DBS Hong Kong launches sustainable finance programme for SMEs

DBS Bank (Hong Kong) has launched the DBS Hong Kong SME Sustainable Finance Programme to help small and medium-sized enterprises (SMEs) accelerate their transition towards more sustainable and resilient business models.

A recent DBS Hong Kong SME survey revealed that 73% of SMEs are keen to implement ESG strategies and sustainability measures into their business planning, recognising that this approach would enhance their operational efficiency and market competitiveness, thereby achieving long-term sustainable development. Key motivations driving this shift among SMEs included enhancing brand image (47%), fulfilling customer feedback/requirements from buyers and suppliers (46%), upholding social and ethical responsibility (41%), and complying with government regulations and policies (41%).

Despite this strong aspiration, 58% of SMEs face funding shortages and cost pressures, with 65% expressing a desire for financial assistance to integrate sustainability into their operations. Recognising these challenges, the DBS Hong Kong SME Sustainable Finance Programme is specifically designed to mitigate these financial barriers.

Lareina Wang, managing director and head of SME banking, DBS Hong Kong, stated, “In today's dynamic business landscape, embracing sustainability is not only an environmental imperative but also a strategic opportunity for business transformation. The DBS Hong Kong SME Sustainable Finance Programme directly addresses the financial hurdles SMEs face, providing tailored financing solutions that empower them to not only embrace ESG but also unlock new opportunities, enhance their resilience and effectively future-proof their enterprises.”

Serena Mak, executive director, sustainable finance, institutional banking group, DBS Hong Kong, added, “At DBS, sustainability is fundamental to our purpose, and we are committed to partnering with our clients to advance their journey. In Hong Kong, where SMEs are integral to the vibrancy of our economy, it is more crucial than ever that this kind of programme is offered to empower SMEs to enhance their sustainability efforts. It reflects our deep commitment to fostering a greener economy, helping businesses thrive while collectively contributing to a sustainable future for all.”

The DBS Hong Kong SME Sustainable Finance Programme offers tailored financial solutions for projects and activities that deliver clear environmental benefits. It facilitates SMEs' transition towards lower-carbon operations and contributes to sustainable development. Examples of eligible uses include energy efficiency upgrades, resource conservation, eco-friendly building, clean transportation and renewable energy installation. The programme also provides competitive rates, flexible repayment plan, and dedicated support from a relationship manager to guide applicants.

The credit facilities granted under the DBS Hong Kong SME Sustainable Finance Programme are to be used for eligible initiatives only, matching the exact cost of the activities and projects. Documents such as letters of award, contracts, labels, or certifications are required to verify the involvement in the eligible project or activity.

Re-disseminated by Wealth and Society