Standard Chartered Bank executes its first Sustainability Linked Repo transaction with Türkiye’s Denizbank
on February 14, 202214 February 2022 – Standard Chartered Bank has successful executed a Sustainability Linked repurchase agreement transaction (Repo) with Denizbank. The transaction is the first such Repo for Denizbank and amongst the first few globally where the Repo terms are linked to progress against ESG goals.
Recognised for its ambitious goals to reach net-zero carbon emissions through sustainable finance and sustainability-linked solutions, Standard Chartered continues to create new and innovative offerings to support clients in achieving their sustainability goals. The Repo terms will be linked to Denizbank’s progress against its targets to increase agricultural lending and improvement of accessibility of banking services to people with disabilities.
Lina Osman, Head, Sustainable Finance, West at Standard Chartered said: “Standard Chartered has played a key role in driving sustainability-led initiatives in the region as part of our ambitious pathway to net zero by 2050. This Sustainability Linked Repo is an example of our ability to innovate and use our ESG structuring capabilities to support our clients as they deliver on their sustainability goals. We are proud to be partnering with Denizbank on this transaction.”
Standard Chartered places sustainability at the core of its business and has recently announced ambitious new targets to reach net-zero carbon emissions from its financed activity by 2050, including interim 2030 targets for the most carbon-intensive sectors. The Group’s approach is based on the best data currently available and aligns to the International Energy Agency’s Net Zero Emissions by 2050 scenario.
— ENDS —
For further information please contact:
Kate Matthews
Communications Manager, Europe
Standard Chartered
Tel: 020 7885 7899
kate.matthews@sc.com
Note to Editors
Standard Chartered has been present in Türkiye since 2003, and became a subsidiary in 2012. Standard Chartered Türkiye represents a crucial location to connect the Bank’s clients across the global franchise; not only for those who would like to invest in or trade with Turkish corporates, but also for Turkish corporates and financial institutions looking to invest in or trade with Asia, Africa and the Middle East.
Standard Chartered
We are a leading international banking group, with a presence in 59 of the world’s most dynamic markets, and serving clients in a further 85. 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.
For more stories and expert opinions please visit Insights at sc.com. Follow Standard Chartered on Twitter, LinkedIn and Facebook.