Green and Sustainable Product Framework 5.0

Detalles

Version 5.0 of Standard Chartered Bank's "Green and Sustainable Product Framework 2023" outlines the bank's approach, products and processes framed in:
- a sustainability philosophy that establishes the integration of sustainability into your organisation's decision-making,
- a set of Position Statements outlining your environmental and social standards,
- A list of prohibited activities that they will not fund.
The publication includes eligible topics and activities that can be considered as "green" and "social", allowing for the development of sustainable finance products and the identification of eligible transactions. In addition, it guides the development of ecological and sustainable products that refer to a specific use of ecological/sustainable income; and seeks to mitigate the risk of greenwashing.

How does Standard Chartered mitigate the risk of greenwashing? Through:
- Experience, i.e., transaction-by-transaction approval, and training in sustainable finance for all staff.
- Governance through various committees that support the Board and management team in overseeing risks and opportunities related to environmental aspects and the product program guidelines that underpin each sustainable finance product offered.
- The challenge and review carried out by the Sustainable Finance Governance Committee.
- External verification in collaboration with Morningstar Sustainalytics.