We have a Group structure operated through both subsidiaries and branches, and maintain a consistent approach to overall governance, while respecting local legal, regulatory and governance requirements. During the year under review, governance was managed across the Group’s eight geographic regions – through the respective regional chief executive officer offices, the business and functions. As part of the business reorganisation in 2015, the number of regions has been reduced to four. This ensures that the Group is effectively managed and controlled in line with the new strategy, announced in November 2015, the Group’s values and culture, and with regard to the requirements of all the Group’s stakeholders. In addition to clients, these stakeholders include governments, regulators, shareholders, employees, suppliers and the communities in which it operates.

As a leading international bank, we strive for best practice in corporate governance across our footprint. We believe that simply complying with written corporate governance standards is not enough. It is vital for companies to have an underlying culture with behaviours and values that support effective corporate governance. It is the responsibility of all our employees to be responsive and vigilant to ensure compliance with both the letter and the spirit of our governance framework. At Standard Chartered, every employee is expected to live the Group’s brand promise, Here for good, and be part of a culture that is open and challenging, yet cohesive and collaborative. We take care to ensure that all employees have, and demonstrate, the necessary skills, values and experience commensurate with their responsibilities. We place as much emphasis on the way employees behave as on what they deliver by mapping rewards and recognition to demonstrated values in our appraisal systems.

People and Values

Practicing strong governance, looking after our people and minimising our direct environmental impacts are central to being a responsible company.

Our highlights in 2015

  • Created a simplified organisational structure, with clearer accountability
  • Continued to reinforce the importance of good conduct through training and performance assessments
  • Equipped our leaders and line managers to guide our people through periods of change
  • Recognised for promoting disability in the workplace, building on our strength in diversity and inclusion

  • To deliver on the new global strategy announced in November 2015, it is imperative that our leaders and line managers are equipped with the skills to provide reassurance and clarity to our people. We have been mindful not to lose focus on the elements of our people strategy that enable us to uphold our brand promise, Here for good: for many of our people this underpins why they chose to join the Group, as well as why they stay on.

    Group-wide there was a decrease of 8 per cent in the headcount as compared to 2014 which was a result of the actions taken to deliver business and operational efficiencies. In India, we continue to invest in attracting talent with a workforce of over 19,000 employees across the footprint in 2015.

    My Voice employee engagement survey was launched in October 2014 to benchmark employee engagement drivers across the Group; it measured employee sentiment and qualitative feedback across a variety of areas, including conduct, leadership and strategy. It was our intention to measure progress on the 2014 survey in October 2015. However, we took the decision to postpone the survey until the reorganisation of our business had been embedded. In its place, we implemented a number of pulse surveys and informal feedback loops across the organisation to determine sentiment and identify any areas for concern. Where feedback indicated that our people required further clarification on certain issues, we were able to respond with key message documents and toolkits. This provided leaders and line managers with the resources necessary to provide open, honest and timely communications.

    We are conducting the next My Voice survey in mid 2016, allowing for action plans and subsequent engagement activities to take place within the correct team structures. This will also provide a more accurate benchmark for future surveys, which is important in our measurement of progress towards further embedding and strengthening a culture of good conduct.


    Upholding good conduct remains central to our approach to doing business and is an area where we continue to invest and dedicate considerable resource. All senior leaders and managers are required to take personal responsibility for their own conduct and that of their teams, and this is explicitly included in line manager performance objectives, with a continued focus on driving quality conversations on conduct and what this means in practice day-to-day.

    Our Group Code of Conduct was refreshed in September 2015 to cover all aspects of conduct across the Group. By the end of 2015, 98 per cent of our staff in India had committed to the Group Code of Conduct e-learning.

    We also took this opportunity to reinforce the role of line managers and senior leaders in creating the right environment for our people to deliver the highest standards of conduct. As part of the recommitment process, managers engaged their teams in discussions around the Code and used real-life case studies and dilemmas to empower their teams to do the right thing. Managers were also required to attest to the conduct of their teams at the end of the year as part of our annual performance and reward process.

    Responsible selling and marketing

    We aim to treat our clients fairly at all times, providing them with solutions that meet their needs. We have policies and procedures in place to make sure we sell the right products and that complaints are identified and resolved.

    Treating Customers Fairly (TCF) is fundamental to living Standard Chartered’s core values and brand promise — Here for good. Delivering fair outcomes for clients is an important part of the Group’s commitment to reinforce the highest global standards of compliance and conduct. A focus on building long-term relationships helps to grow our business by enhancing our reputation. This includes having well designed products, clearly disclosed product information, suitable advice based on the client’s circumstances, ensuring that products perform as expected and dealing with complaints when they arise. In 2014, we moved to a new methodology, progressively changing our sampling periods and method to create greater transparency, and benchmarking our Net Promoter Score (NPS) against the overall market. In 2015, the enhanced conduct and client experience reflected in 43 per cent reduction in complaints year-on- year and our NPS was +24, marking a substantial improvement over 2014 score of +6. We ranked fifth in the industry in Banking Codes and Standards Board of India (BCSBI) audits for delivering superior client experience.

    TCF principles are firmly entrenched in our Group Code of Conduct.


    We seek to minimise the impact of our operations on the environment. As part of our environmental priorities, we are committed to measuring our operational impact. We report on energy, water, paper and waste data that are the basis of our Greenhouse Gas (GHG) emissions management as well as the targets we have set to reduce energy, water and paper use. Globally, we have reduced the energy use intensity by 22 per cent in tropical and 17 per cent in temperate locations.

    Environmental assurance is conducted annually only for Scope 1 & 2 emissions (energy used across our buildings).


    In 2015, we implemented shower type aerators in all wash basin taps and flow reducers in other faucets which resulted in the reduction of our water use intensity by 9 per cent in India. While we have saved approximately 67ML of water from 2009 to 2014, we have saved 28.3ML of water in 2015 alone with these measures, which is enough to fill 11 Olympic-size pools.

    There has been a decrease of 13.73 per cent in water usage index (WUI) in 2015 as compared to 2013.


    In India, we reduced our energy usage by 3.3 per cent thereby saving 4.2 million kilowatt-hour (kWh) of electricity in 2015. We continue to use renewable energy from sources like wind and solar at our SCOPE office at Haddows Road where 56 per cent of our annual energy demand is met by these renewable energy sources, thereby generating cost saves through reduced dependence on diesel generators and reducing our carbon footprint.

    We estimate that lighting consumes around 20 per cent of a building’s energy, globally. To lessen our dependency on electricity and other imported power sources, we are replacing our existing lighting with energy efficient lighting such as LED lighting with motion sensor controls. LED lights use around 80 per cent less energy than conventional lighting. In 2015, eight markets, including India, upgraded their lighting systems to LEDs, which saved us over $250,000 in operating costs.

    In 2016, in India, we intend to expand our renewable energy footprint by entering into power purchase agreements and power exchange. We continue to discover opportunities to leverage other renewable energy sources with focus on guaranteed reduction in energy consumption.

    There has been a decrease of 14.09 per cent in energy usage index (EUI) in 2015 as compared to 2013.


    We are committed to meeting our 2020 paper target to reduce paper consumption to 10 kilos per full-time staff.

    In India, in 2015, we implemented a project to discontinue the cheque auto reorder facility for Personal and Preferred segments and increasing the auto reorder cheque range for all other segments with a view to improving customer experience and encouraging use of secure online channels to make payment. We recorded savings of $104,000. The real e-statement penetration increased to 71 per cent as of December 2015 with 1.45 million e-statements sent to customers, per month. These initiatives have helped us reduce our carbon footprint by saving 53.4 million sheets of A4 paper and hence 6,402 trees.

    In 2015, globally we initiated print standardisation initiatives aimed at removing standalone print devices and efficient use of printers in a secure manner. In India, we reduced office paper use to 23.48kg per FTE in 2015.

    In India, we use 75 grams per square meter (GSM), Forest Stewardship Council certified paper in our printersfor office printing.


    We work with authorised e-waste vendors to retire IT equipment. In India, in 2015, through our asset disposal initiative, we distributed 11,251 kg of e-waste.

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