STANDARD CHARTERED LEADS IN SUSTAINABLE FINANCE

Jerry Boateng - Standard Chartered Bank Tanzania Head of Commercial, Corporate and Institutional Banking, speaks at the forum opening. Standard Chartered Bank has hosted a sustainable finance forum – a first in the Tanzania banking industry.

Herman Kasekende, Chief Executive Officer (CEO), Standard Chartered Bank Tanzania.

16 February 2024, Dar es Salaam – Standard Chartered (“the Bank”) has hosted a sustainable finance forum – a first in the Tanzania banking industry. The forum brought together industry experts and thought leaders for in depth discussions on sustainable finance with a particular focus on climate finance and investments in adaptation strategies. 

Marisa Drew, Chief Sustainable Officer -  Standard Chartered Bank London.

Speaking at the forum Herman Kasekende, Chief Executive Officer, Standard Chartered said, “Our purpose is to drive commerce and prosperity through our unique diversity. We believe in the power finance can have in generating inclusive communities. Our dedicated Sustainable Finance team brings together our experience and expertise in managing environmental, social and governance risks with our ability to spot opportunities and structure solutions to maximise the positive impact potential of our financing. We have a distinctive approach to sustainability client engagement, with a cyclical model of climate risk assessment, Environment Social and Governance (ESG) advisory and the provision of appropriate Sustainable Finance and/or transition finance products.” 

Rished Bade, Commissioner for External Finance - Ministry of Finance.

At Standard Chartered Bank, sustainability is a core component of its strategy, and one of four Group strategic priorities. This reflects the Bank’s commitment to supporting sustainable social and economic development through its business, operations and community. The world must reach net zero carbon emissions by 2050 to limit worst effects of climate change. This will require efforts from across stakeholder groups to accelerate the transition to a low-carbon, nature positive and climateresilient economy. The Bank is catalysing sustainable finance and partnerships, aiming to provide USD300 billion in sustainable finance by 2030.

Masanja Kadogosa, Director General of Tanzania Railway Corporation (TRC).

The guest of honor was Hon. Mwigulu Nchemba who was represented by Rished Bade, Commissioner of External Finance at Ministry of Finance. Commissioner Rished said, “Climate change is a global challenge that is affecting socio-economic development of many countries including Tanzania. Climate change is causing higher temperatures, increased rainfall, frequent droughts, and floods that are impacting economic and social development. This impact is affecting growth of various sectors like agriculture, tourism, energy, health, water, marine and coastal, forestry and livestock.

The Government has set guidelines instrumental in integrating climate change adaptation issues in respective sectoral policies, plans and programmes. Fighting against climate change requires collaborative efforts from both private and public sectors. I want to PUBLIC commend Standard Chartered for leading the way in offering sustainable finance to support entities to run sustainable operations. I call upon other financial institutions to play their roles in fighting climate change.” 

Standard Chartered Bank aims to be a leader in sustainable finance across some of the world’s most dynamic markets. The bank has financial expertise, governance frameworks, innovative thinking, technology, and geographical reach to connect markets and activities to capital, where this is most needed. The bank is committed to accelerating the net zero transition by reducing our emissions, with targets for carbon-intensive sectors. The bank aims to reach net zero carbon emission in our own operations by 2025, and in our financing activity by 2050. 

The forum themed climate finance and investment in adaptation brought together industry experts, key stakeholders including Marisa Drew, Chief Sustainable Officer for Standard Chartered and Mr. Masanja Kadogosa, Director General of Tanzania Railway Corporation.

For further information please contact: 

Desideria Mwegelo

Head of Corporate Affairs, Brand & Marketing

Standard Chartered Bank

+255 753 335 333

Desideria.Mwegelo@sc.com 

About Standard Chartered Bank:

Standard Chartered We are a leading international banking group, with a presence in 52 of the world’s most dynamic markets and serving clients in a further 64. Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise, here for good.

Standard Chartered PLC is listed on the London and Hong Kong stock exchanges.

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