Sustainability 

Standard Chartered’s sustainability agenda maintains an unwavering focus on addressing the long-term challenges that the world faces as well as takes into account the fundamental task of re-establishing confidence and trust in banks. We are focused on building a sustainable business and creating long-term value for our clients, investors and society as a whole.

Our approach to sustainability focuses both on continuing to manage our core banking practices responsibly and on the seven specific areas which have been at the heart of our sustainability strategy for some years now. Click here to read more about our seven priorities.

Below highlights three of the seven priorities:

Protecting the environment

Standard Chartered is conscious of our responsibility to cut carbon dioxide emissions caused by our operations around the world. We work with employees, clients, and other stakeholders to raise awareness, stimulate action and reduce their impact on the environment.

We have an ambitious target for 2011 and beyond and we continue to play in international platforms:

Sustainable finance

Standard Chartered is helping to finance a shift to the low-carbon economy. Our Wholesale Banking renewable energy and environmental finance business specifically focuses on clean and renewable energy, water and energy efficiency, as well as carbon trading. And we are working with our peers and other stakeholders in the financial services sector to encourage their greater engagement in responding to climate change. Some instances include:

  • At the Clinton Global Initiative in 2007, we committed between $8 billion and $10 billion to finance renewable and clean technology projects by 2012. To date, the Bank has financed over $3 billion renewable energy and clean technology projects.
  • Focused team on renewable energy and environmental finance. We have adopted a two-phase approach to serve our clients across the footprint. Phase one is building on our core renewable energy strengths and franchise in project finance, and leveraging that across the Bank's full product offering and across the full supply chain. Phase two is about expanding to support clients in the broader environmental finance and clean tech areas of energy efficiency, waste, water, forestry and carbon.
  • In 2008, we implemented a series of ‘Position Statements’ providing guidance on two broad issues (climate change and child labour) and 11 sectors from mining and metals to biofuels, forestry and palm oil. These statements identify the social and environmental standards we expect from the clients we finance.
  • Since 2003, the Bank adopted the Equator Principles, which provide a framework to help banks manage the impacts on society and the environment from infrastructure and other projects that they finance. Standard Chartered applies them to all project finance and advisory engagements, exceeding the minimum threshold required by the Principles which are limited to those above $10 million.

Access to Financial Services

Improving access to financial services is a vital part of promoting economic growth and helping bring people out of poverty. One of the ways that we are contributing to greater financial inclusion is to stimulate grassroots economic development in the markets within our geographic footprint.

Standard Chartered encourages the growth of the microfinance industry by working with microfinance institutions (MFIs) and providing them with support and technical assistance to build capacity and become financially sustainable, commercial businesses.

  • At the Clinton Global Initiative meeting in 2006, the Bank committed to provide $500 million of credit to MFIs within 5 years. As at the end of 2008, more than half the commitment was achieved.
  • In December 2008, at the inaugural Clinton Global Initiative, Asia, Standard Chartered committed to a $450,000 women’s empowerment programme to enhance financial literacy, financial planning, investment and capacity building for women owners of small businesses. We aim to reach 5,000 women in the region by 2011.
  • Standard Chartered continues to lead the growth of the Islamic finance industry in many of our markets. Our Islamic finance products and services in Wholesale Banking is Shariah-compliant. In 2008, we established our first fully-owned Islamic finance subsidiary, in Malaysia.