Sustainability Red Flags

Sustainability is woven into the fabric of our business across three pillars to create sustainable outcomes for our stakeholders

As Southeast Asia's largest bank by assets, we are firmly committed to empowering our real estate clients and its suppliers, to build more sustainable and resilient businesses

Sustainability is an integral part of SIA's business operations and strategy and will be anchored across all levels of the organisation.

Female employees accounted for 52.2% of the workforce, while male employees made up 47.8%, a near-equal gender split.

The SIA Group promotes diversity, equity, and inclusion in the workplace, underpinned by progressive policies, processes, and practices that support these values.

SIA and Scoot are proud signatories of the Charter for a Strong and Positive Safety Culture, an initiative by CAAS.

Safety is integral to the Group's ethos, with each employee recognising its importance and contributing to maintaining a safe and secure working environment.

The Group will continue to adjust their network in line with the demand for air travel and cargo.

Around two-thirds of the SIA Group's operating fleet consists of new generation aircraft such as Boeing 787s and Airbus A350s, which are around 25% more fuel efficient than older generation aircraft.

The SIA Group signs an agreement with Neste to purchase 1,000 tonnes of neat SAF. This marks the first direct supply of locally produced SAF to airlines at Singapore Changi Airport.

SIA and Scoot announced their target of replacing 5% of their total fuel requirements with SAF by 2030.

SIA is the first airline to sign the Global Sustainable Aviation Fuel declaration, committing to accelerate the development, production, and consumption of Sustainable Aviation Fuel (SAF).

In May 2021, the SIA Group committed to achieve net zero carbon emissions by 2050.

Best Bank for a Better World

We see sustainability as an active value driver that offers new opportunities, builds resilience against environmental and social risks and strengthens trust with our stakeholders

Partnering with our clients to support Asia's just transition to a low-carbon economy

The Board has overall responsibility for the consideration of sustainability issues in the formulation of DBS' strategy

In 2024, the Board continued to provide oversight on DBS' sustainability agenda, including the determining, monitoring and managing of material ESG factors, guided by the objective to create long-term value by managing our business in a balanced and responsible way

We believe collaborative solutions—integrating innovative technologies, supportive policies, and impactful financing—are key to meeting the growing demand for sustainable workplaces and building a sustainable urban future in Asia

Singtel Group commits to reaching net-zero GHG emissions across our value chain by 2045.

We are the first telco in Asia to have our SBTi targets refreshed with a greater ambition.

Singtel is also the only Asian telecommunications company with a net-zero target ahead of 2050.

We are the first Southeast Asian telecommunications company to achieve the highest A score by CDP.

Our corporate purpose, Empower Every Generation, guides our sustainability framework and four sustainability pillars.

We formally launched in March 2024 our 4D environmental sustainability strategy – Defend, Decarbonise, Dematerialise and Deliver sustainable value.

We have contracted a total of 1,261GWh of renewable energy power purchase agreements (PPAs) from 2025 to 2033 for Singapore and Australia.

In October 2023, we expanded the Risk and Sustainability Committee to provide closer Board oversight of the Group's sustainability risks, opportunities, strategy, performance and disclosures.

Singtel was ranked Asia's most sustainable telecom provider by 2024 Corporate Knights' Global 100 Most Sustainable Corporations.

Singtel was recognised as Singapore's most well-governed and transparent company in the Singapore Governance and Transparency Index in 2023.

Women representation in our Board is at industry leading rate at 46%.

Group engagement score increased by 19% since 2019 to 83%.

Since 2022, our corporate philanthropy programme Singtel Touching Lives Fund (STLF) has been supporting the education of children and youth with special needs in Singapore.

We launched our flagship Women Leadership Programme specifically designed to build, support, and sustain a robust community of senior women leaders

Facilitated over SGD 21 million investments in green funds and ETFs through LiveBetter platform since November 2021

Over SGD 2 million donated through Give Better for environmental and social causes

We approved over 4,400 unsecured loans totalling SGD 665 million to micro and small businesses to support their working capital needs

We developed a personal finance guidance, the DBS Financial Planning Portal, to achieve holistic financial wellness across key life stages

Uplifted Sustainable Sourcing Principles to encourage suppliers to adopt a socially and environmentally restorative approach

SIA does not produce any hazardous waste from its operations.

100% of SIA ground staff completed the UPLIFT suite by end of FY2022/23.

SIA invested $29.6 million in learning and development of employees in SIA during FY2022/23.

Female employees accounted for 49.6% of the workforce as of 31 March 2023.

SIA promotes diversity, equity, and inclusion in the workplace, underpinned by progressive policies, processes, and practices that support these values.

100% of all reported hazards have been investigated and addressed.

0 work-related fatalities and high-consequence work-related injuries for employees and key contractors in FY2022/23.

The safety and well-being of customers and employees have always been SIA's top priority.

SIA will be the launch operator of the A350F, which burns up to 40% less fuel than its current freighters, and is projected to reduce carbon emissions by around 400,000 tonnes annually.

Under the one-year partnership pilot with CAAS and GenZero, 1,000 tonnes of neat SAF was purchased and blended with refined jet fuel, and was uplifted onto SIA And Scoot flights departing from Singapore Changi Airport in July 2022. This use of SAF is expected to reduce carbon dioxide emissions by around 2,500 tonnes.

SAF can potentially reduce lifecycle GHG emissions by at least 80% compared to conventional jet fuel.

Operating a young and modern aircraft fleet remains the most effective way to reduce carbon emissions. The Group operates one of the youngest aircraft fleets in the world, with an average age of six years and nine months.

In May 2021, the SIA Group committed to achieving net zero carbon emissions by 2050.

We brought forward our net-zero goal to 2045 from 2050 and updated our 2030 SBTi targets to ensure that we are aligned to the 1.5°C climate scenario as included in the Paris Agreement

In support of Global System for Mobile Communications Association (GSMA)'s pathway for the ICT and mobile industry and to progressively achieve our net-zero target by 2045, we centre our efforts on reducing energy use, improving energy efficiency and increasing the proportion of electricity consumption backed by renewable energy sources

Singapore became the world's first country to be covered by nationwide standalone 5G last July

Regrettably, in September 2022, Optus suffered a cyber attack which resulted in the exposure of customers' personal information. We are deeply sorry the attack happened. We have learnt a lot from this experience, and have committed to sharing those learnings

We adopt a zero tolerance approach to bribery and corruption of any form, and discrimination and human rights violations across our value chain

Our corporate purpose Empower Every Generation has continued to guide our efforts to create a better world for generations to come

Singtel Touching Lives Fund, our corporate philanthropy programme, which has raised more than S$54 million to date

Singtel Group's Digital Enablement programmes have supported >840,000 beneficiaries since 2015

We materially expanded our client engagement with large corporate customers on climate to deliver on the bold commitments we made in 2022 when we published 'Our Path to Net Zero – Supporting Asia's Transition to a Low Carbon Economy'

Our sustainable financing commitments (for loans and trade finance), net of repayments, was around SGD 70 billion as of December, up from SGD 51 billion in the previous year

We committed up to SGD 1 billion over the next 10 years to improve lives and livelihoods of the low-income and underprivileged, and foster a more inclusive society

Our workforce committed to over 1.5 million volunteer hours over the next decade to give back to society

We cease onboarding new customers who derive more than 25% of their revenue from thermal coal. The threshold will be lowered as time progresses

From January 2026, we will stop financing existing customers who derive more than 50% of revenue from thermal coal, except for their non-thermal coal or renewable energy activities

We are committed to reaching zero thermal coal exposure (encompassing loans to mining and power generation) latest by 2039

As of December 2023, our exposure to thermal coal was SGD 1.8 billion, down from SGD 2.2 billion in 2022 and SGD 2.7 billion in 2021

The Board has overall responsibility for the formulation of DBS' sustainability strategy and directs efforts in managing material ESG factors, guided by the objective to create long-term value

The Board Sustainability Committee was established in 2022 to provide greater governance and oversight on sustainability agenda, including our net zero commitment, which is a strategic priority for the bank

We enhanced the ESG Risk Questionnaire to specifically assess customers on human rights issues including forced labour, child labour, labour practices and community rights

We developed an Environmental and Social Incident Management Guide in 2023 to formalise approach to E&S incidents and ensure timely and appropriate response

Since 2018, we have rolled out mandatory Responsible Financing e-Learning training to all Relationship Managers and Credit Risk Managers with 87% completion rate among those assigned in 2023

In 2023, we further expanded our pilot to assess climate-related transition risks and physical risks in the Real Estate sector

We established strategic partnerships with industry leaders including H&M Group to accelerate adoption of green initiatives across fashion supply chain and with CLP Power to support SMEs' low-carbon transition

We engaged over 1,000 SMEs through various sustainability training courses and programmes to develop their capability and capacity

We achieved Green Mark Platinum certification for over 80% of manned retail branches in Singapore

The DBS Foundation awarded SGD 3.7 million in grant funding to 24 SMEs and social enterprises through its Business for Impact Chapter

The DBS Foundation committed SGD 5.6 million to support 11 new programmes to build future-ready skills and food security among vulnerable segments

Delivered over 200,000 employee volunteering hours reaching over 150,000 beneficiaries

Subsidised 4.67 million meals through DBS PayLah! weekly hawker meal initiative

We established the Employee Experience Council to drive four key employee journeys: employee well-being, workload, assimilation of new hires and rewards & recognition

The A350F uses up to 40% less fuel on similar missions compared to the 747-400F, reducing SIA's carbon emissions by around 400,000 tonnes annually.

In September 2022, DBS unveiled a net-zero plan, which is one of the most comprehensive in scope in the global banking industry

DBS achieved carbon neutrality in our operations as at end-2022

Our sustainable finance portfolio was SGD 61 billion, exceeding our target well ahead of 2024

DBS refurbished an old office in Newton into Singapore's first net-zero building by a bank

As part of the implementation roadmap, DBS will proactively partner our customers with advisory and financial solutions to accelerate their transition to a lower-carbon future

The nine sectors represent the most carbon-intensive institutional banking segments financed by DBS and constitute the vast majority of the Institutional Banking Group's (IBG's) financed emissions

In 2022, 99.6% of our employees have undergone training, with 8,339 employees in the process of going through upskilling and reskilling

21.0% of our HIPOs took on a new role while 36.4% have an enlarged role

In May 2021, SIA committed to achieve net zero carbon emissions by 2050. This reinforces our long-standing strategy of working towards decarbonisation and environmental sustainability across our operations.

Sustainability is at the heart of our journey, and we continue to focus on our decarbonisation, waste management, and community engagement goals despite the impact of the pandemic on our business.

The SIA Group's aircraft fleet is one of the youngest in the industry with an average age of six years and three months and it continues to invest in new generation aircraft.

Sustainable Aviation Fuels (SAF) are a key decarbonisation lever, and a critical pathway for the success of the SIA Group's commitment to achieve net zero carbon emissions by 2050.

In FY2021/22, the Group harvested 24,039.63m³ of groundwater and rainwater that was channelled to sanitary flushing and irrigation purposes, meeting 88% of the total demand for non-potable water at its headquarters in Singapore.

SIA and Scoot were awarded the highest 5-Star rating in Skytrax's Covid-19 Airline Safety Audit in August 2021, in recognition of our industry-leading response to enhance the health and safety of customers and staff.

In FY2021/22, SIA launched its Corporate Social Responsibility (CSR) Day for Singapore-based employees to participate in community engagement programmes. Over 1,350 SIA employees volunteered their time at organisations.

We believe in giving back to society and strengthening our relationships with the communities that we serve in Singapore and around the world.

SIAEC's engine test facility successfully performed engine tests using blended sustainable aviation fuel that produced 32% lower carbon emissions, compared to conventional fossil jet fuel.

We completed our first comprehensive Task Force on Climate-related Financial Disclosures (TCFD) climate scenario analysis for our Singapore and Australian operations. Singtel is one of a handful of progressive Singapore companies to issue a comprehensive TCFD report.

During the year, we also completed our first full Scope 3 assessment of our greenhouse gas (GHG) emissions, helping us identify the source of our emissions. Collectively, our top three categories of purchased goods and services, capital goods and investments comprise approximately 94% of our Scope 3 indirect GHG emissions.

We are planning our roadmap to achieve net zero emissions by 2050.

As part of our efforts to reduce emissions from our operations and factor in externalities such as carbon taxes, we piloted an internal carbon price at S$50 per tonne of carbon dioxide.

Female employees account for a third of our total workforce and 40% of our management. Over 30% of our Board of Directors are women, compared to an average of 12% in most companies.

We were one of five companies in Singapore to be recognised in the 2022 Bloomberg Gender-Equality Index for the fourth year running.

In a survey, 82% of our people said they were satisfied with our support for their well-being, in line with the responses achieved by top international employers.

The Group's investment in training rose to more than S$19 million, up from approximately S$17 million a year ago. Average training hours grew by 31% year-on-year to 43 hours per employee.

Singtel Touching Lives Fund has raised more than S$50 million in support of special needs education since it was set up in 2002.

Digital enablement programmes in Singapore and Australia have supported >740,000 beneficiaries since 2015.

In November 2021, we published our first Singtel Group Human Rights Statement, which reaffirms our commitment to upholding the human rights of all individuals in our organisation and supply chains.

We revised our Supplier Code of Conduct in tandem with the publication of this Statement, with improved clarity on our corporate governance policies and requirements of our suppliers in the areas of human rights, business ethics and data privacy.

NCS' data centre is one of the largest single-roof solar-powered data centres in Southeast Asia. Today, it generates enough solar energy to power 503 four-room HDB flats for a month and reduces 914 tonnes of carbon emissions a year.

Since April 2021, DBS has ceased onboarding new customers that derive more than 25% of their revenue from thermal coal, and will lower the threshold as time progresses

DBS was the first Singapore bank to commit to zero thermal coal exposure by 2039

We've armed the elderly and those in need with digital skills and tools to ensure they have not been left behind as communities migrated online due to safe distancing.

Singtel adopts a zero tolerance approach to bribery and corruption in any form

While we pursue business growth, we remain committed to pushing ahead in our sustainability priorities and building an inclusive digital future.

Drive digital access, literacy and inclusion

Firm commitment to decarbonisation

Our purpose: Harnessing technology to empower people and businesses and create a more sustainable future

We are mindful that our value creation should be for the long haul. With one of the strongest franchises in Singapore, Australia and the region, it behoves us to make a positive impact on the diverse communities that we serve and operate in.

Besides supporting global climate action by minimising our carbon footprint with greener technologies, we're embedding more conscious climate deliverables such as green financing into our agenda.

In May 2021, SIA committed to a net zero carbon emissions target by 2050, reinforcing its long-standing strategy of working towards decarbonisation and environmental sustainability across its operations

Our Climate Action Pledge and Sustainability Policy reaffirm our dedication towards protecting the environment and adopting of sustainable practices in all aspects of our operation to drive sustainable development

The new meal concept involves the replacement of single-use plastic packaging with alternative sustainable materials. Leftovers on the tray, including the new serviceware, can be processed by an onsite eco-digester into pellets that can be used as refuse-derived fuel

Singapore Airlines aspires to be a purpose-led organisation that uses our business as a force for good

Both SIA and Scoot were awarded the Diamond rating – the highest level attainable – in a global audit conducted by the Airline Passenger Experience Association (APEX) and aviation strategy firm SimpliFlying

SIA became the world's first airline to pilot the International Air Transport Association's (IATA) Travel Pass mobile application for digital health verification

Efforts in fuel productivity and savings have helped to reduce approximately 28,382 tonnes of CO2 across our fleet

DBS became the first Singapore bank to become a signatory to the United Nations-convened, industry-led Net-Zero Banking Alliance, committing to transitioning operational and attributable greenhouse gas emissions from lending and investment portfolios to align with pathways to net zero by 2050 or sooner

We feel that if we are to be truly customer-obsessed, then we must manage by customer journeys

Our confidence in meeting this ambitious goal stems from five steps we took before our pledge that establish a clear line of sight over short and medium-term milestones

We committed SGD 20.5 billion in sustainable financing transactions in 2021, taking our cumulative efforts to date to SGD 39.4 billion against our sustainable financing target of SGD 50 billion by 2024

In 2021, we established a Board Sustainability Committee to provide greater governance and oversight into climate-related risks and opportunities, as well as our broader environmental, social and governance efforts

banks will be pushed to having a sustainability agenda that addresses each of the ESG pillars and is integral to their strategy and operating models.

We are already advanced on our journey of responsible banking, responsible business practices and creating social impact.

The Board will continue to build on the element of diversity, recognizing the importance of having an effective and diverse Board.

The Board is committed towards building diversity amongst its members, taking initiatives to select and appoint suitably qualified persons as Directors regardless of gender, age, ethnicity, religion or other dimensions of diversity.

Since 2017, over 30 million KrisFlyer miles have been redeemed to fulfil the travel wishes of Make-A-Wish beneficiaries and their families.

The solar systems are expected to be commissioned in the second quarter of FY2020/21 and will generate clean energy to support up to 18 per cent of the buildings' electricity demand.

The BEST App will help to save more than 3.1 million pieces of paper annually.

SIA has completely replaced all plastic straws on board its aircraft with environmentally-friendly paper straws, plastic swizzle sticks with wood-based ones, polybags for children's toys with recyclable paper packaging, and paper cups with reusable cups.

The use of a blend of jet fuel and SAF on SIA's Airbus A350-900 aircraft on this route will replace 1 per cent of the aircraft's fuel requirements with sustainable fuels, reducing carbon emissions by an estimated 94,000kg tonnes over the year.

In FY2019/20, SIA successfully developed a new data-driven approach to determine the optimal amount of contingency fuel needed for each flight.

SIA has one of the youngest operating passenger fleets in the world comprising 122 aircraft, with an average age of five years and five months.

Each new generation of aircraft being, on average, 20 per cent more fuel-efficient than the model it replaces.

SIA supports the International Air Transport Association's (IATA) three climate targets, and has adopted a Four-Pillar Strategy to reduce the carbon footprint of our operations.

SIA's Climate Action Pledge shows our commitment to our long-term responsibility to protect the environment while providing air transportation services of the highest quality.

SIA recognises the realities of global warming trends and the consequential adverse impact on aviation safety. The scientific consensus on climate change is clear and requires the collective transformation of the entire aviation value chain to mitigate our impact on the planet.

Our goal is to create value for all our stakeholders

Singtel aspires to the highest standards of corporate governance as we believe that good governance supports long-term value creation

We contributed S$10m to the community in Singapore and Australia

We recycled 26,000kg of electronic waste in FY 2020 in Singapore and Australia

We were ranked one of the most sustainable corporations in the world by Corporate Knights (Top 100 in 2020 Global 100 World's Most Sustainable Corporations)

We pledged to boost the digital skills of our Singapore workforce over three years for S$45m

We have endorsed the Task Force on Climate-related Financial Disclosures' voluntary framework and are working towards meeting its standards

We will continue to lower our own carbon footprint (mostly from our data centres and our property occupancy) and work with our corporate clients to facilitate their move to lower carbon intensive business models.

DBS published the Sustainable and Transition Finance Framework and Taxonomy – a first in the world by a bank – which serves as a transparent reference to guide clients on adapting and building resilience in the face of global challenges such as climate change and resource scarcity.

DBS became the first Singapore bank to offer transition financing to help companies implement long-term changes to become greener.

We are committed to supporting our customers, employees and the community towards a sustainable future.