Nationwide, September 12, 2023 – DBS announced the Metaverse concept for DBS BetterWorld, a gamified adventure that shows how the Metaverse can be harnessed as a force for good.
This virtual experience focuses on the global food waste problem and how Businesses for Impact, supported by the DBS Foundation, is working to address it. According to the United Nations, one-third of the food produced globally, or an estimated 1.3 billion tons, is wasted every year.of Food and Agriculture Organization (FAO) estimates Approximately 40% of food produced in India is wasted every year due to fragmented and inefficient supply chains. This not only reduces nutritional security but also leads to loss of income for farmers.
To address this issue, in 2020 DBS launched the Towards Zero Food Waste initiative, bringing together employees, customers, communities and the public to collectively build a more food-resilient future. I will continue to create. As of the end of 2022, the initiative has generated a total food impact of more than 2,000 tons, including food waste reduction, food recycling, and food redistribution.
Shoma Narayanan, Managing Director and Group Head of Strategic Marketing and Communications, DBS Bank IndiaDBS is dedicated to creating a greater impact beyond banking to build resilient and food-secure communities while contributing to environmental sustainability. We will continue to harness the power of technology and innovation to unlock the full potential of the Metaverse. Through DBS BetterWorld, we aim to raise awareness about pressing issues like food waste and create unique engagement opportunities. This aligns closely with the focus of his DBS Foundation, which focuses on championing social enterprises that bridge gaps within the food and agriculture value chain. We look forward to seeing how this initiative scales and pave the way for a more sustainable future.
As a purpose-driven bank, DBS recognizes its responsibility to society, serving communities and empowering social entrepreneurs and impact organizations to create positive change. Since 2014, the DBS Foundation has been working to improve people’s lives and livelihoods by making a difference in businesses and communities.
To date, DBS Foundation has incubated more than 800 companies to make an impact in Asia, of which around 100 have been awarded grants totaling over S$13 million through the annual Grant Awards . The DBS Foundation Business for Impact chapter fosters the growth of innovative, purpose-driven businesses, including small and medium-sized enterprises, designed to address pressing issues currently facing our planet and society. The 2022 grant winners will collectively benefit the lives and livelihoods of more than 2 million people across Asia and are projected to reduce food waste by more than 100,000 tonnes by the end of 2024. Masu. Three Indian startups received the award: Neomotion Assistive Solutions, Saathi Eco Innovations and Urdhvam Environmental Technologies. Among last year’s grant recipients.
Additionally, DBS Bank India has awarded grants of Rs 44 million each to five Indian startups under its ‘Tectonic – Innovation Towards Zero Food Waste’ program, taking the total amount to Rs 2.2 billion. did. This will help startups scale up and deploy their products in the food sector. and the agricultural sector.
In 2022, the DBS Foundation has raised the bar. Establishment of new Community Impact Chapter To equip disadvantaged people with digital and financial literacy so they can face the future with confidence and make communities more food secure and resilient. It has committed S$5.6 million in funding to support 10 initial programs across all of the bank’s core markets of Singapore, China, Hong Kong, India, Indonesia and Taiwan.
As part of its Community Impact Chapter initiative, DBS Foundation has partnered with Hakdarshak Empowerment Solutions (HESPL) to develop financial literacy and social literacy initiatives aimed at supporting marginalized people in rural and urban India. Launched a rights program. The program aims to educate her 200,000 beneficiaries, 70% of whom are women, and build their digital and economic capabilities while facilitating access to public welfare rights.
In August 2023, DBS will Commitment to invest up to S$1 billion over the next 10 years Improving the lives and livelihoods of low-income and disadvantaged people and promoting a more inclusive society. DBS will inject S$100 million annually into Singapore and other key markets from 2024 to strengthen existing community initiatives by the bank and the DBS Foundation. In addition, his 36,000 employees at the bank plan to contribute more than 1.5 million volunteer hours to society over the next 10 years.
As part of the virtual experience offered by DBS BetterWorld, players will have to complete a series of activities inspired by five Businesses for Impact supported by the DBS Foundation and unique approaches to reducing food waste. there is.
- brewworks – Singapore-based craft beer maker Brewerkz focuses on upcycling spent brewer grain, a by-product of beer production and often discarded by the industry today, into food.
- Blair – Breer, a food upcycling startup based in Hong Kong, collects leftover bread from bakeries and restaurants and uses it to brew craft beer.
- green price – Hong Kong-based GreenPrice specializes in selling food near or past its “best before” date, helping to eliminate food waste while making food more accessible to low-income households. I am.
- edible garden city – Singapore-based Edible Garden City is driving the grow-your-own food movement by making soil-based urban agriculture and edible gardening more accessible to city dwellers.
- rooftop republic – Hong Kong-based Rooftop Republic transforms underutilized and unconventional spaces in communities, such as disused helipads, into urban farms.
DBS BetterWorld will be publicly accessible once Alpha Season 4 of The Sandbox launches.
A trailer for the game can be found here: https://youtu.be/SMhNZLYdEWE