Press release
Standard Chartered issues inaugural EUR 1bn Green Bond
EUR 1bn Green Bond will focus on renewable energy and green buildings in Asia, Africa and the Middle East, underscoring the bank’s ongoing commitment to sustainable growth.
London – Standard Chartered, a leading international cross-border bank connecting the world’s most dynamic markets, has today issued its inaugural Green Bond.
This is Standard Chartered’s fifth Sustainable Finance issuance, but its first in Green-only format, underscoring the bank’s commitment to be a repeat issuer of sustainable debt. The transaction, in EUR 1bn size will help finance projects including renewable energy, green buildings and circular economy solutions. Proceeds will also finance climate resilient infrastructure, energy efficiency, sustainable water and natural resource solutions, as well as projects which deliver against circular economy ambitions in line with the our Sustainability Bond Framework.
Diego De Giorgi, Group Chief Financial Officer, Standard Chartered said: “Our first Sustainable Finance issuance in a Green-only format is an important milestone and demonstrates Standard Chartered’s unique ability to raise capital in the world’s largest financial centres and deploy it across borders, into those markets where the need for sustainable finance is most acute. As a global bank that sits at the centre of capital, trade and investment flows, across both developed and developing economies, this issuance highlights how we’re providing financial solutions to support long-term growth across our markets.”
Marisa Drew, Chief Sustainability Officer, Standard Chartered said: “In emerging markets, every dollar of financing can have a disproportionate impact in terms of reducing carbon emissions. Our financing of renewable energy projects in Indonesia will have a 10 times greater impact on CO2 avoided than a similar sized project in France due to the displacement of power on more carbon intensive grids – another reason why an issuance like this makes a significant contribution to global sustainable growth and development.”
The proceeds raised from the inaugural green issuance will reference Standard Chartered’s Sustainable Finance asset pool, which includes USD17.4 billion in green assets – with more than 70% located in Asia, Africa and the Middle East. These assets come from 355 green projects across ten thematic areas which help to lower carbon emissions, enhance climate adaptation and resilience, develop and manufacture eco-efficient products, reduce waste and wastewater, and enhance the sustainability of natural resources.
Dan Hodge, Group Treasurer, Standard Chartered said: “Investor demand was strong for this issuance with orderbooks peaking at over EUR 3.9bn. Investors in our Sustainable Finance offering continue to enjoy the benefit of facing a UK-regulated Bank counterparty, while the impact delivered through our products and in this case, through our first Green Bond, takes place in many of the most dynamic and high-growth developing markets.”
Salman Ansari, Global Head, Capital Markets, Standard Chartered said: “SCPLC navigated what transpired to be the busiest ever day in EUR IG credit markets to price its debut Green offering, having previously issued in Social and Sustainable format. The EUR 1bn sized offering landed flat to the Issuer’s secondary curve – credit to the strength of our credit and the investor interest in our sustainability story.”
As reported in the Bank’s 2024 Sustainable Finance Impact Report, green asset impact over the past year included:
- Enhancing flood resilience and connectivity in Ghana through financing for the design and supply of 89 rapid-response emergency bridges for flood impacted areas across the country. These bridges will mitigate catastrophic flood damage and restore connectivity for rural communities, enabling quicker, safer and more efficient access to employment, education and healthcare.
- Accelerating India’s e-mobility transition via a USD15.2 million facility to GreenCell mobility to procure, operate and maintain a fleet of 150 electric buses in Surat, Gujarat. This first-of-its-kind project finance green loan in India’s e-mobility sector is expected to support the avoidance of 99,474 tonnes of CO2 equivalent over the lifetime of the ten-year loan. By deploying electric buses, GreenCell is reducing costs and eliminating emissions from petrol, diesel, and compressed natural gas. Beyond cutting air pollution, the deployment of new electric buses enhances the quality of public transportation, providing passengers with a safer, more comfortable ride – benefitting both local communities and the environment.
- Supporting Türkiye’s second-largest solar project under a EUR249 million Export Credit Agency supported green loan to Kalyon Enerji, a leading Turkish energy company to drive the development of Türkiye’s second-largest solar power project. This transformative initiative will account for approximately 11 per cent of the country’s solar power generation. Once completed, the project is expected to generate enough renewable electricity to power more than 80,000 households annually, reducing dependence on fossil fuels and contributing to advancing Türkiye’s renewable energy ambitions.
Standard Chartered’s Sustainable Finance asset pool is defined by the bank’s Sustainability Bond Framework which carries a Second Party Opinion from Sustainalytics. In September 2024, the bank reported USD23.3 billion in total Sustainable Finance assets with 78 per cent of these located in Asia, Africa and the Middle East.
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NOTES TO EDITORS
For further information please contact:
Charlotte Love
Director, Sustainability Communications