News

Deutsche Bank sets up Singapore ‘Centre of Excellence’

ESG investingDeutsche Bank has announced the establishment of a “Centre of Excellence” (COE) in Singapore. The office will work across all of the bank’s divisions, including its asset management arm DWS, and will focus on addressing gaps in the ESG market, including “impact monitoring, data management and payments to un-banked communities,” Deutsche Bank said in a statement. The German bank is also planning to partner with a number of academic institutions to create an ESG lecture series as well as fellowship and internship programs for students, and to collaborate with research institutions and think-tanks on ESG issues. “The transition of Asia towards sustainable practices requires ESG transaction models, products, solutions and regulatory measures which meet international standards while supporting on-the-ground realities in Asia,” said Kamran Khan, head of ESG for Asia Pacific at Deutsche Bank. “By establishing this ESG Centre of Excellence in Singapore, we aim to set standards for evidence-based, data-driven transactions which can substantiate ESG impact and support sustainable growth,” added Khan. The initiative was welcomed by the Monetary Authority of Singapore (MAS) which has also announced some ESG initiatives of its own, including the launch of a green finance industry taskforce designed to provide guidance for financial institutions when it comes to climate-related disclosures. “It is a welcome addition to Singapore's growing sustainability and green finance ecosystem,” said Gillian Tan, assistant managing director (development and international) at the MAS. “The Centre of Excellence will leverage innovation to accelerate Asia’s transition to a sustainable future. The COE’s goal to facilitate industry knowledge transfer will help to deepen the pool of specialised talent and capabilities in Singapore,” added Tan. © 2021 funds global asia

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