HOW WE WORK
We engage our stakeholders and manage our approach through standards and policies
Engaging our stakeholders
We’re in regular dialogue with clients, staff, investors, non-governmental organisations (NGOs), governments and regulators.
This helps us identify and understand environmental and social trends and opportunities in our markets. We also engage directly with stakeholder groups on key topics, for example, our opens in a new windowresponse to Bank Track in 2018.
We build our knowledge and understanding of key issues and share best practice through our membership of industry and sector organisations, adoption of global commitments, and implementation of guiding frameworks. We share stakeholder feedback with our Board and senior managers within the Bank, and report on our progress each year in opens in a new windowour Annual Report and opens in a new windowsustainability summary.
In addition to our suite of sustainability disclosures, we engage with a range of agencies on our Environmental, Social and Goverance or ESG approach.
|opens in a new windowMSCI||As of June 2020, our MSCI ESG rating was ‘AA’|
|opens in a new windowSustainalytics||As of July 2020, our Sustainalytics ESG rating was 28.7, ‘Medium’ risk|
|opens in a new windowCDP Climate||In 2020 we were rated ‘C’ in CDP Climate. See a full copy of our response.|
|opens in a new windowWorkforce Disclosure Initiative||In 2019 our WDI disclosure score was 70%|
|opens in a new windowFTSERussell FTSE4GOOD||As of October 2020, we are included in the FTSE4Good index series|
|Platform or organisation||Description|
|opens in a new windowBusiness for Societal Impact (formerly LBG)||Business for Societal Impact (formerly LBG) is an internationally recognised standard for measuring corporate community investment. More than 300 companies around the world use the LBG framework to measure, manage and report the value and achievements of the contributions they make. We are members of the LBG Network.|
|opens in a new windowEquator Principles||The Equator Principles are a set of voluntary guidelines for managing social and environmental issues relating to financing for projects. We only provide loans to projects that adhere to these principles.|
|opens in a new windowInternational Association for Volunteer Effort (IAVE)||Working with a distinctive global perspective IAVE brings together leaders of volunteering, providing a platform to promote, strengthen and celebrate volunteering throughout the world. We are a member of the Global Corporate Volunteer Council.|
|opens in a new windowLondon Bullion Market Association (LBMA)||LBMA is the global authority for precious metals, ensuring the highest levels of leadership, integrity and transparency for the global precious metals industry by setting standards and developing market services. We are a member of the LBMA. In line with this membership, the Bank operates under a responsible sourcing framework to identify, assess and manage risks associated with the trading of physical Bullion. This is in compliance with LBMA’s Global Precious Metals Code and Regulation (EU) 2017/821 for Conflict Minerals. The Bank will only source Bullion, in the course of its business, from legitimate and ethical sources.|
|opens in a new windowRoundtable on Sustainable Palm Oil (RSPO)||RSPO promotes the growth and use of sustainable palm oil products through credible global standards and engagement of stakeholders. We are a member of the RSPO.|
|opens in a new windowScience Based Targets (including the Financial Institutions Expert Advisory Group)||The initiative’s overall aim is that by 2020, science-based target setting will become standard business practice and corporations will play a major role in driving down global greenhouse gas emissions. It is a collaboration between CDP, the United Nations Global Compact (UNGC), World Resources Institute (WRI), and the World Wide Fund for Nature (WWF) and one of the We Mean Business Coalition commitments. We are committed to Science Based Targets.|
|opens in a new windowTaskforce on Climate Related Financial Disclosures (TCFD)’||TCFD is a market driven initiative, set up to develop a set of recommendations for voluntary and consistent climate-related financial risk disclosures in mainstream corporate reporting. We are a TCFD supporter.|
|opens in a new windowThe Banking Environment Initiative (BEI)and Consumer Goods Forum (CGF) ‘Soft Commodities Compact’||The BEI, in collaboration with the CGF, established the ‘Soft Commodities’ Compact, an initiative that aims to mobilise the banking industry as a whole to contribute to transforming soft commodity supply chains and therefore help clients achieve zero net deforestation by 2020. We are a member of the Soft Commodities Compact.|
|Thun Group||The Thun Group is an informal group of bank representatives that work together with the primary purpose of furthering understanding of the UN Guiding Principles on Business and Human Rights within the context of banking and considering how they may be applied across the range of different banking activities. Standard Chartered is a participant in the Thun Group.|
|opens in a new windowUK Sustainable Investment and Finance Association||The UK Sustainable Investment and Finance Association is the membership association for sustainable and socially responsible financial services, promoting responsible investment and other forms of finance that support sustainable economic development, enhance quality of life and safeguard the environment.|
|opens in a new window United Nations Environmental Programme (UNEP) Finance Initiative||We're a signatory of the UNEP Statement on Environment and Sustainable Development, a global partnership between UNEP and the financial sector to understand the impacts of environmental and social considerations on financial performance|
|opens in a new window United Nations (UN) Principles for Responsible Banking||The Principles for Responsible Banking are a framework to systematically identify and seize new business opportunities created by the emerging sustainable development economy, while at the same time enabling banks to effectively identify and address related risks.|
|opens in a new windowBusiness Fights Poverty||The Business Fights Poverty community is committed to turning the promises of the Sustainable Development Goals into reality, through open collaboration between business, non-profit and government professionals. We are supporter of Business Fights Poverty.|
|opens in a new windowClimate Bonds Initiative||The Climate Bonds Initiative promotes investment in projects and assets necessary for a rapid transition to a low-carbon and climate resilient economy. We are a partner of the Climate Bonds Initiative.|
|opens in a new windowCollective Commitment to Climate Action||The Collective Commitment to Climate Action sets out concrete and time-bound actions that banks will take to scale up their contribution to and align their lending with the objectives of the Paris Agreement on Climate. We are a signatory.|
|opens in a new windowGreen Bond Principles||The Green Bond Principles are voluntary process guidelines that recommend transparency and disclosure and promote integrity in the development of the Green Bond market. We report in line with the Green Bond Principles.|
|opens in a new windowGreen Investment Principles for Belt & Road||The Green Investment Principles aim to incorporate low-carbon and sustainable development into projects in Belt and Road countries, which represent approximately 40% of the earth’s total land area and 55% of total CO2 emissions. We are signatories to the principles.|
|opens in a new windowInternational Education Funders Group||The International Education Funders Group (IEFG) is an affinity network of over 90 foundations and donor-advised funds that support basic education in the Global South, from early childhood up to secondary, and adult literacy.|
|opens in a new windowThe Institute for Human Rights and Business (IHRB)||IHRB’s mission is to shape policy, advance practice and strengthen accountability in order to make respect for human rights part of everyday business. Standard Chartered has donated to support IHRB’s work.|
|opens in a new windowKatowice Commitment||A commitment – made at the United Nations climate summit in Katowice, Poland in 2018– signed by Standard Chartered, ING, BBVA, BNP Paribas and Société Générale to ensure that they and their clients are supporting a shift from a high- to low-carbon economy in line with science-based scenarios.|
|opens in a new windowLiving Wage Foundation||The Living Wage Foundation promotes the adoption of a living wage by all employers in the UK. We are an accredited living wage employer.|
|opens in a new windowNatural Capital Finance Alliance (NCFA)||Financial Sector signatories of the NCFA demonstrate their commitment to integrate natural capital risks and opportunities into their products and services. We are a signatory of the NCFA.|
|opens in a new windowWomen's Empowerment Principles||A set of Principles offering guidance to business on how to promote gender equality and women’s empowerment in the workplace, marketplace and community. We are supporters.|
|opens in a new windowWorld Economic Forum-Promoting Global Financial Inclusion||This project aims to foster full access to, and use of, affordable financial services for the underserved through digital means. It will accomplish this through regional activities focusing on: digital inclusion, collaboration, and improved financial inclusion metrics. We are a supporter of the Promoting Global Financial Inclusion project.|
Standards and policies
We have a range of standards and policies that guide our approach to doing business in a sustainable way.