Singaporean bank, DBS, has signed a Memorandum of Understanding (MoU) with Univers, a tech-powered carbon management solutions provider, to encourage the adoption of digital solutions and accelerate Asia’s net zero transition.

The MoU will see DBS’ sustainable finance capabilities integrated with those offered by Univers’ to support companies, particularly small and medium enterprises (SMEs), with their decarbonisation journey.

“As a signatory of the Net-Zero Banking Alliance, DBS is committed to aligning its lending and investment portfolios with net-zero emissions by 2050. Our success is intertwined with our clients’ ability to accelerate their decarbonisation agendas,” Tan Su Shan, Group Head of Institutional Banking at DBS, said.

“Bridging the data gap is a key hurdle that companies face when it comes to reducing their carbon footprints, because you can only manage what you can measure. By partnering with Univers, we can help our clients – from large corporates to SMEs – easily access cutting edge digital solutions and sustainable financing, to make the transition to net zero.”

Univers’ software, EnOS Ark is backed by artificial intelligence (AI) and Internet of Things (IoT) to provide a single source of data to track, measure and improve emissions.

EnOS Ark will enable DBS’ SME customers to gain a better visualisation and understanding of their carbon footprint, highlighting key emission hotspots and assisting with the transition to more sustainable operational models.

“We look forward to making available our decarbonisation solution that DBS and their clients need to accelerate their sustainable efforts,” Michael Ding, Global Executive Director at Univers, said.

“With EnOS™ Ark, we aim to onboard all companies, big and small, across multiple industries, to reach their net zero goal.”

DBS and Univers will also look to bring cloud partners on board across Asia, with initial testing already commencing with SME clients in in Hong Kong, India, Mainland China and Singapore in sectors such as logistics, retail, renewable energy and manufacturing.