Tag: Standard Chartered

Standard Chartered and Brazilian State of Acre to bring high integrity carbon credits to market to support forest conservation

Stuart Mitchell

Standard Chartered, a global cross-border bank, today announces a landmark agreement to sell high-integrity forest protection carbon credits in co-ordination with the Government of the State of Acre over the next five years, with potentially 5 million credits coming to market in 2026. This is one of the first examples of a major international bank working with a sub-national government or state entity in this way to help support forest conservation. The credits will take the form of jurisdictional forest carbon credits. Unlike project-based forest carbon credits, jurisdictional credits cover…

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Standard Chartered publishes Transition Plan

Stuart Mitchell

Standard Chartered has published its Transition Plan, setting out in detail how the bank will continue to integrate climate considerations into decision-making across its business and operations, to deliver against its net zero agenda, while supporting sustainable growth. The Transition Plan articulates how Standard Chartered aims to reach net zero across the bank’s financing activity by 2050 (Scope 3), and across the bank’s own operations by 2025 (Scope 1 and Scope 2). Considering New-to-Bank (NTB) and Existing-to-Bank (ETB) clients, it outlines a transparent, actionable framework to deliver on these commitments…

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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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