Net Zero Carbon Emissions New Initiative - DBS (Taiwan) Supports Power To Change in Energy Prosperity Project

DBS (Taiwan) Supports Net Zero Emissions Program to Reduce Scope 3 Carbon Emissions

What is Power To Change?

One of the projects of Power To Change is the "Energy Prosperity Project", which is DOMI's original net-zero carbon emission and corporate social responsibility project, partnering with enterprises to help them understand the definition and range of scope 1, scope 2, and scope 3 carbon emissions, find out the scope that enterprises need to solve, and jointly discuss a new project to reduce unnecessary resources and carbon emissions of enterprises, and help save money in low-income households affected by energy shortage under climate change. Hoping to use the power of business to reverse the social groups who are affected and unable to adapt to climate change, and at the same time achieve the company's net zero and cost-saving goals.

Taking DBS (Taiwan) as an example, many large and small banking businesses will produce many paper bills every month. Due to the impact of paper bills on the environment, DBS (Taiwan) is committed to promoting the digitization of paper bills. DOMI partners with DBS (Taiwan) to use the money saved by electronic billing to help disadvantaged families who have no money to use energy-saving and safe electrical appliances. In addition to saving huge electricity bills, it also brightens the original dark living environment.

Why We Got in Touch with DBS (Taiwan)?

For the implementation of Power To Change project, DOMI first cooperated with local commercial banks. Through the reduction of paper credit cards and bank bills, we helped many energy-poverty families, improved their living environment, and achieved good results. And we realized that not only local companies in Taiwan, but companies that can help families suffering from poverty far exceeded our expectations.

In the past few decades, DBS (Taiwan) has vigorously supported social innovation and enterprises, prioritized the purchase of social enterprise services and products, and ingeniously integrated social enterprise concepts and services into the banking business. As a multinational bank in Taiwan, DBS (Taiwan) was thinking about how to make a profit and generate social feedback at the same time. By chance, DOMI learned that DBS (Taiwan) spared no effort to give back to society. After exchanging our ideas, we found that our sustainable concepts are very compatible, so we were very honored to invite DBS (Taiwan) to support Power To Change project.

Enterprises Are Joining Power To Change to Create Sustainable Change Impacts

Net-zero carbon emissions and cost reduction benefit disadvantaged groups at the same time

In recent years, many companies have announced that they will achieve net zero carbon emissions by 2050. Reducing carbon emissions in various fields is the key for many industries to achieve net zero carbon emissions by 2050. In particular, paper bills are listed as the third category of carbon emissions of enterprises, and their carbon emissions account for a large proportion of service industries such as banks, postal services, software technology industries, etc.

According to statistics, the carbon emissions of Taiwan's paper bills are 2.3 times that of plastic, and the number of paper bills printed every day can be higher than Taipei 101! Also because of paper bills, six Daan Forest Parks will disappear every year. By saving these paper bills and converting them into digital ones, not only can the trees survive, but also a considerable amount of money can be saved. The saved resources can be invested in social issues that the company cares about. This fund is circular and being reused to maximize the benefits of resources.

Sustainable development within the enterprise

The concept of sustainability does not only stop at the higher level

To promote the sustainable development of the enterprise, the support and understanding of internal employees are vital. However, the reality is that the promotion of sustainable development is only limited to senior executives, and internal colleagues cannot understand the meaning of sustainable development. Power To Change project allows internal colleagues to understand that under climate change, there are a large group of people who are in urgent need of help, and companies do not need to spend huge financial resources and energy, that is, they can initiate social movements that combine their industries and change internal operating processes, and drive the public to use goodwill to help vulnerable groups who cannot adapt to climate change.

Combining the sustainable actions of the industry

The participation of enterprises does not stop at supporting or joining Power To Change. DOMI will accompany the enterprise to build a team-building space and lead internal colleagues to think: in the industry in which the enterprise is, what unique resources that have not been paid attention to before can be saved. And convert the provision to disadvantaged families, or in what aspects the saved funds can help disadvantaged families, so social issues will not be limited to converting paper bills into energy-saving resources, but can be in line with the business of the enterprise, achieving Net Zero within the field of the enterprise and turn it into exclusive resources for vulnerable groups, net zero carbon emissions and social impact will then occur at the same time.

Power to Change Projects Takes First Steps towards Net Zero Carbon

With the promotion of this plan, enterprises can focus more on sustainable development when doing project planning in the future, no longer only the pursuit of profit for the enterprise, but continuing to solve the issue of energy poverty, speaking out for climate change, and changing the constitution of the enterprise. Power To Change project is in line with the Executive Yuan's social innovation action plan (matching the development of large-scale enterprises and social enterprise innovation plans) and concretely implements the corporate social responsibility of listed counter companies. While saving energy and reducing carbon, this project also cares about the situation of disadvantaged groups and rights and interests, enhances the social welfare image of the enterprise, and builds consumers' trust image of reliability and caring.

Improving ESG Orientation and Meeting the Sustainable Development Goals of the United Nations

ESG can be regarded as a company's health check report, which is evaluated internally and externally. Assessing the overall performance of a company is not only about outstanding financial performance, taking good care of employees and shareholders, but also taking on more social responsibilities, not only seeking to expand the scale of the company but also achieving the goal of sustainable development in the long run. Participating in this project is the beginning of what’s mentioned above, a thousand miles begins with a single step. DOMI Earth is willing to work together with the enterprise and assume the social responsibility that the enterprise should have, starting from the energy-disadvantaged families.

GRI Improves Scores in All Aspects

Power to Change project complies with various GRI Sustainability Reporting Standards indicators, the environmental aspect (E) meets 6 major purposes and 14 sub-items, the social aspect (S) meets 4 major purposes and 5 sub-items, governance (G) complies with the 3 major purposes and 7 sub-projects. This plan meets the GRI requirements and improves the scores of each project, which is in line with today's corporate ESG expectations.

Relation to United Nations 2030 Sustainable Development Goals

This project is in line with the 2030 Sustainable Development Goals announced by the United Nations in 2015, including five issues including poverty eradication and climate change mitigation.

SDG 1 End poverty in all its forms everywhere

Replacing old energy-consuming light bulbs helps disadvantaged families save expensive electricity bills, reduce their burden of living, and increase their disposable income.

SDG 7 Ensure access to affordable, reliable, sustainable, and modern energy

Power to Change installs LED light bulbs for disadvantaged families, bringing a bright environment and reducing electricity bills, reducing the living burden caused by high electricity bills for disadvantaged families, enjoying a better quality of life, and igniting the hope of change. Affordable energy for everyone is no longer far away out of reach.

SDG 12 Ensuring Sustainable Consumption and Production Patterns

Encouraging bank consumers to convert paper bills into electronic bills, reduce disposable items, and initiate a wave of consumption awareness of a sustainable economy from the consumer side.

SDG 13 Take urgent action to combat climate change and its impacts

Disadvantaged households reduce carbon emissions by replacing old lighting appliances, reducing electricity consumption, and reducing their impact on the climate. Financial institutions reduce the damage to the environment by reducing paper bills and transforming them into comprehensive financial digitization.

SDG 17 Revitalize the global partnership for sustainable development

This partnership project by DOMI Earth, together with enterprises, supports the digitization of bills, transfers resources to assist energy-disadvantaged families, and exerts greater environmental and social influence.

DBS (Taiwan)-Power To Change Achievements and Impact

Outcome of Families Helped

DBS (Taiwan) partnered with DOMI to deliver the concept of Power To Change to consumers. So far, it has successfully aroused consumer participation, and willingness to change behaviors, switch to electronic bills, or open digital accounts directly. Consumers are very supportive of their banks donating the saved cost from paper bills to the neglected energy-poverty households in society, and helping the poor households install energy-saving LED light bulbs and circuit safety inspections, etc., to save costs and safety.

Starting from all online and offline communication channels for consumers, including EDM, APP, bill inner page printing, website to promotional videos of physical branches, and production of promotional materials... etc., through various forms of communication and sending warmth, consumers could see that: it’s an action with little effort, as long as everyone changes their minds and is willing to switch to electronic bills or directly open a digital account, they can pass the love on, and warmth and care will follow DOMI Earth service actions to reach all vulnerable families who need assistance and improve energy plight.

From DOMI's search for a list of households with actual needs to the successful replacement of energy-saving appliances for each household with a team of professional electricians, DBS (Taiwan) has

• Lighted up nearly 511 household
• Saving up to 306,600 kilowatt-hours of electricity
• Reducing a total of more than 408,800 kilograms of carbon emissions.

(until 2022)

Every family life gets transformed, not only does the home environment light up, but also the hope and touch in the heart light up.

Power To Change project has been deeply supported and has felt touched by DBS (Taiwan) and its customers. From the very beginning of the project discussion to the realization of the project, every customer and colleague can see DBS Bank’s progress towards sustainability. In the future, DBS (Taiwan) will continue to support and give back to the society. The number of households that can be assisted is also increasing due to the response and feedback from the public, and its influence continues to spread.

Feedback and Gratitude from Households

Mama Jiang's Story

Mama Jiang is a mother of three children. In order to save money, she must control the use of electric lights at home. She makes use of the sunlight during the day and lives in a dim environment at night. She confessed that she’s afraid of falling in the dark, it’s also inconvenient to cook or eat. Her children have to do homework in a dark environment, which makes her worried and troubled.

DOMI Earth got in touch with Mama Jiang to go to her residence to install the energy-saving appliance. Mama Jiang was very moved and hoped to express her gratitude through her own story, and hoped that this charity could continue to be promoted.

Appreciation Dinner of Starred Cuisine

DOMI Earth assisted DBS (Taiwan) in planning a thank-you dinner party called "Starred Cuisine", inviting users who transferred electronic bills to enjoy delicious cuisine together, and planned a surprise to thank users for their support with an act of kindness.

In fact, all the meals at the dinner party were prepared by Mama Jiang at the venue early in the morning to thank each customer. Through a small action of switching bills, the participants directly contributed to improving her life. All participants were very surprised and moved upon learning about it, they couldn't believe that this perfect meal came from Jiang's mother who lived a hard life. I also realized that every small action can help the disadvantaged groups in society and lighten the world. The space in their home and the warm hope in their hearts.

What are the partnership advantages of Power To Change project?

DOMI Earth cooperates with the two goals of "speeding up the popularization of digital bills" and "resource conversion and utilization to help disadvantaged households solve energy disadvantaged problems". In addition to promoting a social environment of inclusiveness and common good, it is also a model in which enterprises can put the competition aside to jointly solve the social and environmental problems that Taiwan is facing and exert amazing influence. While fulfilling their respective corporate social responsibilities, they also pull the companies to a higher level to jointly face the environmental damage and weak energy problems faced by our living land to jointly transform resources and solve them by hand. Political Commissar Audrey Tang highly affirmed this project: "Power To Change Project" is a good case of social innovation. From zero-sum to the common good, through breakthroughs in technology and business models, creating common benefits for enterprises, society, and environment.”

The innovative and influential business model conceived and discussed with the bank uses the promotion mechanism of digital bills to gather the resources saved by cardholders converting digital bills to help disadvantaged families switch to energy-saving lamps, forming an interactive platform that transmits positive energy. The implementation of corporate society is related to the promotion of social integration. Among them, this model is unique in that it can solve environmental and social problems at the same time. The redistribution of unnecessary waste of resources, not only reduces the abuse of trees felled by paper bills but also stimulates the carbon emissions generated during the billing process. More direct services to families facing energy disadvantages, to create greater social and environmental influence.