS Bank India is developing the factors for businesses to plan for a better recovery at the intersection of digitization, supply chain management and net zero goals, including its commitment to zero food waste. Financing a new green world, this discussion helps to make sense of how to bring together multiple objectives in the transition to a low carbon business strategy
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In recent years, climate change and sustainability have been increasingly integrated into government initiatives and business plans. However, to undertake the transition to carbon-free operations, companies need the knowledge and step-by-step solutions of a responsible financing partner, and this is why Asia’s safest bank believes that a recovery sustainable business must be driven by bankers.

“Financing for sustainability must go beyond the first level of financing and is not just about financing. Businesses need to embrace digital platforms to bring in data, and that data can improve visibility to ensure ongoing support. Large companies also need to ensure that their suppliers and their supplier ecosystem are also practicing sustainability. And funding is essential to ensure this transformation, ”Divyesh Dalal, head of global transaction services at DBS Bank India told Business Insider US in a webinar. Besides textiles and energy, DBS also wants to support agriculture, transport and various sectors in planning for a net zero future.

Food security and reduction of food waste

Anil Jena, senior vice president of Olam Agro, also says that financing is the key to the success of a sustainable business strategy in a world where resources are scarce. The food company is undertaking a key pilot project in northern Uttar Pradesh and parts of Haryana to boost sustainable rice production on 10,000 acres.

“We all know that rice consumes a lot of groundwater. In addition to providing technology, we also help improve purchases that are well above the minimum support price. However, we need help providing pre-shipment financing to farmers so that we can align the entire ecosystem of smallholder farmers, traders and suppliers, ”Jena said.

Enabling zero food waste throughout the supply chain is one of the main focus areas of sustainable finance for DBS Bank, which also works with innovative startups in this area with new technologies. In 2020 itself, the bank created 200,000 kilos of food impact by reducing, recycling and redistributing. “One interesting project is to fund a company specializing in technology designed to optimize milk production by educating farmers about when to milk cows by measuring temperature and other factors,” said Dalal.

In another initiative, DBS Bank India is working to provide additional livelihood opportunities for rural households by working with women micro-entrepreneurs. The project involves the processing of fruits and vegetables rejected by retail sale, but perfectly edible. In this project, a social enterprise supported by DBS, S4S Technologies, is providing solar-powered dehydrators for the processing units, which will be set up by women entrepreneurs. Launched on August 21, the project should prevent the loss of more than 200 tonnes of fruit / vegetables by the end of 2021.

Digitization paves the way for net zero transformation



With a legacy of developing Singapore’s digitization prowess, DBS finances small and medium-sized businesses across India, helping them adopt new technologies, contactless modes and digital solutions that not only make access easier. credit, but also bring transparency and traceability to transactions. “Digitization and sustainability go hand in hand. It also helps level 3 and 4 supply chains to deepen further, ”said Dalal.

In addition to reducing the contribution of agricultural and food waste to GHG emissions, the switch to clean energy is essential to limit the carbon impact and manage emissions targets. In addition to encouraging electric vehicles, expanding the wind and solar power generation base is also needed to close the gap in tackling climate change. To keep dispersed clean energy sources at bay, digitization is crucial, Juvenil Jani, CFO of Sembcorp India, told Business Insider.

“We have over 1,000 turbines spread over thousands of acres. To maintain and optimize these turbines, we monitor, control, shut down and rectify them virtually on our platform. We track every component remotely and almost all maintenance except part replacement can be done remotely. In times of excessive wind, we also change their movement in the right direction, ”Jani informs.

Clean energy sources, unlike traditional sources, are dispersed in all areas and putting them under digital surveillance can therefore optimize their operation and thus improve their contribution to a more sustainable future.

India presents a significant opportunity in the sustainable finance space, and DBS aims to partner with high impact companies to propel development while contributing to environmental resilience. “The emphasis is on financing projects that allow us to generate economic value in line with our responsible banking ethics. Adds Dalal.

To sum up, as businesses reset and seek to mitigate the risks of climate change in an ever-changing normal, finance is a driver, but digitization is a key catalyst on the path to a responsible resurgence.

Disclaimer: This is a sponsored article in partnership with DBS Bank India

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