DBS Bank India Facilitates Sustainable Financing for RSPO-Certified Palm Oil

DBS Bank India has made significant strides in responsible banking by facilitating a sustainable financing transaction for Louis Dreyfus Company India Pvt Ltd (LDC) to procure RSPO-certified palm oil. This milestone was achieved through DBS Bank Limited, Singapore, using the innovative Supplier Payment Services (SPS) solution.

In a move that echoes its dedication to sustainable banking practices, DBS Bank India has enabled a sustainable financing transaction for the procurement of RSPO-certified palm oil by Louis Dreyfus Company India Pvt Ltd (LDC). The transaction was facilitated by DBS Bank Limited, Singapore, using the bank’s Supplier Payment Services (SPS) solution.

The SPS solution permits early payment options to suppliers, bolstering their financial stability and alleviating cash flow pressures. This, in turn, fosters a more resilient and stable supply chain.

Divyesh Dalal, Managing Director & Head of Global Transaction Services at DBS Bank India, underscored the importance of sustainable financing in driving positive environmental and societal change. “The DBS SPS solution offers clients an opportunity to promote responsible sourcing practices while preserving liquidity,” he said.

DBS Bank, a leading financial services group in Asia, has been recognized for its unwavering commitment to sustainability and financial innovation. With a network of approximately 530 branches spread across 19 Indian states, DBS Bank India, a wholly-owned subsidiary of the global bank, has been operational in India for 29 years.

The bank’s dedication to responsible banking and sustainability is evident in its focus on promoting sustainability within the palm oil industry and its supply chain. This recent transaction aligns with the bank’s broader efforts to enhance sustainable financing and offer solutions that empower its clients to further their sustainability goals.

DBS Bank has received multiple accolades for its banking services and digital innovation, reinforcing its position as a safe and innovative bank. The bank also engages in social impact activities through the DBS Foundation, focusing on supporting businesses with social and environmental goals and initiatives such as the ‘Towards Zero Food Waste’ program.

As the world grapples with the urgent need for sustainable practices, DBS Bank India’s recent accomplishment in facilitating sustainable financing for palm oil procurement sets a precedent. This move not only underscores the bank’s commitment to responsible banking but also highlights the potential of digital solutions in fostering sustainable practices.

By promoting responsible sourcing practices and offering scalable and sustainable financing solutions, DBS Bank India is championing a future where banking and sustainability go hand in hand. This achievement serves as a beacon of hope, signaling that financial institutions can indeed play a pivotal role in driving positive environmental and societal change.

As DBS Bank continues to innovate and lead in the realm of responsible banking, it invites other financial institutions to follow suit, paving the way for a more sustainable and resilient future.

Tags: palm oil, Sustainability, DBS Bank India, Louis Dreyfus Company India Pvt Ltd, RSPO-certified palm oil