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StanChart adopts ICC principles for sustainable trade finance
The principles include a standardised approach to assess how proceeds were used.
Standard Chartered has adopted the International Chamber of Commerce’s (ICC) Principles for Sustainable Trade Finance.
This makes it the first international bank to adopt the principles, StanChart said in a press release.
In October 2024, the ICC published a set of principles, which serve as guidelines for banks, corporates, and investors to channel capital towers sustainable and inclusive trade finance facilities.
The principles include standardised approach to assessing use-of-proceeds in trade finance transitions, enhanced due diligence protocols for sustainability verification, and unified reporting standards to ensure consistency across financial institutions.