Standard Chartered launches sustainable trade loan
The loan will be available for select eligible activities, such as installation of wind turbines.
Standard Chartered has launched a sustainable trade loan for clients.
For the loan, the bank will reference its green and sustainable product framework– co-authored by Morningstar Sustainalytics, an ESG data, research and ratings firm– on eligible activities that the facility can be used to finance.
Examples of eligible activities include installation of wind turbines, purchase of solar panels, and sale of renewable energy battery storage systems.
“We know that many financial institutions and their clients want to play a greater role in driving sustainable outcomes by directing capital to where it matters most in their markets,” said Samuel Matthew, global head of flow and financial institutions trade at Standard Chartered. “The launch of our sustainable trade loan for financial institutions clients aims to support them by providing liquidity for flows that meet their sustainability aspirations.”
The offering builds on the bank’s sustainable trade finance proposition that was announced in March 2021, which was designed to help companies implement more sustainable practices across their ecosystems and build more resilient supply chains.