Standard Chartered executes market-first Sustainable Fiduciary Deposit with a European private bank
on September 6, 20235 September 2023, London, UK – Standard Chartered has executed its first ever Sustainable Fiduciary Deposit, also an industry first, to offer Sustainable deposits to clients of their private bank clients.
The European private bank client deposited USD100 million with Standard Chartered. The product allows High Net Worth Individuals to support environmental and social impact through the Group’s Sustainable Finance asset book, as documented in our Sustainable Finance Impact Report.
The market-first deposit builds on the 2019 milestone achieved by Standard Chartered as the first bank to offer Sustainable Deposits to clientsi. Standard Chartered’s Sustainable Deposit products allow the client to deposit funds with the knowledge that all of the assets the deposits are referenced against align with the United Nations’ Sustainable Development Goals (SDGs), and address global challenges such as climate change, poverty and inequality.
Commenting on the deposit, Andy Ross, Head of Financial Markets, UK at Standard Chartered said: “With our footprint focused on emerging markets in Asia, Africa and the Middle East, we strive to offer products that align with the SDGs and create investment flows into our unique network, ensuring we can support our clients, our clients’ clients, and local communities. We are proud to be the first in the industry to offer this product, as we expand our portfolio offering sustainable investment opportunities to new and existing clients.”
The Group’s Sustainable Fiduciary Deposit is offered globally, through Standard Chartered in London.
ihttps://www.sc.com/en/media/press-release/weve-launched-the-worlds-first-sustainable-deposit/
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For further information please contact:
Kate Matthews
Communications Director, Europe
Standard Chartered Bank
Tel: +44 (0)207 885 7899
Email: Kate.Matthews@sc.com
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