DBS's ESG - RHB Invest 2024-03-22: Moving In The Right Direction Towards Sustainability

• After updating our sector ESG scoresheet (please refer to our thematic report titled Banks: In Pursuit Of Net Zero), we upgraded DBS’s ESG score to 3.2 from 3.1. Our DBS's target price also rises accordingly, as we now ascribe an ESG premium of 2% (vs 0% previously) to its intrinsic value of S$36.10.

DBS's ESG – The positives.

• - Read this at SGinvestors.io -
• DBS accelerated its climate agenda when it published its “Our Path to Net Zero” and announced interim 2030 and 2050 net-zero targets. It had earlier set a target to commit S$50bn of sustainable financing loans by 2024 but, as at end-2023, S$70bn had already been committed.
• - Read this at SGinvestors.io -

Areas for improvement?

• Read more at SGinvestors.io.

Above is an excerpt from a report by RHB Securities Research.
Clients of RHB may be the first to access the full PDF report @ https://www.rhbtradesmart.com/.

Read also RHB's most recent report:
2026-02-10 DBS - Can Non-Interest Income Continue To Shine?.

Previous report by RHB:
2025-11-07 DBS - Dividend & Capital Return Thesis Intact; Stay BUY.

Price targets by 4 other brokers at DBS Target Prices.

Listing of research reports at DBS Analyst Reports.

Relevant links:
DBS Share Price History,
DBS Announcements,
DBS Dividend Payout Dates & Corporate Actions,
DBS News