Reported by: banking|Updated: April 1, 2021
Standard Chartered is launching 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 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. The bank said these products will help global supply chain activities – estimated at $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. The bank’s new sustainable trade finance proposition will help companies build more resilient supply chains, as we work to make global trade more sustainable and inclusive, he added.