Companies should resist political pressures and stick to ESG, DEI commitments: Incoming DBS CEO

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Companies that have pledged to support ESG and DEI initiatives should stick to their commitments and not be swayed by political developments, the incoming CEO of Singapore's DBS Group said.

"Leadership is about being responsible, not saying one thing and doing another ... If you've committed your organization to reducing your carbon footprint and you can and it's financially viable, then stick to your commitment," DBS Deputy CEO Tan Su Shan said during a session on corporate leadership at CONVERGE LIVE.

"Don't chop and change just because you're trying to ingratiate yourself with another administration," she added.

Tan will become the bank's CEO on March 28, replacing Piyush Gupta, who has led Southeast Asia's biggest bank since 2009. Tan, who joined DBS from Morgan Stanley in 2010, will be DBS' first female CEO.

DEI refers to diversity, equity and inclusion, while ESG refers to environmental, social and governance. Several U.S. companies have backtracked on their DEI and ESG commitments since Donald Trump was elected president.