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Sustainability
Our net zero roadmap
We aim to be net zero in our financed emissions by 2050 and in our own operations by 2025.
We are working across our business and functions to deliver on our net zero commitments. We prioritise measurement and decarbonisation efforts in the highest-emitting and most carbon-intensive sectors of our portfolio, demonstrating our commitment to supporting the transition of the real-world economy, alongside working to reduce emissions from our own operations and supply chain.
Key milestones
Our net zero roadmap
2021
Launched our roadmap to net zero by 2050, including interim targets and a supporting methodology.
Announced plans to mobilise USD 300 billion in Sustainable Finance by 2030.
Published our inaugural Transition Finance Framework.
2022
Developed financed emissions baselines and interim 2030 targets for the Aviation, Shipping and Automotive Manufacturers sectors.
Joined the Partnership for Carbon Accounting Financials (PCAF).
2023
Announced our enhanced Oil and Gas absolute financed emissions target.
Updated our Power and Steel sector baselines and targets, moving from a revenue-based intensity metric to a production-based intensity metric.
2024
Set an agriculture baseline and target, the final high emitting sector recommended by the NZBA.
Resumed aviation sector reporting following the sale of our aircraft leasing business and a significant portion of the lending portfolio.
Set a baseline and target for our facilitated emissions portfolio focusing on the oil and gas sector.
Issued our first Transition Plan.
2025
Aim to be net zero in our Scope 1 and 2 emissions.
Set a methane reduction target.
2030
We will have substantially reduced our exposure to the Thermal Coal Mining sector in line with our Position Statements.
Aim to meet the Group’s financed emissions interim targets for high-emitting sectors.
2032
Targeted end date for legacy direct Thermal Coal Mining financing globally.
2050
Aim to become net zero in our financed emissions.
Key documents
Transition Plan
Discover our framework to operationalise our net zero ambition.
Net Zero Methodological White Paper
See how we plan to manage and measure our progress through our commitment to sector-specific, science-based methodologies for defined high-emitting sectors.
We engaged EY to check that our targets are science-based, meet the long term temperature goal of the Paris Agreement and are mathematically accurate in reference to the third party scientific scenarios. This makes us the first Global Systemically Important Bank (GSIB) to have such external confirmation.
Read EY’s public report to view its findings.
Our emissions profile
We focus on three areas to reduce emissions.
0.1%
Our operations: Scopes 1 and 2
1.5%
Our supply and value chain: Scope 3, Categories 1-14%*
98.4%
Our clients: Scope 3, Category 15
Our approach to managing our emissions
Explore how we’re delivering in each area and see our recent progress.
We aim to be net zero in our financed emissions by 2050
The vast majority of our emissions are linked to our investment and lending activities, known as financed emissions.
We have prioritised our measurement and decarbonisation efforts in the highest-emitting and most carbon-intensive sectors of our portfolio, and are continuing to work with our clients where we can have the greatest impact.
Recent progress
We have:
- Set and disclosed science-based interim 2030 financed emissions targets for our 12 highest-emitting sectors. This is communicated in our Annual Report 2024.
- Set a facilitated emissions target for oil and gas, which currently makes up the majority of emissions within our facilitation portfolio.
- Resumed reporting on the aviation sector following the sale of the Group’s aircraft leasing business and a significant portion of the lending business associated with this.
We have set long-term targets to reduce emissions in our supply chain
In line with the Group’s sustainability agenda, we are managing impacts in our supply chain.
- We plan to direct at least 50% of our total spend* with suppliers who have set science-based emissions reduction targets.
Recent progress
In 2024, we:
- Continued to engage with our suppliers to collect supplier specific data to improve the quality of our reporting. This resulted in an increase from approximately 24 to 32 per cent of supplier-specific data collected, either via questionnaires or CDP responses.
- Partnered with one of our global technology suppliers to reduce the GHG emissions from across our supply chain by creating a standard package for each monitor we purchase while excluding monitor stands. This enabled us to reduce the emissions of shipping unnecessary monitor stands, cabling and plastic packaging.
- Coinvested in sustainable aviation fuel to reduce emissions related to the shipment of our parcels.
We aim to be net zero in our own operations by 2025
We’re working hard to cut our emissions and minimise our environmental impact.
- In 2018, we set a target to be net zero in our operational emissions by 2025. We define this in accordance with the ISO IWA 42 definition of Net Zero.
- In 2022 we joined RE100, a global corporate initiative for businesses committed to achieving 100 per cent renewable electricity.
- We aim for 90 per cent of our waste to avoid landfill by 2030.
Recent progress
In 2024, we:
- Expanded the Scope 1 emissions that we capture to include emissions from our vehicle fleet.
- Reduced our Scope 2 emissions by 34 per cent in 2024.
- Actively sought to increase the proportion of our electricity usage that comes from a renewable source to 77 per cent this year.
- Increased our waste diversion performance by 18 per cent and achieved 61 per cent avoidance of landfill (up from 52 per cent in 2023).
- Achieved a water efficiency metric of 0.53 kilolitres per square metre despite a 39 per cent increase in the proportion of our employees returning to the office.
Our latest commitments
A new methane commitment
We’ve enhanced our net zero roadmap with a commitment to deliver a methane emissions reduction target by 2025.
Three principles that guide us
Grounded by three principles, we plan to manage and measure our progress against our net zero commitments.
Absolute emissions target
We’ve provided an update to our net zero roadmap, committing to an absolute emissions target and trajectory for the oil and gas sector.
Latest news and insights
Fuelling change in aviation
Listen to our podcast on how sustainable aviation fuel could help reduce airline emissions, amidst other strategies airlines are pursuing to achieve their net zero targets.
Building a sustainable supply chain
To facilitate delivery against our long-term commitments, we’ve partnered with Dell Technologies to support a more sustainable purchasing model for our technology needs.
Standard Chartered has an important role to play in supporting our clients, sectors and markets to deliver net zero, but to do so in a manner that supports livelihoods and promotes sustainable economic growth. We currently provide financial services to clients, sectors and markets that contribute to greenhouse gas emissions however we’re committed to net zero in our own operations by 2025 and in our financed emissions by 2050.
Learn more about our approach.
* See our Annual Report 2024 for full details on our emissions reporting and targets.