We welcome DNB as a Gold sponsor of SNIC 2023 – Innovate to Zero!
In the journey towards a sustainable future and net zero, banks and investment management companies play a big part in funding the green transition. This is one of the pressing questions under this year’s Singapore Norway Innovation Conference – Innovate to Zero. As the financing landscape changes, DNB has seized the opportunity to find new ways of funding the green transition. Today, they stand as a leader in green financing initiatives, at the forefront of environmental stewardship. We are thrilled to announce Jan Ole Huseby, Global Head Ocean Industries at DNB, as a speaker at the conference!
Being a key player in sustainable financing, it is essential for DNB to strengthen this focus through their work with clients and investors. Therefore, they use their expertise in trading EU Allowances (EUAs) to support their clients during this transition. Expediting efforts towards net zero goals, they provide them with the necessary products and services to support them in the shift.
Putting in effort for the green transition
The company has established an ambitious sustainability goal to finance and facilitate NOK 1.5 trillion by 2030. As countries try to stick to the promises they made in the Paris Agreement and set different goals for reducing pollution, understanding the many new rules and what they mean can be hard. Therefore, DNB is putting in effort to share useful information, using their knowledge and experience in the market. An example is the recent changes to the EU Emission Trading Scheme (ETS). Ship’s carbon emission will be counted, and the shipowners will have to pay for them under the new European Climate Law. Moreover, the company is, among other significant contributions, a founding member of the Poseidon Principles for maritime financing.
The company has been in APAC for more than 50 years, and is one of only two Nordic banks in Singapore. The firm has an extensive network of 27 offices, enabling the bank to support global clients locally, leveraging their sector knowledge and global expertise in international hubs. Axel Berning, General Manager of DNB Asia-Pacific, explains enthusiastically:
APAC is the part of the world where we will continue to see the highest growth in the coming years, so there are certainly a lot of opportunities!
According to Berning, the trick is to stay focused, utilizing the strengths that come with their position. He adds:
DNBs strategy outside the Nordics is to focus on clients in industries where we have deep sector knowledge. Typically we have been active and leading in these sectors for several decades. On the energy side, we have a strong focus on Energy Transition, and especially Renewable Energy.