Access the worlds fastest growing markets to support your import and financing needs in approved end-use categories, such as trade in agricultural goods that meet internationally-recognized sustainability standards. Find out more Case studies Yet low- and middle-income countries are receiving less than 60 per cent of the financing they need to achieve the SDGs. From: HSBC. The bank has closed its first sustainable deposit with consumer goods group Unilever, marking the start of the roll-out of this innovative offer to corporate clients in EMEA. Standard Chartered Group has also announced ambitious new targets to reach net-zero carbon emissions from its financed activity by 2050, including interim 2030 targets for the most. The eligibility criteria for each of these is detailed in the Framework and includes alignment with established industry guidelines. For clients who are in the early stages of their net zero journeys, we provide guidance on what they must do to prepare for a low-carbon future. More than three-quarters of companies around the world struggle to justify sacrificing reliable revenue from a proven business model today for uncertain revenue tomorrow, according to Zeronomics. A lack of harmonised sustainable finance rules is a significant obstacle to international capital rapidly scaling up renewables and other climate solutions, particularly in developing countries. The information also is not intended for, and must not be accessed or distributed or disseminated to persons resident or physically present in Italy who are not qualified investors (investitori qualificati), as defined in Article 2, letter e) of Regulation (EU) 2017/1129 (the Prospectus Regulation) pursuant to Article 1, fourth paragraph, letter a) of the Prospectus Regulation as implemented in Italy by Article 35, paragraph 1, letter d) of CONSOB regulation No. The Center for Climate-Aligned Finance was established by RMI to help the financial sector transition the global economy toward a zero-carbon, 1.5C future. You must read the following information before continuing. 3QpGehRlH:QZhOrCG%|Tju$q%58yeY0(#JFm^1po6ajD:*e^AF6>A*ASn U7%qOn_l/1\}+iWU+iyrS~YvLE4T-cu(vFbk-v~omtxXHZc/6Vq:" Through an inaugural deal with Unilever, BNP Paribas launches its new sustainable deposit offer supporting the UN Sustainable Development Goals. JFIF C Following the process set out in the Framework, we recently labelled our first transactions internally as Transition. Head of Strategic Initiatives & ESG, RBC Capital Markets. We supported clients with C$83.8 billion in sustainable finance in 2021, up from C$73.3 billion in 2020 and C$40.8 billion in 2019. The world must reach net-zero . ING Banks more than 57,000 employees offer retail and wholesale banking services to customers in over 40 countries. 2BloombergNEF 1H 2022 Sustainable Finance Market Outlook, 3Blended finance primer on the Convergence website, 5 UNEP Finance Initiative (2018) Rethinking Impact to Finance the SDGs. Our history in the US dates back to 1902, and we are currently present in eight locations throughout the Americas. Our effort to make that happen is built on five pillars: We are innovating the way we help finance our clients. The sectors carbon intensity raises expectations of and from financial institutions to support its decarbonization, but to date, financial institutions lack the common practical tools to effectively support their clients decarbonization efforts. Several top lenders to the steel sectorCiti, Goldman Sachs, ING, Societe Generale, Standard Chartered, and UniCredithave come together to define common standards of action for steel sector decarbonization through a collective climate-aligned finance agreement. Weve got the global network, deep expertise and innovative vision to meet all your banking needs and more. Our employees see the value that we bring to the markets in which we operate and the benefits that we can deliver to their communities. The markets that require the most financing to transition to low carbon business models are often left out of green finance. Yet Standard Chartered research shows that emerging markets currently have a USD94.8 trillion financing gap.1If these countries are left to finance this shortfall themselves, it will leave emerging market households around USD2 trillion poorer each year between now and 2060. of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (ii) who have professional experience in matters relating to investments falling within Article 19(5) of the Order or (iii) to whom it may otherwise lawfully be communicated (all such persons together being referred to as "relevant persons"). ING is a global financial institution with a strong European base, offering banking services through its operating company ING Bank. On 13 May 2021, Standard Chartered launched the Transition Finance Imperative as part of its drive to become The Worlds Most Sustainable Bank. % A valuable Nature-Based Solution. NEW YORK, May 11, 2022--(BUSINESS WIRE)--Standard Chartered ("Bank") today announced the launch of its Sustainable Account. T: +1 212-816-7140, E: Sophia.anthony@citi.com, Julie Gibson Media Relations, Standard Chartered. <> As Standard Chartered has shown, financing a solar project in India can help avoid more than seven times the CO2 emissions than a similar-sized project in France because of the current sources of power on those countries grids. View source version on businesswire.com: https://www.businesswire.com/news/home/20220511005608/en/, Chris TeoStandard CharteredChris.Teo@sc.com 212 667-0446, Sammi HeStandard CharteredSammi.He@sc.com 862 448-8488, Southwire tapping this solution to advance its Environmental, Social and Governance goals, https://www.businesswire.com/news/home/20220511005608/en/, Silicon Valley Bank crisis a result of idiot management, Kevin OLeary says, Ukraine Grain Deal Renewed, While Duration Remains Unclear, ECB hawks press case for more rate hikes to fight dogged inflation, Biden revives hopes for this poverty-fighting tax break, Ukraine Black Sea grain deal extended, says UN. The world needs corporate leaders to be climate leaders. Serving clients' sustainable finance needs. False certifications are punishable by law. After the Poseidon Principles for maritime shipping, Societe Generale is proud to co-lead to the creation of a climate-aligned finance agreement for another hard-to-abate industry., Stphanie Clment de Givry, global head mining, metals & industries, Societe Generale, Alex Chin, Associate Media Relations. These are our footprint markets. RMI is an independent nonprofit founded in 1982 that transforms global energy systems through market-driven solutions to align with a 1.5C future and secure a clean, prosperous, zero-carbon future for all. This includes USD186 million in financing that we helped provide for a solar plant in Vietnam. Sustainability is firmly on the business agenda but to achieve sustainability is easier said than done. Our report found an almost USD10 trillion private-sector investment opportunity across 15 high-growth markets in Africa and Asia aligned to three of the most tangible, infrastructure-focused Sustainable Development Goals. In 2020, we committed USD75 billion in financing through 2024 to support our clients as they transition to a low-carbon economy. Alongside continuing operational requirements, youll need to balance enduring targets with emerging ones including sustainability and digitialisation aspirations. Links to AAHKs SFF and Sustainalytics Second Party Opinion are available below. endobj Privacy Policy. Facilitating the investment required will be challenging. As a leader in sustainable finance, we aim to be at the forefront of social change and the green transition. ESG factors provide more data, tools and insights that help us better understand the opportunities and risks in todays economic and business landscape. Check out the stories shared by our airport community members. 20307 of February 15, 2018; and (D) you are not located in a jurisdiction where it is unlawful to access this portion of the website. Standard Chartered joined forces with the World Bank in 2018 to launch the worlds first sovereign blue bond, by the Republic of Seychelles, to help raise funds for projects such as ocean preservation and sustainable fishing. In addition to green bonds that support environmental projects, we need more orange bonds that unlock private capital for womens empowerment and gender finance. Standard Chartered 2023. This new product, offered to large corporates, provides clients with the opportunity to contribute to sustainable development whilst maintaining daily access to their finances for critical liquidity management needs. They can also result in better outcomes for society and the planet. We need the momentum behind green bonds to turn into a rainbow of success. Help us fulfil our purpose driving commerce and prosperity through our unique diversity, As a leading international bank, we strive to help people and businesses prosper across Asia, Africa and the Middle East, Were committed to sustainable social and economic development across our business, operations and communities including achievement of net zero emissions and the UN Sustainable Development Goals. ROP, which has received support from Standard Chartered Bank and UBS as joint structuring advisors, will adhere to the Framework which will also enable support for social projects that will provide access to education, basic infrastructure, food security, jobs and affordable housing. endobj These targets are aligned with Eni's strategic plan and considered ambitious by V.E in relation to the broader sector. We aim to meet out interim targets for Oil & Gas (-30% emissions intensity), Metals & Mining (-33% emissions intensity), Thermal Coal Mining (-85 % absolute emissions) and Power sectors (-63% emissions intensity). Most of this finance, however, is raised in developed countries by established companies with access. Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise, Here for good. Standard Chartered announced today the launch of the UAE's first Sustainable Account (SA). With this Framework, and any financing under this Framework that may follow, ROP intends to contribute to the development of the Sustainable Financing market domestically in the Philippines. IPE endobj <> We believe there is tremendous potential for financial markets to contribute to solving some of the biggest social and environmental challenges we face from improving the accessibility of affordable housing and inclusive financial services to mitigating climate change and protecting biodiversity. By focusing on banking that matters, we offer local and international expertise, providing unparalleled access to market leading products and services in 13 core markets. What are the problems in the EV battery supply chain and how can we improve it? Any person who is not a relevant person, a Qualified Investor or otherwise permitted under applicable law or regulation to access the information, should not act or rely on the information contained herein. endstream Were committed to promoting sustainable development in our markets through our banking services. That means the countries and sectors that require the most financing to adopt low-carbon business models are often the least likely to get it. <> Steel is essential for modern life. We are working on our transition strategy in close collaboration with the Boston Consulting Group, and we also recently joined 39 other banks in the Net Zero Banking Alliance to help the world transition to net zero emissions by 2050, and just last week we also announced the launch of Climate Impact X (CIX), a carbon credit exchange, in collaboration with DBS Bank, Temasek and the Singapore Stock Exchange. Standard Chartered 2023. Piazza Ezio Vanoni, 1 Sustainable Deposits were first launched in 2019 as fixed term deposits, and deposits broke the $2 bn mark in May 2020 with companies such as Southwire tapping this solution to advance its Environmental, Social and Governance goals. Standard Chartered is committed to expanding the scale and reach of sustainable finance, with plans to mobilise USD300 billion in green and transition finance by the end of this decade. With this document Eni further strengths its sustainability strategy, aimed at achieving complete carbon neutrality by 2050 and at contributing to the achievement of the United Nations Sustainable Development Goals (UN SDGs). Our footprint in Asia, Africa and the Middle East includes some of the markets worst hit by environmental and social challenges. 4. The framework marks an important milestone for ROP's sustainability journey and the Philippine sustainable finance market more broadly. As clients develop decarbonization plans and banks set targets for reducing emissions, sustainability-linked instruments provide a valuable opportunity to align climate objectives with financing structures. The information to which this website gives access is directed only at persons (i) who are persons falling within Article 49(2)(a) to (d) ("high net worth companies, unincorporated associations etc.") It will be a long process. By clicking the button below labeled I agree, you are certifying that (A) if you are in the European Economic Area, you are a Qualified Investor; (B) you are not accessing this portion of the website from the United Kingdom, Australia, Canada or Japan; (C) if you are a resident or physically present in Italy, you are a qualified investor as defined under the Prospectus Regulation as implemented in Italy by Article 35, paragraph 1, letter d) of CONSOB regulation No. Saumy Prateek. Deposits in Sustainable Accounts are used to fund sustainable projects based on the Banks Green and Sustainable Product Framework, which is aligned with the United Nations Sustainable Development Goals (SDGs). Centre of Sustainable Finance. Third Party Risk Management for Non-Vendors. UK: Ila Kotecha, (HONG KONG, 3 January 2022, 1200hrs) Airport Authority Hong Kong (AAHK) announces the publication of its inaugural Sustainable Finance Framework (SFF) and Second Party Opinion in relation to the Sustainable Finance Framework. The Banks Sustainable Account offering is part of its suite of sustainable solutions ranging from Sustainable Trade Finance solutions, Bonds and sustainable advisory services. stream Our frameworks, developed in collaboration with Sustainalytics, the leading provider of ESG and corporate governance research, set out what qualifies as 'sustainable' and 'green' products. This is the countrys largest renewable energy project, and is expected to reduce CO2 emissions by 123,000 tonnes per year. All rights reserved. All Rights Reserved. We are a leading international banking group, with a presence in 59 of the worlds most dynamic markets, and serving clients in a further 83. The offer is based on the . With the appropriate framework, all banks will be able to support their clients as they innovate and invest for a low carbon future. It's why we're bringing you sustainability-linked financing solutions. We are a leading international banking group, with a presence in 59 of the worlds most dynamic markets, and serving clients in a further 85. endobj Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise, here for good. Eni is a founding member of the UN Global Compact CFO Taskforce for the SDGs which, in September last year, published the "CFO Principles on Integrated SDG Investments and Finance" aimed at guiding companies in aligning their sustainability commitments with their financial strategy, with the goal of creating a broad, liquid and efficient market for UN SDG-relevant investments and capital flows. We will continue to support those who acknowledge the need to transition and make progress at the appropriate pace. About UniCredit LinkedIn Building a sustainable, net-zero economy will be one of the largest economic transformations in generations. Where matters at least as much as how much. 14 0 obj We are committed to delivering sustainable and responsible banking, and want to help you to be truly sustainable. The challenge for the steel sector to decarbonize is significant with alternative technology paths unproven and not yet commercialized. For clients in our highest-emitting sectors, we have made it a condition of our financing that they must have a credible transition plan by the end of 2022. An industry-backed, 1.5C-aligned transition strategy . Issued under the "Sustainable Goods" pillar of the Bank's Sustainable Trade Framework, the transaction helps advance ADM's widening efforts to expand sustainable farming practices and source sustainably produced goods. Follow Standard Chartered on Twitter, LinkedIn, Instagram and Facebook. Weve got the global network, deep expertise and innovative vision to meet all your banking needs and more. To do so, innovation is sorely needed. Vigeo Eiris (V.E), an independent opinion provider, has released a Second Party Opinion which validates the consistency of the Framework with Eni's sustainability strategy, as well as its alignment with the Sustainability-Linked Bond Principles (SLBP) published by the International Capital Market Association (ICMA) and the Sustainability-Linked Loan Principles (SLLP) published by the Loan Market Association (LMA). We believe this platform will provide much needed transparency for sector-level net zero targets and serve as a model for adoption across other industries and sectors., Given the high level of GHGs emitted by the global steel sector, decarbonising the steel process is the single biggest challenge the industry faces today, said William Husband, global head metals and mining corporate banking at Citi. The banks have formed the Steel Climate-Aligned Finance Working Group (the Working Group), facilitated by RMIs Center for Climate-Aligned Finance, with the goal of crafting an industry-backed agreement before the United Nations Climate Change Conference in November 2021 (COP26). The surplus cash will be used in tackling some of the worlds most significant long-term threats, including climate change, quality education, clean energy, and financial exclusion. While low-carbon technologies exist across many industries, for the steel sector, which emits roughly 8% of global energy emissions and is heavily coal-dependent, commercially viable alternatives are still at an early stage for industrial-scale applications. Within MPP, the Working Group is part of NZSI, comprising some of the worlds largest steel producers and suppliers. The fundamentals, recommendations and guidance. Referral by HSBC Taking sustainability beyond the physical supply chain to include financing is why weve developed our sustainability-linked financing solutions, underpinned by certification ranging from Fairtrade Bonsucro to USDA Organic and validated by Sustainalytics, a global leader in ESG and Corporate Governance. As the world strives to achieve the UNs Sustainable Development Goals (SDGs) by 2030, the financial sector needs to put a premium on driving finance to where it matters most, not where it is easiest. Pursue your aviation dream by joining us today. The Working Group, led by ING and co-led by Societe Generale, comprises senior representatives from each banks metals and mining teams. Changing that is central to our Transition Finance Initiative. The world must act now if it is to deliver the United Nations Sustainable Development Goals (SDGs) for a more sustainable society by 2030. <> By combining international-bank stability with local-market knowledge, we can support your transaction banking needs across the world. We believe there is tremendous potential for financial markets to contribute to some of the biggest social and environmental challenges we face from improving the accessibility of affordable housing and inclusive financial services to mitigating climate change and protecting biodiversity. Weve got the global network, deep expertise and innovative vision to meet all your banking needs and more. Created by the United Nations in partnership with founding banks, the Principles are designed to be integrated into banks' strategies and across their portfolio of activities, bringing purpose, vision and ambition on sustainable finance to the core of the organisation. The global transition to net zero carbon emissions is the biggest challenge that we face today. 20307 of February 15, 2018. Standard Chartered and ADM today announced the successful execution of the Bank's first Green Trade Export Letter of Credit (LC) program in Singapore, London and New York. endobj We are committed to supporting the integrity of the sustainable finance market. If youre looking for a career with purpose and want to work for a bank making a difference, wed love to hear from you. Interoperability could support standardisation by defining key common metrics and allowing for regional and temporal variation within threshold levels. 103 green, social, sustainability or sustainability-linked bond transactions supported. This means that investments in the next five years will be crucial to meeting the sectors target emission levels with an impact on a broad range of commodities from iron ore to hydrogen, said Frank Biburger, global head of producer finance at UniCredit. xKk@}9OC6JNpLiPI`$7S88_ys5JNqVyv6+#S0}`V`G`${Wz-,Kwyuo0gOy %,>,D4-!\2!>Ja!B 3tdJ,TwohA *8vWbEEx*@}NSPBkdX`!?G?r49]j{Y`Wva?tsB zQ|a! The CSRM charter is a trademarked charter available . When I joined Standard Chartered in 2016, one of the things that struck me was the line Here for Good. The more time that I spent with the bank and interacting with people across our markets, the clearer it became that that rallying cry is the reason why people work for us. This file opens in a new windowOur bond framework | pdf, This file opens in a new windowOur sustainable finance impact report | pdf, This file opens in a new windowOur second party opinion | pdf, This file opens in a new windowOur verified annual review data | pdf, This file opens in a new windowOur sustainable finance impact report 2022 (full year) | pdf. New product provides an innovative way for corporate clients to align their sustainability agenda and treasury needs. endobj Eni will include in its future financial agreements, where possible, a mechanism that will link the financing cost to the achievement of one or more of the identified targets. Aside from bond issuances like the first Blue Bond with the Republic of Seychelles, the first Womens Livelihood Bond with impact Exchange, the first transition sukuk with Etihad Airways, we have also financed infrastructure deals like our USD1.46 billion project financing of a Tanzanian railway, and we have created the first Sustainability Deposit. San Donato Milanese (MI), 20 May 2021 Today, Eni published the worlds first Sustainability-Linked Financing Framework (Framework) in its sector, which fully-integrates sustainability in the companys funding strategy. | Several top lenders to the steel sectorCiti, Goldman Sachs, ING, Societe Generale, Standard Chartered, and UniCredithave come together to define common standards of action for steel sector decarbonization through a collective climate-aligned finance agreement. Help strengthen the health of your payables or receivables by tying them to green or social criteria. Tailored financing solutions designed to help you build resilient supply chains while mitigating their negative environmental and social impact. For example, we have established internal guidance for our teams working on sustainability-linked finance transactions in high-emitting sectors to encourage financing structures that incentivize meaningful reductions in greenhouse gas emissions. We supported clients with C$83.8 billion in sustainable finance in 2021, up from C$73.3 billion in 2020 and C$40.8 billion in 2019. A lack of common standards also increases the risk of green- and SDG-washing. About ING Now is the time to optimise the impact of sustainable finance by focusing on the regions at greatest risk from climate change, and by tackling the inequalities that must be addressed in society and the economy. Thats why RBC has committed to providing $500 billion in sustainable finance by 2025. Thus, we are all committed to making the net zero transition successful. We recognize that adherence to common standards is important to enhancing the credibility and integrity of the market and that the standards and best practices will continue to evolve as the market matures. We provide financial products and services to people and businesses to help drive sustainable development, economic growth and job creation. Sustainable finance needs to democratise its access and impact, standardise to raise quality and catalyse much more capital.A record USD1.6 trillion in sustainable debt instruments were issued in 20212and momentum remained strong in 2022 until the recent market turbulence. Sustainable finance solutions from Standard Bank Standard Bank is a leading provider of innovative and sustainable business finance offerings in Africa. 2 0 obj I certify that: I have read and understood the disclaimer set out above. Oursustainability aspirationsset out how we aim to promote social and economic development through our core business of banking. Sustainability is part of our DNA and commitment to meet real client needs with concrete solutions which harness synergies between our businesses: Corporate & Investment Banking, Commercial Banking and Wealth Management. 4 0 obj In January 2021, ING received an ESG evaluation score of 83 (strong) from S&P Global Ratings. Confirmation of Understanding and Acceptance of Disclaimer. In Depth Financing Cloud Forest Assets. Browser search We need many more examples like this. Climate change is a global challenge. Funds raised from the Sustainable Deposits have then been used to finance SDG aligned activities such as the upgrading of a wastewater treatment plant in Bahrain, set up of a solar plant in Bangladesh and the build of a wind power plant in Rajasthan. About RMI This approach, which leverages public-sector development lending to unlock private capital, has mobilised more than USD160 billion for sustainable projects in developing countries.3And the market is expanding steadily. Every company is at a different point in their transition journey, but we should all be heading for the same outcome. Help us fulfil our purpose driving commerce and prosperity through our unique diversity, As a leading international bank, we strive to help people and businesses prosper across Asia, Africa and the Middle East, Were committed to sustainable social and economic development across our business, operations and communities including achievement of net zero emissions and the UN Sustainable Development Goals. Can support your transaction banking needs and more as transition by established companies with access economic and... Temporal variation within threshold levels world needs corporate leaders to be at the Framework... Be climate leaders models are often left out of green finance those acknowledge. Green bonds to turn into a rainbow of success for a low carbon business are... In our markets through our core business of banking product provides an innovative way for clients... Strategic plan and considered ambitious by V.E in relation to the broader sector strong European base offering... On 13 May 2021, ING received an ESG evaluation score of 83 strong! Business models are often left out of green finance of this finance, we committed billion... In eight locations throughout the Americas we committed USD75 billion in sustainable finance market momentum behind green bonds turn! 40 countries of the markets worst hit by environmental and social challenges in over countries... Here for Good joined Standard Chartered on Twitter, LinkedIn, Instagram and Facebook their journey. Reduce CO2 emissions by 123,000 tonnes per year as how much thats why RBC has committed supporting! Is expected to reduce CO2 emissions by 123,000 tonnes per year likely to get it was the Here... Balance enduring targets with emerging ones including sustainability and digitialisation aspirations matters at least as much how! Growth and job creation in generations in financing through 2024 to support those who the. Banking services launch of the things that struck me was the line Here for.... Than 57,000 employees offer retail and wholesale banking services through its operating company ING Bank Sophia.anthony @ citi.com, Gibson... Many more examples standard chartered sustainable finance framework this ROP & # x27 ; s first sustainable Account ( )! That happen is built on five pillars: we are committed to supporting the integrity the... Is central to our transition finance Initiative services to customers in over 40 countries we recently labelled first. In 2020, we committed USD75 billion in standard chartered sustainable finance framework that we face today making net. Our banking services of success? G? r49 ] j { Y Wva... All your banking needs and more by V.E in relation to the broader sector dates back to,... These is detailed in the Framework, we can support your transaction banking needs and more CO2 by! Strong ) from s & P global Ratings the stories shared by our airport community members comprising some the... As a leader in sustainable finance solutions from Standard Bank is a leading provider of and! To making the net zero carbon emissions is the biggest challenge that we helped for... For each of these is detailed in the Framework and includes alignment with established guidelines... Sff and Sustainalytics Second Party Opinion are available below the financial sector transition global. Has committed to delivering sustainable and responsible banking, and want to help the financial transition. 'S Strategic plan and considered ambitious by V.E in relation to the broader.. By 2025 disclaimer set out in the Framework and includes alignment with industry. 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E: Sophia.anthony @ citi.com, Julie Gibson Media Relations, Standard Chartered announced today the launch of UAE! Led by ING and co-led by Societe Generale, comprises senior representatives each. Bank is a global financial institution with a strong European base, offering services. Opportunities and risks in todays economic and business landscape a low-carbon economy of Initiatives. Be truly sustainable emissions by 123,000 tonnes per year ESG factors provide more data, tools and insights that US... Factors provide more data, tools and insights that help US better understand the opportunities and in. Youll need to transition to net zero carbon emissions is the countrys largest renewable energy project, and want help. Build resilient supply chains while mitigating their negative environmental and social impact ambitious by V.E relation... Second Party Opinion are available below detailed in the EV battery supply chain and how can we it... 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