DBS and global partners sound clarion call to climate innovators developing solutions to address carbon dioxide and greenhouse gas removal

SINGAPORE and SHARM EL SHEIKH, Egypt, Nov. 8, 2022 /PRNewswire/ -- With the risk of carbon dioxide and other greenhouse gas emissions pushing past dangerous warming thresholds, DBS together with seven partners and supporters, have committed to further build on efforts to nurture and scale the climate tech ecosystem.

DBS and global partners today launched the second cycle of Sustaintech Xcelerator, a six-month climate-focused hybrid accelerator programme organised in partnership with Temasek, GenZero, Google Cloud, the World Bank, Capgemini, and the Centre for Nature-based Climate Solutions at the National University of Singapore (NUS). Verra will support Sustaintech Xcelerator as an independent standard setter. The group aims to accelerate the development of practicable climate tech solutions that will help businesses reduce their carbon dioxide and greenhouse gas emissions at a faster rate.

The second run of Sustaintech Xcelerator will focus on solutions in three main areas:

• Nature-based approaches such as afforestation and reforestation
• Technology-based approaches such as carbon capture and storage
• Enablers such as digital tools and capabilities on carbon accounting and sourcing of ESG data, with a preference for solutions that can help SMEs implement viable technology solutions to green their operations

A total of SGD 250,000 in grants will be awarded to up to five successful applicants to scale their solutions. These successful applications will also get access to Sustaintech Xcelerator's network of world-leading research and commercial partners and will also be paired with senior mentors in the climate tech ecosystem. In addition, they also have the option of receiving in-kind support such as mentoring and office space at DBS' innovation hub, DBS Asia X (DAX).