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Our Social Purpose

Our Social Purpose

Our vision is to be the world’s most sustainable and responsible bank. We are committed to sustainable, social and economic development through our business, operations and communities

Our purpose is to drive commerce and prosperity through our unique diversity, embedding sustainability and responsibility across our business, operations and communities. By focusing on three pillars – Sustainable Finance, Responsible Company and Inclusive Communities – we believe we can deliver sustainable prosperity in line with our valued behaviours and our promise to be Here for good.

This approach is framed around a Sustainability Philosophy that informs our decision-making, Position Statements that set out our environmental and social client standards, a Supplier Charter that shares the principles of the behaviours we expect from our suppliers and a list of Prohibited Activities that sets out the activities that the Bank will not finance. Our approach is underpinned by our Sustainability Aspirations, which provide tangible targets for sustainable business outcomes aligned to the United Nations Sustainable Development Goals (SDGs). During 2020, we refreshed our Aspirations to reflect that some had concluded, and introduced new goals to support our evolving strategy, such as developing a suite of Retail Banking sustainable finance products. To ensure accurate and trustworthy data, we have engaged Deloitte to provide assurance over performance data related to selected Sustainability Aspirations. The findings of this assurance exercise will contribute towards our continued work to strengthen how we track and report progress on our Aspirations, including as part of our commitment to the UN Principles for Responsible Banking. We participate in a number of industry platforms and working groups, supporting Sustainable Finance Here for good Inclusive Communities Responsible Company our progress and that of the industry as we demonstrate our contribution to achieving the UN SDGs. Climate change has widespread and proven impacts on the physical environment, human health and potential adverse impact on economic growth. This, coupled with the global impact of COVID-19 and the methods in place for recovery, has shown that now, more than ever, we need to act to reduce our impact on the environment and meet the goals of the Paris Agreement on Climate Change.

Covid-19 Relief Project

In keeping with its brand promise to be Here for good, particularly in times of adversity, Standard Chartered (the Group) launched a $50 million global fund providing assistance to those affected by the COVID-19 pandemic in 2020.

The Group donate $25 million to support emergency relief in our most affected markets. In order to combat Covid-19 in Nepal, the Bank contributed around USD 500,000 in 2020 through various implementing partners. In 2021, we also donated various medical equipment and additional USD 140,000for COVID emergency relief activities in the country.

Other Programs

Financial Literacy and Volunteering programs are equally supported by our staff all across. Volunteering offers employees an opportunity to use their skills to make a unique contribution to the local causes that they support. This helps us as an organisation to forge stronger relationships with the communities in which we operate, helping us to integrate more closely at a local level. The current situation of Covid-19 has helped new ways of volunteering where some of our staff also participated in virtual financial literacy programs. The Bank collaborated with our GOAL program partner Childreach Nepal to conduct virtual financial literacy sessions early 2021 for high school students titled “Money Savvy”.On 26th February 2021 Diversity and Inclusion team members of the bank conducted a Financial Literacy program for high school students of “Adarsha Higher Secondary School”, a government school located at Thimi. Blood donation program was supported by Standard Chartered Bank Nepal Limited’s Narayanghat Branch at the premises of Bhat Bhateni Super Market at Narayanaghat on 29 July 2021, where some of the staff of the branch also donated blood.

Futuremakers by Standard Chartered

Empowering the next generation to learn, earn and grow

We believe everyone deserves the opportunity to realise their potential. Yet globally, more than 200 million young people are out of work or live in low-income poverty, and that’s just not good enough. The economic impact of the global COVID-19 pandemic has made this worse.

Futuremakers by Standard Chartered is our global initiative to tackle inequality by promoting greater economic inclusion in our markets. Futuremakers supports disadvantaged young people, especially girls and people with visual impairments, to learn new skills and improve their chances of getting a job or starting their own business. Globally we set out to fundraise and donate USD50 million for Futuremakers between 2019 and 2023 to empower the next generation to learn, earn and grow.
In 2020, Futuremakers programmes reached more than 168,000 young people, and more than 366,000 young people between 2019 and 2020 across 35 markets.

The one year Futuremaker project that started in Nepal in 2019 partnered with NGO Maiti Nepal helped young and vulnerable women with entrepreneurship opportunity, making the young women financially independent through “ low cost sanitary pad producing project”.

We also launched Goal project partnering with NGO Childreach Nepal to help and support young children. Goal is our programme to equip adolescent girls with the confidence, knowledge and skills they need to be economic leaders in their families and communities. As part of Futuremakers, we are expanding Goal as our global education programme.

Since its launch in 2006, Goal has grown to become an internationally-recognised global movement operating in more than 20 countries. Through sport and activity-based learning, Goal delivers modules on financial education; communication skills; health and hygiene; and self-confidence.

In 2020, the programme reached more than 56,000 girls and young women, and more than 646,000 between 2006 and 2020. Our target is to reach one million girls between 2006 and 2023.

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