DNB, world-leading Norwegian bank and SNIC 2021 Gold Sponsor, has been in Singapore since 1970. Also, the bank has representative offices in Shanghai and Mumbai. Over the years, the Asian business environment has seen big changes. However, Singapore stays strong as the maritime hub in the region. Consequently, Singapore is strategically important for DNB’s Investment Banking department who is bridging capital between Asia, Europe and America. In addition, Singapore is a natural hub for DNB’s continuous strive to support global clients within certain industries. We spoke to Jan Fredrik Skjeltorp, General Manager DNB Bank ASA, Singapore Branch, about DNB’s strategic and ambitious goal regarding financing and facilitating USD 175 bn for sustainable activities.
DNB will be a driving force for sustainable transition
One of DNB’s goals is to create the best customer experience through increased innovative power, increase the use of customer insight, drive skills enhancement and to incorporate corporate responsibility in all processes. The world-leading bank considers climate change the greatest challenge of our time. Therefore, DNB has made it their mission to cut down on their own emissions and help customers make more sustainable choices. In turn, DNB estimates it will make both their own operations and society more sustainable. Below shows a summary of DNB’s targets.
USD 175 bn for sustainable activities
DNB recognises that the green transition requires considerable investment. The bank will help its customers move in a more sustainable direction and reduce emissions. Therefore, the bank has developed a range of financial products and services that promote sustainable activities, solutions, investments and innovation. They have set an overall sustainable financing target at portfolio level. By 2030, DNB will finance and facilitate USD 175 bn for sustainable activities.
A bridge between Norway and Asia
DNB’s principal market is Norway, where it has a leading position and wide distribution power. In addition, DNB is one of the world’s leading banks within shipping, offshore and seafood and have a strong international position in the energy sector. “Asia’s growth potential gives our clients great opportunities, and the increasing wealth in this region gives opportunities to channel capital for investments in Europe and Norway”, says Jan Fredrik.
Joint book runner for Barramundi Group’s listing on Oslo Stock Exchange
Barramundi Group is an Australian aquaculture business. The company is one of the largest barramundi producers in the world, operating through a unique end-to-end aquaculture model, with comprehensive in-house capabilities ranging from vaccine development, product innovation and processing, to hatchery facilities. When the company planned their listing on the Oslo Stock Exchange, DNB Markets, with its Norwegian roots and convenient placement in Singapore, was a natural partner choice together with Pareto Securities. Read the full announcement.
Financing of Scatec Solar’s acquisition of SN Power
Scatec Solar is an integrated independent, renewable power producer with headquarters in Oslo. The company delivers affordable, rapidly deployable and sustainable clean energy worldwide. In 2020, the company acquired 100% of the shares in SN Power, a leading hydropower developer and IPP. SN Power has a portfolio of hydropower assets in the Philippines, Laos and Uganda. DNB helped support the deal together with Nordea, BNP Paribas and Swedbank, through acquisition financing of USD 700 million. Read the full announcement.
Jan Fredrik speaks at SNIC2021
Hear more about how DNB is becoming a key player within the green transition. You will also learn more about tangible business opportunities rising from the green shift. Sign up for SNIC2021 here.