Supporting carbon capture and storage in the UK

Capturing impact

We are proud to support the UK’s HyNet industrial cluster, acting as the mandated lead arranger and hedging bank in the GBP2.5 billion financing for the carbon transportation and storage infrastructure developed by Eni.

• 4.5mn

  tonnes of CO2 initially transported and stored

• 10mn

  tonnes of the same anticipated by the early 2030s

• 2000

  skilled jobs anticipated in construction phase

This reinforces our long-standing commitment to supporting clients as they navigate decarbonisation.

Quentin Savinaud

Global Head, Energy Sector, Standard Chartered

Building on expertise

Our role in HyNet builds on our growing expertise in the CCS sector. We previously supported financing for both the Net Zero Teesside (NZT) Power and the Northern Endurance Partnership (NEP) projects, part of the UK’s East Coast Cluster.

These landmark developments collectively demonstrate our commitment to helping deliver the UK’s first full-scale CCS infrastructure networks and to enabling the decarbonisation of hard-to-abate sectors.

As momentum builds across the carbon capture value chain, our intention is to leverage our experience in the UK to support the development of carbon capture across the Middle East and ASEAN.

Ben Daly

Global Head, Transition Finance, Standard Chartered

Standard Chartered has an important role to play in supporting our clients, sectors and markets to deliver net zero, but to do so in a manner that supports livelihoods and promotes sustainable economic growth. We currently provide financial services to clients, sectors and markets that contribute to greenhouse gas emissions however we’re committed to net zero in our own operations by 2025 and in our financed emissions by 2050.

Learn more about our approach.