DBS Bank has appointed Shilpa Gulrajani as Head of Sustainability for its Institutional Banking Group. Gulrajani, who joins Southeast Asia’s largest bank after a 20-year tenure at BNP Paribas, where she recently held the role of Head of Corporate Development and Sustainability for Asia Pacific, will now lead DBS’s sustainable finance initiatives in the region. Her responsibilities include driving Environmental, Social, and Governance (ESG) business development, alongside advisory and financing solutions to support companies in their transition to net zero.
In March, DBS became the first bank in Southeast Asia to revise its coal policy, initiating a managed phase-out of coal-fired power plants in response to mounting pressure on regional lenders to halt fossil fuel financing. Gulrajani will also co-lead DBS’s efforts on the Singapore-Asia Taxonomy for Sustainable Finance, a framework launched by Singapore’s central bank to guide businesses and financial institutions in managing climate risks and defining transition activities, with the aim of phasing out coal plants across the region.
Gulrajani began her banking career with Citigroup in India in 2002 and joined BNP Paribas in 2004 as Head of Business Development. She transitioned to sustainability in 2021, having previously held various roles in investment banking and strategy. Her appointment comes seven months after the departure of Yulanda Chung, former Head of Sustainability for Institutional Banking at DBS, who now serves as an advisor to the Climate Vulnerable Forum, a global alliance of countries highly impacted by climate change.
