Singapore Dbs Intensifies Tender

DBS is introducing more eco-friendly initiatives designed to reward consumers who adopt green and sustainable practices in their daily lives and reduce its carbon footprint. The bank is the first in Singapore to launch an eco-friendly credit card made of recycled PVC polyvinyl chloride. The card the DBS Live Fresh credit card will also reward customers for supporting green and sustainable businesses. This follows DBS recent introduction of Singapores first green car loan in February this year. The banks efforts to reduce its environmental footprint through initiatives such as re-designing its 247 self-service branches to be more energy efficient lowering paper and plastics usage also continues to yield positive results.Said Jeremy Soo Head of Consumer Banking Group Singapore at DBS Bank The road to sustainability is best travelled together. Our aim is to provide a comprehensive suite of green offerings that make adopting eco-friendly practices the easier more attractive choice for customers. While weve come a long way in advancing our sustainability agenda we recognise theres much more that can be done. This includes further reducing our own environmental footprint and providing solutions that enable customers to make purpose-driven and positive impact. Together we can make sustainable development a reality.DBS Live Fresh Nations first eco-friendly credit card with green rewardsSince launching its pilot earlier on 23 March DBS has issued andor replaced almost 1500 of its Live Fresh credit cards which are now made from 85.5 recycled PVC material. In keeping with its millennial-centric proposition the bank will be rewarding Live Fresh cardmembers when they patronise eco-friendly and sustainable businesses across everyday categories such as dining grocery shopping and transport. Come 1 May cardholders will enjoy additional cashback at selected retailers and social enterprises including BlueSG and WhatIF Foods. They will also be eligible for a discounted rate when booking staycations at green hotels in Singapore via Agoda for example at Parkroyal Collection. The Live Fresh eco-friendly cards do not come with any additional fees.Added Anthony Seow Head of Payments and Platforms DBS Bank A whole-of-society effort is required for us to make the Singapore Green Plan a reality and DBS has an integral part to play in this transition. By launching Singapores first eco-friendly credit card coupled with a new sustainability-focused card rewards scheme we have created a virtuous cycle to support sustainable enterprises some of which are championed by our DBS Foundation while rewarding customers who aspire to lead more sustainable lifestyles. This is just a start as we are committed to review further extending the issuance of sustainable materials across the rest of our credit and debit card base which has almost six million DBSPOSB cards in circulation.Prior to its pilot the bank conducted extensive reviews and testing of every potential sustainable material available in Singapore. The rPVC material was selected for its advantages of having a lower production carbon footprint and is recycled from existing old PVC material. This eliminates the need for new materials to be extracted. Each eco-friendly rPVC Live Fresh credit card represents approximately 7g of carbon reduction and 3.18g in waste reduction. Based on this estimate DBS can potentially save up to 42 tonnes1 in carbon reduction and reduce industrial waste by about 19 tonnes1when the conversion exercise for its entire card base is complete. This follows DBS launch of its first co-branded credit card in Taiwan last year that is embedded with an iPass electronic payment function and made out of polylactic acid a biodegradable polymer produced from renewable resources.A 27-country study on Healthy Sustainable Living conducted by GlobeScan revealed that environment and climate change remain priority topics for consumers even during the pandemic with Gen Z and Millennials being particularly engaged on sustainable living. In fact about seven in 10 Gen Z and Millennial consumers say they would like to change their lifestyle a great deal to become healthier and more than half would like to do the same to become more sustainable and more altruistic.Daniel Ng a DBS Live Fresh cardmember who received his replacement card during the pilot aged 29 commented Knowing that the card is now made from recycled plastic makes me feel good that I am part of a broader movement to lessen the impact our daily lives have on the environment. This should be the way to go. I can still receive cashback while performing transactions online or when paying contactless at brick-and-mortar shops but now I am even more motivated to support local businesses focused on providing eco-friendly products and services.The eco-card complements the banks wide suite of digital payment solutions including DBS PayLah Singapores leading payments-lifestyle app with 1.9 million users. Integrated into multiple major payment rails it is also the most widely accepted mobile wallet in Singapore with more than 180000 acceptance points island wide. Measures to reduce environmental footprint continue apaceAs part of DBS commitment to reducing its environmental footprint the bank is also re-designing 13 of its 247 self-service branches to be more energy efficient. The branches will have ventilation features that encourage self-cooling and have energy optimisation systems such as low-energy lighting in place. This will lower the branches carbon footprint by some 280 tonnes a year -equivalent to 40 trees. In 2018 the bank also began tracking and reducing its paper consumption. Since then DBS has been able to reduce its office paper consumption by 35 - with 208 tonnes less paper used since 2018 equivalent to 5340 trees saved.