Asian bank DBS launches ESG-themed metaverse


DBS, an Asian bank, has linked with decentralised gaming virtual world The Sandbox to launch a metaverse experience showcasing ESG initiatives and ideas.

According to Finextra, the bank is buying a 3×3 plot of Sandbox land to build DBS BetterWorld, which will be used to demonstrate the importance of building a more sustainable world.

DBS will use the platform to profile social entrepreneurs in Asia who have been driving positive impact through innovative business models. In addition, all the land and production on DBS BetterWorld will be certifiably carbon neutral.

DBS CEO Piyush Gupta said, “Our partnership with The Sandbox and Animoca Brands marks the start of an exciting collaboration as we push the boundaries of what is possible in the metaverse.

“We also look forward to harnessing it as an additional innovative platform to spread the word on important ESG issues and to shine a spotlight on communities and partners doing good work to address them.”

The Financial Conduct Authority (FCA) has revealed it is establishing a new advisory committee to its board to work on ESG challenges.

Earlier this year, the board of the FCA decided to establish a brand new ESG Advisory Committee to help execute its ESG related responsibilities.

These responsibilities include meeting the government’s expectation that the FCA has regard to the UK’s commitment to achieving a net zero economy by 2050.

Sustainability data and technology company ESG Book previously closed its Series B round on $25m, as it looks to respond to the growing demand of technology enabled ESG data solutions.

Energy Impact Partners, a global investment firm leading the transition to a sustainable future, served as the lead investor. Other commitments came from Meridiam and Allianz X.

This fresh capital has been earmarked to advance ESG Book’s next-generation technology capabilities to help clients meet increasingly complex sustainability requirements.

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