Singapore based Southeast Asia’s largest bank DBS, despite heavy exposure to steel mills in China & India, is pursuing a plan to reduce financed emissions from steel production as it races to achieve net-zero emissions by 2050. DBS, head of sustainability Yulana Cheung said “We are taking a leap of faith. Many of our steel mill customers are in China and India higher emitting regions. As a result, we are really trying our best to have an ambitious target.”DBS hopes to reduce its financed emissions from steel by around 27% of 2020 levels by 2030, from 1.95kgCO2 to 1.42kgCO2 per kilogram of manufactured steel. It then hopes to drastically scale down to just 0.14kgCO2 by 2050. KgCO2 is a unit that quantifies the amount of carbon dioxide that would have the same global warming potential as a given amount of greenhouse gas.DBS’ announcement was part of a larger report detailing industry-specific pathways the bank will pursue to achieve its 2050 net-zero financed emissions goal. The report covered nine sectors in total, including property, automation, and oil and gas.