Dbs And Reset Carbon Partner To Scale Up Decarbonisation Solutions In Asia's Manufacturing Supply Chain

(MENAFN- media OutReach Newswire) HONG KONGR - Media OutReach - 14 September 2023 - DBS and RESET Carbon (RESET) announced a partnership to fo efforts on accelerating the adoption of decarbontion and tainability solutions in the apparel, footwear and textile (AFT) supply chain. Thellaboration was formalised with a memorandum of understanding (MOU) that was inked today, innjunction with the ReThink HK tainable inessnference & Expo.

Yulanda Chung, Managing Director, Head of tainability, Institutional Banking Group at DBS (left) and Liamlter, CEO of RESET Carbon (right) today signed a memorandum of understanding (MOU) at ReThink HK tainable iness onnference & Expo to scale up decarbontion solutions in Asia's manufacturing supply chain.
Arding to the United Nations Environment Programme, the trillion-dollar fashion intry aunts for up to 8% of global carbon emissions[1] . Of this, upstream activities within the supply chain including materials production, preparation and processing, aunt for an estimated 80% of emissions[2] . While apparel brands have made strides to reduce emissions[3] in their own operations to be in line with theirmitments, decarbonising supply chainsntinues to be a hurdle.

To enable and accelerate tainable growth in the AFT sector, DBS and RESET aim to work with both buyers and suppliers, including small and medium enterprises, in Asia's manufacturing supply chain. AFT brands can access RESET's advisory services and technical support to drive carbon reductions in their supply chains, set science-based carbon targets, as well as strengthen in-he capabilities. DBS will provide financing solutions to suppliers to invest inst-effective technologies that enable meaningful reductions in their factory emissions, watere and waste.

In addition,panies can participate in the Carbon Leadership Program (CLP) developed by RESET and the Apparel Impact Institute (Aii). The three-year-old program is designed to help apparel brands and their suppliers set science-based carbon reduction targets. Action plans are then developed through benchmarking and assessments,ing a set of standardised tools andllaborative processes.

To date, over 20 of some of the world's largest apparel brands have participated in the program – representing up to three million tonnes of2 avoided per year, if the action plans are fully implemented.

Yulanda Chung, Managing Director, Head of tainability, Institutional Banking Group at DBS ,id, "Joining forces with an experienced intry practitioner like RESET is a signal that we mean to effect changes in the real nomy rather than offering soundbites. The apparel sector is looking for solutions, in both finance and resource efficiency advisory, to mitigate the harmful impacts of fast-changing fashion. This partnership brings together DBS' extensive Asiawork, expertise in tainable finance with RESET's successful Carbon Leadership Program."

Liamlter, CEO of RESETid, "RESET's mission is to drive significant carbon reductions in our tomers' value chains. With financing increasingly seen as an integral part of the solution, we are excited to partner with DBS who we view as the most innovative bank in the region to develop new solutions for ourllective tomers."

Named World's Best Bank forrporate Responsibility[4] , DBS offers support torporate and institutional clients through a range of tainable finance solutions , from renewable energy financing, green loans, tainability-linked loans, ESG bonds, green and tainable trade financing.


[1]

[2] Arding to findings in the report "Fashion on climate" authored by McKinsey &pany (McKinsey) in partnership with Global Fashion Agenda (GFA)

[3]

[4] DBS is rgnised as the world's best bank forrporate responsibility by Euromoney magazine in its Euromoney Awards for Excellence 2023
Hashtag: #DBS
The issuer is solely responsible for thentent of this announcement. 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.

Rgnised for its global leadership, DBS has been named " " by Global Finance, " " by Euromoney and " " by The Banker. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named " " by Euromoney and the world's " " by The Banker. In addition, DBS has been arded the " " award by Global Finance for 14nsecutive years from 2009 to 2022.

DBS provides a full range of services innsumer, SME andrporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing iness in the region's most dynamic markets. DBS ismitted to building lasting relationships with tomers, as it banks the Asian way. Through the DBS Foundation, the bank creates impact beyond banking by supporting social enterprises: inesses with a double bottom-line of profit and social and/or environmental impact. DBS Foundation also gives back to society in vari ways, including equippingmunities with future-ready skills and building food resilience.

With its extensivework of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit .

About RESET Carbon

For over 14 years, RESET Carbon has been working withpanies and institutions across Asia to resolve the environmental crisis by making meaningful reductions in their carbon, water and waste footprint.

Headquartered in Hong Kong, with offices in Shanghai, Shenzhen, Taipei, Ho Chi Minh City, Chennai, and Munich, RESET delivers end-to-end carbon management andrporate renewable energy services for tomers in the real estate, manufacturing, and retail sectors. Their services include strategy development, target setting, roadmap and carbon inventory development, renewable energy procurement, decarbonization programs and more. For more information please visit:

MENAFN14092023003551001712ID1107074225