Commercial, Energy Efficiency, GHG Emissions - May 14, 2024
Standard Chartered Commits to Reducing Emissions
Standard Chartered, an international banking group, set a commitment to reduce its methane (CH4) emissions.
The Group has committed to set a baseline and identify a science-based target for sector-specific methane emissions by 2025, as well as to become net zero by 2050.
This new target is applicable to the oil and gas sector. Standard Chartered will work alongside its clients in transition to address a broader base of GHG emissions and seek outcomes that align with the Paris Agreement.
“Addressing methane emissions is critical if we are to reduce the collective impact of greenhouse gases on our environment,” said Marisa Drew, Chief Sustainability Officer, in a statement. “As technology for monitoring and identification improves, and with demonstrable commitment from clients, we believe it is important to support and encourage the movement to new industry best practice with further accountability and transparency by setting targets that build on our existing decarbonisation efforts.”
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