Standard Chartered launches guidelines on doing business in sensitive industries and sectors

Standard Chartered Bank leads the way in promoting sustainable finance through the implementation of thirteen sector and issue position statements. They set out the standards and practices to be followed when we conduct our financing activities. The statements are available on our website.

These position statements cover sectors that have potentially high impacts on the environment and communities, and issues that require critical action.

The series of ‘position statements’ covers the following sectors:

  • Forestry and Palm Oil,
  • Mining and Metals
  • Oil and Gas
  • Bio-fuels
  • Dams
  • Gaming and Gambling
  • Transportation of Hazardous Materials
  • Fossil Fuel Power Generation
  • Ship breaking
  • Tobacco
  • Nuclear Power Generation
  • Child Labour
  • Climate change.

The statements provide the Bank with a distinct advantage. We will use our capability to forge stronger relationships with our clients, managing complex transactions and mitigating environmental and social risks to provide our clients with a competitive advantage. We believe that the statements are the most far-reaching in the industry and by applying them to our SME and Wholesale Banking business, we can exert a positive influence on the environment and communities across our footprint.

The position statements build on the bank’s Environmental and Social Risk Policy, which integrates an assessment of key sustainability risks in our lending and investment. They also complement and strengthen the bank’s commitments as a signatory to the Equator Principles and The Climate Principles

They were developed over two years, in close consultation with key stakeholder groups, including non-governmental organisations and socially responsible investors, along with input from expert consultants. A thorough analysis of international and industry standards, legal requirements and peer group benchmarking was undertaken.

Patrick Laine, Director of Corporate Partnerships at WWF-UK, is endorsing the Bank’s initiative, said: "Standard Chartered has an excellent opportunity to facilitate environmentally sound development in the emerging economies while future-proofing the Bank's investments. These published position statements are a significant step in the right direction."

The position statements underpin our commitment to building a sustainable business and supporting real changes in our markets through engaging our clients to adopt responsible practices. Our deep presence across Asia, Africa and the Middle East means we have an important role to play in bringing international standards to emerging markets.

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