Commercial, Energy Efficiency, GHG Emissions - March 5, 2025
Standard Chartered Sets 2025 Goals
Standard Chartered provided information on how the bank seeks to achieve net zero across its financing activity by 2050 and across its own operations by 2025.
The bank seeks to mobilize $1 billion of sustainable finance income by 2025 and $300 billion of sustainable finance by 2030, and its plan primarily focuses on material emissions, also known as financed emissions. These are the emissions of high-emitting clients, where the pace and scale of the transformation needed presents a significant opportunity to drive innovation and growth.
Standard Chartered’s plan outlines a transparent, actionable framework to deliver on these commitments through corporate and institutional client engagement alongside innovative sustainable and transition finance solutions deployed across its global footprint.
“As a global bank serving the cross-border needs of our clients, we’re clear that the transition to a low carbon economy presents a significant opportunity to accelerate sustainable and enduring growth across our markets,” said Bill Winters, Group Chief Executive at Standard Chartered, in a statement. “Whether we’re supporting clients with their transition strategies and business models of the future, developing solutions to finance new innovative technologies, or financing low-carbon infrastructure projects in India, Indonesia, South Africa, and beyond — it is important business for Standard Chartered. It makes commercial sense, and the numbers speak for themselves.”
The bank’s full-year 2024 results also announced that Standard Chartered set an absolute facilitated emissions target for oil and gas. This target sets a carbon budget that requires a 29% reduction in absolute financed emissions for the sector by 2030 when calculated from a 2020 baseline.
The bank completed 12 out of 12 of the NZBA high-emitting sectors covered by 2030 science-based financed emissions targets.
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