DBS welcomes chance to join city advisory council

DBS Chief Executive Officer Piyush Gupta said that with the company becoming a new member of the International Business Leaders' Advisory Council, it hopes to contribute further to the enhancement of connectivity between Singapore and Shanghai.

DBS has been increasing its footprint thanks to the policy of Shanghai's opening-up initiative, Gupta said.

The firm is one of the four newcomers at IBLAC, which will host its annual meeting on Friday.

"Locating our headquarters in Shanghai is obviously pivotal for our mission to grow in the country," Gupta said.

In a teleconference interview from Singapore, he said that it's great to see Shanghai government's attention to green investment and green finance aspects in the early-stage development of five "new cities" in Shanghai.

"Shanghai should also consider creating a dynamic capability for carbon offset mechanisms, to cater for both individuals as well as companies, and also set up an ecosystem for verification and ratings, especially with respect to larger entities and projects," he added.

The government should focus on building enabling infrastructure for a green and sustainable business model across the five "new cities" which would enable both quality and green consumption, as well as green investments, he noted.