DBS Bank has launched LiveBetter – a one-stop digital platform where users can access ecofriendly tips, donate to local green causes, as well as invest in sustainability-themed funds.
Available via the bank’s digibank app, the eco-conscious platform will in January be updated to include a carbon calculator, that automatically generates carbon footprint profiles and insights based on customers’ spending patterns.
The bank is also developing a function that will enable customers to purchase carbon credits to offset their carbon footprint.
Jeremy Soo, head of consumer banking group at DBS Bank, says: “To encourage customers to adopt sustainable living habits, we take care to provide accessible green offerings that are highly competitive and easy to adopt. This approach has been borne out in the findings from our recent DBS Consumer Sustainability Survey, where 73% of respondents indicated a willingness to change their lifestyle to live more sustainably only if it was convenient for them. By embedding LiveBetter into DBS digibank, our customers can now easily access ways to live green with a few simple taps.”
In the lead up to the United Nations (UN) climate-focused COP26 conference, DBS became the first Singapore bank to become a signatory on the UN-convened, industry-led Net-Zero Banking Alliance (NZBA) and comitted to align lending and investment portfolios with net zero emissions by 2050.