DBS has launched the second cycle of Sustaintech Xcelerator, a six-month climate-focused hybrid accelerator programme organized 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. Verra will support the programme as an independent standard setter.

The group aims to accelerate the development of practicable climate technology solutions that will help businesses reduce their carbon dioxide and greenhouse gas emissions at a faster rate.

While the first cycle continues to scale-up its offerings, this second 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 small and medium-sized enterprises implement viable technology solutions to green their operations.

A total of S$250,000 (US$178,000) in grants will be awarded to up to five successful applicants to scale their solutions. They will also get access to the programme’s network of research and commercial partners and will also be paired with senior mentors in the climate technology 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.

“We need to accelerate climate action at scale,” says Helge Muenkel, chief sustainability officer at DBS. “Sustaintech Xcelerator is well-placed to drive real action by providing sustaintech start-ups with mentorship from some of the best businesses and academics globally as well as technical and financial assistance so that these innovators can bring next-generation solutions to life.”