Standard Chartered commits $75bn towards Sustainable Development Goals
CAPE TOWN – Global financial services company Standard Chartered Bank on Thursday said it had committed USD75 billion to support clients as they transitioned to a low carbon economy.
The bank said it also intended to reduce its carbon emissions across its global properties by 2030.
“Over the past 18 months, we have made a series of commitments which are all geared towards supporting the Paris Agreement on climate change and the transition to a cleaner, greener, fairer economy,” said the bank’s head for corporate affairs, brand and marketing, Tracey McDermott.
She said the investment required to meet the goals could not be provided by governments and NGOs alone, making it critical that investors embraced the sustainable development goals (SDG) “at pace and scale”.
“Our unique footprint means we are well placed to help get finance to where it matters most. That is why, as well as ceasing support for clients who generate more than 10% of earnings from thermal coal by 2030, we also have a renewed target for financing and facilitating USD35 billion of clean technology and renewables, and USD40 billion of sustainable infrastructure.”
Source: iol.co.za
