Tag: Standard Chartered

Standard Chartered issues first Social Bond

Stuart Mitchell

Standard Chartered, a leading international cross-border bank connecting the world’s most dynamic markets, has today issued its first-ever Social Bond, which will support the sustainable development of low-income countries across the bank’s emerging market footprint. The EUR1 billion 8-year Non-Call 7 year offering will primarily facilitate lending to small and medium sized enterprises (SMEs), ensuring access to finance, helping create jobs and empowering and nurturing women-owned SMEs. Proceeds will also finance access to essential services including healthcare and education, and will facilitate investment into affordable basic infrastructure and food security,…

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New deal demonstrates opportunity to scale finance for carbon removals

Stuart Mitchell

Standard Chartered, British Airways, CUR8, CFC and WTW recently announced the completion of a global first transaction to unlock finance for UNDO, a UK-founded carbon removal project developer specialising in enhanced rock weathering. The breakthrough transaction, which specifically provides debt financing for UNDO, now paves the way to scale finance for Carbon Dioxide Removal (CDR) projects elsewhere. The precise and novel structure of the transaction helps to overcome significant barriers when providing finance to carbon removal project developers like UNDO. It separates the cost of a project from the sale…

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First-Of-A-Kind Pilot For Financing Carbon Removals Launches In Partnership Between CUR8, UNDO, British Airways And Standard Chartered

Stuart Mitchell

CUR8, a UK-based company dedicated to building the global market for carbon removals, in partnership with UNDO, a UK-founded, world-leading carbon dioxide removal project developer specialising in enhanced rock weathering, British Airways and Standard Chartered have launched a first-of-a-kind financing pilot to help scale up the carbon removals market. Financial solutions of this kind are a crucial step in enabling the carbon removals market to reach the multi-billion-tonne scale required, according to the IPCC, to limit global warming below 1.5 degrees. Carbon removal is the process of removing carbon dioxide…

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Six Global Financial Institutions Chart a Flight Path to Decarbonizing Aviation

Stuart Mitchell

Six top lenders to the aviation sector — Bank of America, BNP Paribas, Citi, Crédit Agricole CIB, Societe Generale and Standard Chartered — have announced that they will partner with RMI’s Center for Climate-Aligned Finance to help decarbonize the aviation sector through the formation of the Aviation Climate-Aligned Finance Working Group. The Working Group aspires to create a collective climate-aligned finance (CAF) framework that defines common goals for action for aviation sector decarbonization. The CAF framework is a commitment by participating financial institutions to annually assess and disclose, consistent with…

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Standard Chartered announces interim targets and methodology for pathway to net zero by 2050

Stuart Mitchell

Standard Chartered has announced ambitious new targets to reach net-zero carbon emissions from its financed activity by 2050, including interim 2030 targets for the most carbon-intensive sectors. The Group’s approach is based on the best data currently available and aligns to the International Energy Agency’s Net Zero Emissions by 2050 scenario (NZE). Whilst 33 of our 59 footprint markets do not at present have a commitment to reach net zero by 2050, we are setting out our plan for this timeline, recognising the pivotal role we can play in the…

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