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Standard Chartered launches new proposition to support sustainable supply chains

Update: April, 17/2021 - 14:52

 

The bank’s new Sustainable Trade Finance Proposition is designed to help companies implement more sustainable practices across their ecosystems and build more resilient supply chains. — Photo baodautu.vn

HÀ NỘI — Standard Chartered on Thursday issued sustainable trade finance solutions across Asia, Africa and the Middle East, Europe and the Americas. The bank’s new Sustainable Trade Finance Proposition is designed to help companies implement more sustainable practices across their ecosystems and build more resilient supply chains.

The Sustainable Trade Finance Proposition builds the Loan Market Association’s Green and Sustainability-linked Loan Principles into Standard Chartered’s trade financing framework, encouraging clients to improve disclosure, reporting and definition of use, while meeting their Environmental, Social and Governance goals. The initial focus will be on Supply Chain Finance, Invoice Financing, Receivables Services, Bonds and Guarantees and Letters of Credit, and the product set will be expanded in due course. These products will help global supply chain activities – estimated at US$19 trillion by the World Trade Organisation – become more sustainable.

Simon Cooper, CEO, Corporate, Commercial & Institutional Banking and CEO of Europe & the Americas, said: “Trade finance has an enormous opportunity to help make global supply chain activities more sustainable by offering companies the products and solutions they need to achieve their sustainability agendas. Our new Sustainable Trade Finance Proposition will help companies build more resilient supply chains, as we work to make global trade more sustainable and inclusive.”

Michele Wee, CEO for Vietnam, Standard Chartered Bank, said: “To accelerate sustainable finance, we need to re-think how we can deliver financing to where it is needed most. Trade finance can help us reach across complex supply chains to drive long-term resilience and growth. For a market like Việt Nam, which is playing an increasingly important role in the global supply chain and one of ASEAN’s most open economies, I am excited about the opportunities ahead.” — VNS

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