Standard Chartered unveils new sustainability framework

The Standard Chartered Bank has unveiled a new Sustainability Philosophy, which sets out how it integrates sustainability into its organisational decision-making and how it will work with its clients, suppliers, NGOs and governments in its markets.

It also sets out how the bank addresses the pursuit of balance between supporting business and economic growth, and protecting the environment.According to the bank, in the coming weeks and months, the bank will be publishing new criteria and standards, which will outline clearly the type of business it will do and others it will not do, starting with coal.Additionally, for the first time, the bank has made public the Prohibited Activities List, which details those activities it will not support.

The Group Head Corporate Affairs, Brand and Marketing, Tracey McDermott, said: “We believe we have a key role to play in promoting sustainable economic growth in the communities and markets we serve.“We aim to be a force for good, taking a long term view and working with our clients to improve their sustainability performance and so help to drive up standards across our markets.”