Standard Chartered Bank has concluded plans to unveil new sustainability report that will show the type of business it will continue to do that will improve its performance and drive economic growth for the country.
The sustainability philosophy, according to a statement from the bank sets out how Standard Chartered integrates sustainability into its organisational decision-making and how it will work with its clients, suppliers, Non Governmental Organizations, NGOs and governments in its markets. It also contain how the Bank addresses its supporting businesses and economic growth, and protecting the environment its operates.
Over the coming weeks and months, the Bank will be publishing new criteria and standards which will outline clearly the type of business it will and will not do, starting with Coal.
Additionally, for the first time the Bank has made public the Prohibited Activities List, which details those activities it will not support.
Commenting on the new framework, Tracey McDermott, Group Head of Corporate Affairs, Brand & Marketing, said: "We believe we have a key role to play in promoting sustainable economic growth in the communities and markets we serve. We aim to be a force for good - taking a long term view and working with our clients to improve their sustainability performance and so help to drive up standards across our markets."