DBS: Toyota Financial Services Singapore signs first bridging finance facility with DBS Bank to support carbon neutrality efforts

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Singapore, Sep 30, 2021 – Toyota Financial Services Singapore (TFSSG), a subsidiary of the financial services arm of Toyota Motor Corporation (Toyota), has signed a SGD 150 million bridging loan in the form of a credit facility renewable energy linked to sustainable development with DBS Banque. Net proceeds will be used to develop Toyota’s electrified vehicle[1] sales in Singapore.

Mr. Adrian Chai, Group Head of Corporate Banking, DBS Bank, said: “Supporting the automotive industry’s transition to a lower carbon future is an urgent imperative, and we are pleased to partner with one of the The world’s leading automakers Toyota for driving positively The transportation sector is one of the world’s largest emitters of greenhouse gases, accounting for around a quarter of global carbon dioxide emissions. Road vehicles, like passenger cars, in turn contribute almost three quarters of transport emissions.[2]. Providing financial support to accelerate the adoption of electrified vehicles is therefore key to a climate-aligned future not only for Singapore, but also for the rest of the world. “

Mr. Vinod Cherumadathil, CEO of Toyota Financial Services Singapore, said: “The sustainability-linked lending facility with DBS demonstrates our collective commitment to global decarbonization efforts with a focus on improving access and adoption of more electrified vehicles in Singapore. financial support for Toyota vehicles, we continuously strive to have a significant environmental impact to meet the demands of a diverse and more environmentally conscious clientele. “

The Transition Loan Facility aligns with DBS’s efforts to provide sustainable financing to more businesses to support industrial transformations towards a low-carbon future. DBS raised its sustainable financing target to SGD 50 billion by 2024 earlier this year, accelerating its sustainability agenda by helping clients integrate sustainable business practices into their overall business strategy. DBS is also committed to ensuring net zero operational carbon emissions across the bank by 2022 and continues to reduce the bank’s carbon footprint while advancing its sustainable sourcing agenda.

Wide adoption of electrified vehicles – A critical step towards carbon neutrality

To work on global decarbonization efforts, the widespread adoption of electrified vehicles is essential as they provide an affordable and viable option to reduce emissions.

Since its inception, Toyota has continuously strived to contribute to the sustainable development of society and the Earth by providing innovative and high quality products and services. The “Five Great Principles of Toyoda” have been passed on to every Toyota group company since and the group has been working on environmental initiatives since the 1960s. In 2015, when the Paris Agreement was adopted at COP21[3], Toyota has further strengthened its commitment to sustainable development and announced the “Toyota Environmental Challenge 2050” to reduce the environmental burden attributed to automobiles to zero as much as possible, while developing measures to contribute to a positive impact on the Earth and its societies with the aim of achieving a sustainable society.

[1] Toyota is committed to establishing a full line of electrified vehicles, namely Hybrid Electric Vehicles (HEV), Plug-in Hybrid Electric Vehicles (PHEV), Battery Electric Vehicles (BEV) and Fuel Cell Electric Vehicles ( FCEV).
[2] International Energy Agency (IEA)
[3] The 21st session of the Conference of the Parties to the United Nations (UN) Framework Convention on Climate Change

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About DBS
DBS is a leading financial services group in Asia with a presence in 18 markets. Based and listed in Singapore, DBS is present in the three main areas of growth in Asia: Greater China, Southeast Asia and South Asia. The bank’s “AA-” and “Aa1” credit ratings are among the highest in the world.

Recognized for its global leadership, DBS has been named “The best bank in the world“by Euromoney,”World Bank of the Year“by the banker and”Best Bank in the World“by Global Finance. The bank is at the forefront of using digital technology to shape the future of banking, having been named” World’s Best Digital Bank “by Euromoney and the”The most innovative in digital banking“by The Banker. In addition, DBS received the”Safest Bank in Asia“awarded by Global Finance for 13 consecutive years from 2009 to 2021.

DBS offers a full range of banking services for individuals, SMEs and businesses. As a bank born and raised in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. DBS is committed to building lasting relationships with its customers and making a positive impact on communities by supporting social enterprises, as it operates the Asian way. It also established a SGD 50 million foundation to strengthen its corporate social responsibility efforts in Singapore and across Asia.

With its extensive network of operations in Asia and its focus on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit www.dbs.com.

About Toyota Financial Services Singapore (TFSSG)
TFSSG is the Singapore subsidiary of Toyota Financial Services Corporation (TFSC) which is a wholly owned subsidiary of Toyota Motor Corporation (TMC) in Japan.
TFSC has a global presence in over 40 countries / locations and TFSSG was incorporated on January 2, 2020 in Singapore. TFSSG’s effort is to enable people to experience products and services that ultimately enable them to enjoy freedom of movement. By offering financial and mobility solutions, a unique bond and value is created with people.
For more information, please visit:

Toyota Financial Services Singapore website https://www.toyotafinancial.sg
Toyota Sustainability Website https://global.toyota/en/sustainability


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