DBS/POSB customers are increasingly embracing sustainable practices during festive seasons, with a notable rise in digital gifting and recycling traditional Ang Baos (red packets). To support these eco-conscious efforts, the bank has introduced enhanced eco-friendly gifting options and expanded its festive packet recycling initiative across its branches.
The bank has observed a significant uptick in the adoption of its eco-friendly digital gifting solutions, namely DBS QR Ang Bao and eGift. Leading up to this year’s Chinese New Year (CNY), there has been a 10% increase in QR Ang Bao orders placed through the bank’s online platform compared to the previous year. The redesigned QR Ang Bao features a slot-in design reminiscent of traditional Ang Bao envelopes, catering to customers’ preferences for both convenience and sustainability.
In 2023, the bank witnessed robust growth in digital gifting, with over SGD 15 million gifted via DBS QR Gift and eGift during CNY, marking a 30% increase from the previous year. Notably, the trend was embraced by various demographics, including married couples, young singles, and seniors, reflecting a diverse customer base committed to sustainable practices.
Concurrent with the rise in digital gifting, more individuals are also recycling their traditional festive packets. Last year, DBS/POSB collected a substantial 4,300kg of packets through its annual recycling initiative, double the volume collected in 2021. To encourage further recycling efforts, the bank has deployed over 40 recycling bins across its full-service branches and selected self-service branches, marking a 30% increase compared to the previous year. These bins facilitate the recycling of used packets not only from CNY but also from other festive occasions, such as weddings and cultural celebrations.
The collected packets are sent to Tay Paper Recycling, where they are repurposed into paper products such as cardboard boxes. Additionally, seniors from Lions Befrienders and the bank’s volunteers collaborated to create a 2.5-meter-high Ang Bao art piece using over 8,500 recycled packets, showcasing the community’s commitment to sustainability.
DBS/POSB’s red packets and sleeves are crafted from environmentally friendly paper and printed using soy-based ink, enabling easy recycling. The red packets feature generic well wishes, allowing recipients to reuse them for various celebratory occasions. This year’s red packet design pays tribute to Singapore’s heritage and community spirit, with the interior doubling as a DIY dragon playground papercraft template, symbolizing the Year of the Dragon.
In line with its sustainability initiatives, POSB has launched a dragon-themed social media campaign aimed at fostering community engagement and giving back. Until 24 February, individuals are encouraged to share CNY moments using the POSB dragon filter on Instagram, TikTok, and Facebook. For each post or story shared, POSB will donate $8 to the POSB PAssion Kids fund, supporting children from low-income families, children with disabilities, and youths at risk. Visitors to the River Hong Bao event can also participate in the campaign and stand a chance to win up to $88 by using the POSB dragon filter to capture photos with Smiley, the POSB mascot.
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