ING's Green Bond Programme. BofA Securities, BNP PARIBAS, HSBC and UBS acted as Joint Sustainability Structuring Advisors while ANZ, Bank of China, Citigroup, J.P. Morgan and Standard Chartered Bank acted as Joint Associate Sustainability Structuring Advisors in connection with the establishment of AAHKs SFF. % This new product, with the characteristics of a Demand Deposit Account, provides large . We provide financial products and services to people and businesses to help drive sustainable development, economic growth and job creation. Sustainability forms an integral part of INGs strategy, evidenced by INGs leading position in sector benchmarks by Sustainalytics and MSCI. Produced by Bloomberg Media Studios in partnership with Standard Chartered. Leveraging on an international network of representative offices and branches, UniCredit serves clients in another 16 countries worldwide. Societe Generale is one of the leading European financial services groups. Last year, we ceased providing financial services to four clients who did not transition away from purely thermal coal revenue. All rights reserved. Under a business-as-usual scenario, steel sector emissions could grow to 20% of the worlds 1.5C carbon budget by 2050. We aim to meet out interim targets for Oil & Gas (-30% emissions intensity), Metals & Mining (-33% emissions intensity), Thermal Coal Mining (-85 % absolute emissions) and Power sectors (-63% emissions intensity). In the structuring process of the Framework, Eni has been supported by Crdit Agricole CIB, Goldman Sachs International and UniCredit. Active in the real economy for over 150 years, with a solid position in Europe and connected to the rest of the world, Societe Generale has over 133,000 members of staff in 61 countries and supports on a daily basis 30 million individual clients, businesses and institutional investors around the world by offering a wide range of advisory services and tailored financial solutions. Commercial viability is another challenge. The development of common standards and definitions will stimulate market growth by promoting transparency and building confidence in sustainable finance. For more stories and expert opinions please visitInsightsatsc.com. T: +44 20 7676 68 04, E: Ila.Kotecha@socgen.com, Sophia Anthony Global Public Affairs, Citi. 8 0 obj We are committed to realizing them. Through an inaugural deal with Unilever, BNP Paribas launches its new sustainable deposit offer supporting the UN Sustainable Development Goals. All Rights Reserved. Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise, Here for good. It is the first publication in the five-year long Sustainable Finance Standardization Programme, which has been designed and is being delivered in collaboration with UK Government (through the BEIS Energy Innovation Programme) and UK industry in support of the UK Green Finance Strategy. Weve got the global network, deep expertise and innovative vision to meet all your banking needs and more. The net zero transition is most challenging in emerging markets across Africa, Asia and the Middle East. 445 of 28 December 2000. They can also result in better outcomes for society and the planet. %PDF-1.7 endstream Standard Chartered Bank established a three-level process, which includes pre-selection by the Sustainable Finance Working Group, an evaluation by the Sustainable Finance and Environmental and Social Risk Management department, and final approval by its internal Sustainability Bond Committee, which is comprised of one representative from each of It will also help us to define our expectations for change and define an ambitious yet realistic trajectory to meet those ambitions., Arnout van Heukelem, global head metals, mining & fertilizers, ING Bank. Weve also built the Loan Market Associations Green and Sustainability-Linked Loan Principles into our trade financing framework. We quantified part of that in Opportunity 2030: The Standard Chartered SDG Investment Map. One of the things that is very important to us right now is helping our clients in their journey to net zero. <> Let us bridge the gap between you, our client, and other players in the sustainable trade ecosystem in the pursuit of a more sustainable supply chain. Standard Chartered is committed to expanding the scale and reach of sustainable finance, with plans to mobilise USD300 billion in green and transition finance by the end of this decade. Our Americas franchise focuses on financial institutions and select corporates and plays a key role in facilitating trade and investment flows between the Americas and Asia, Africa, and the Middle East. Find out more Case studies For more stories and expert opinions please visit Insights at sc.com. Interoperability could support standardisation by defining key common metrics and allowing for regional and temporal variation within threshold levels. endobj Several top lenders to the steel sectorCiti, Goldman Sachs, ING, Societe Generale, Standard Chartered, and UniCredithave come together to define common standards of action for steel sector decarbonization through a collective climate-aligned finance agreement. ESG factors provide more data, tools and insights that help us better understand the opportunities and risks in todays economic and business landscape. For example, we have established internal guidance for our teams working on sustainability-linked finance transactions in high-emitting sectors to encourage financing structures that incentivize meaningful reductions in greenhouse gas emissions. <>/ExtGState<>/XObject<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/MediaBox[ 0 0 595.32 841.92] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>> Every company is at a different point in their transition journey, but we should all be heading for the same outcome. About Standard Chartered About Our long-term ambition Our suppliers Third Party Risk Management for Non-Vendors Here for good Sustainable investments Sustainable finance Supply chain Global trade More stories Diversity and inclusion Embracing diversity Gender equality Supplier D&I Our people Fighting financial crime We can provide the support and advice that clients need to accelerate their net zero journey. T: +442078852434, E: Julie.Gibson@sc.com. As parents, consumers and members of society, we all have something at stake. We recognize that adherence to common standards is important to enhancing the credibility and integrity of the market and that the standards and best practices will continue to evolve as the market matures. By combining international-bank stability with local-market knowledge, we can support your transaction banking needs across the world. A second party opinion has been obtained for the SFF from Sustainalytics with respect to the SFFs alignment with the Green Bonds Principles, Green Loan Principles, Social Bond Principles, Social Loan Principles and Sustainability Bond Guidelines. The EU green deal and the NZSI are extremely important elements in this effort.. With 2020 coming to an end, what will be on the sustainability agenda for the next 12 months? We supported clients with C$83.8 billion in sustainable finance in 2021, up from C$73.3 billion in 2020 and C$40.8 billion in 2019. All four KPIs were qualified as relevant and material by V.E. When I joined Standard Chartered in 2016, one of the things that struck me was the line Here for Good. The more time that I spent with the bank and interacting with people across our markets, the clearer it became that that rallying cry is the reason why people work for us. The purpose of ING Bank is empowering people to stay a step ahead in life and in business. RMI Leading lenders to the global steel industryCiti, Goldman Sachs, ING, Societe Generale, Standard Chartered, and UniCreditare working together to develop a climate-aligned finance agreement to support steel sector decarbonization. xKk@}9OC6JNpLiPI`$7S88_ys5JNqVyv6+#S0}`V`G`${Wz-,Kwyuo0gOy %,>,D4-!\2!>Ja!B 3tdJ,TwohA *8vWbEEx*@}NSPBkdX`!?G?r49]j{Y`Wva?tsB zQ|a! The sectors carbon intensity raises expectations of and from financial institutions to support its decarbonization, but to date, financial institutions lack the common practical tools to effectively support their clients decarbonization efforts. ING is a global financial institution with a strong European base, offering banking services through its operating company ING Bank. 14 0 obj Thus, we are all committed to making the net zero transition successful. Work on the development and implementation of client strategies for Sustainable Finance products Work closely with the Regional Head of Sustainable Finance to develop and execute a plan that would make SC the Bank best known for Sustainable Finance by our clients and other stakeholders. We see sustainable finance as a significant growth opportunity for our clients and our business. The fundamentals, recommendations and guidance. NEW YORK, May 11, 2022--(BUSINESS WIRE)--Standard Chartered ("Bank") today announced the launch of its Sustainable Account. Were here to help. Eni is a founding member of the UN Global Compact CFO Taskforce for the SDGs which, in September last year, published the "CFO Principles on Integrated SDG Investments and Finance" aimed at guiding companies in aligning their sustainability commitments with their financial strategy, with the goal of creating a broad, liquid and efficient market for UN SDG-relevant investments and capital flows. <> For clients in our highest-emitting sectors, we have made it a condition of our financing that they must have a credible transition plan by the end of 2022. To support the strong growth of our Sustainable Finance portfolio, and to meet the green funding needs, we designed a Green Bond Framework that meets the highest standards on transparency and disclosure and aligns with the ICMA Green Bond Principles (GBP). Deposits in Sustainable Accounts are used to fund sustainable projects based on the Banks Green and Sustainable Product Framework, which is aligned with the United Nations Sustainable Development Goals (SDGs). LinkedIn NO PUBLIC OFFERING OF SUCH SECURITIES IS INTENDED TO BE MADE IN THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR IN THE OTHER COUNTRIES.. It's why we're bringing you sustainability-linked financing solutions. Sustainability is important to you and to us. $.' More than three-quarters of companies around the world struggle to justify sacrificing reliable revenue from a proven business model today for uncertain revenue tomorrow, according to Zeronomics. We hope that these types of collective action will bring about real change. If youre looking for a career with purpose and want to work for a bank making a difference, wed love to hear from you. Climate change is a global challenge. After the Poseidon Principles for maritime shipping, Societe Generale is proud to co-lead to the creation of a climate-aligned finance agreement for another hard-to-abate industry., Stphanie Clment de Givry, global head mining, metals & industries, Societe Generale, Alex Chin, Associate Media Relations. In 2020, we committed USD75 billion in financing through 2024 to support our clients as they transition to a low-carbon economy. About Societe Generale The world must reach net-zero . 13 0 obj Browser search The eligibility criteria for each of these is detailed in the Framework and includes alignment with established industry guidelines. Our Sustainable Finance Framework provides transparency to the methodology we use to measure and report on progress towards our sustainable finance commitment. Eni will include in its future financial agreements, where possible, a mechanism that will link the financing cost to the achievement of one or more of the identified targets. It is important for RBC to support our clients in these industries on their journey towards a net-zero economy. To propel its push into emerging markets focused on sustainable financing, Standard Chartered, an international bank listed on the London and Hong Kong Stock Exchanges as well as India's Bombay and National Stock Exchanges, has created a new sustainable finance banking team. Tailored financing solutions designed to help you build resilient supply chains while mitigating their negative environmental and social impact. Our best-in-class, dedicated Environmental and Social Risk Management (ESRM) teams are here to help you become more sustainability-driven. But we also need to establish transition finance to accelerate companies efforts to align their operations and business models with the Paris Agreement goal of limiting global warming to 1.5C. Learn more about our purpose-driven approach to ESG and progress toward our sustainable finance commitment in our ESG Performance and Reports Learn more about E S G performance and reports, opens in a new tab, Learn more about our Sustainable Finance Group services and capabilities Learn more about our sustainable finance group services and capabilities, opens in a new tab, View Legal DisclaimersHide Legal Disclaimers, Legal | Accessibility | Privacy & Security, Open sustainable finance framework P D F 759kb in a new tab, Open sustainable finance expert panels report P D F XXXkb in a new tab, Learn more about E S G performance and reports, opens in a new tab, Learn more about our sustainable finance group services and capabilities, opens in a new tab, Read RBCs Sustainable Finance Framework PDF, Canadas Expert Panel on Sustainable Finance, Sustainable Finance Group services and capabilities, https://thoughtleadership.rbc.com/the-2-trillion-transition/, https://www.icmagroup.org/sustainable-finance/the-principles-guidelines-and-handbooks/sustainability-linked-bond-principles-slbp/, https://www.lma.eu.com/application/files/7716/4623/8945/SLLP.pdf. 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standard chartered sustainable finance framework