Examples of project categories eligible for social bonds include: food security and sustainable food systems, socioeconomic advancement, affordable housing, access to essential services, and affordable basic infrastructure. Assisting Issuers in the issuance of sustainable bonds (green, social, sustainability, sustainability-linked and transition) by providing advisory on structuring of sustainable finance. PIMCO as a general matter provides services to qualified institutions, financial intermediaries and institutional investors. If youre looking for a career with purpose and want to work for a bank making a difference, wed love to hear from you. Relevant information on our Shariah Supervisory Committee is currently available on the Standard Chartered Bank website in the Islamic banking section For residents of the UAE Standard Chartered Bank UAE does not provide financial analysis or consultation services in or into the UAE within the meaning of UAE Securities and Commodities Authority Decision No. We are Overweight bonds, including both government and high-quality corporate debt, over equities, as the developed world is expected to head into recession in 2023. Evaluate current risk & controls and identifying new risk & controls for various activities based on process reviews, exception reports, audit score, key audit findings. Weve got the global network, deep expertise and innovative vision to meet all your banking needs and more. 571) (SFO) (CE No. He succeeds Dr. Emmanuel Oteng Kumah who retired from the Board in October 2022. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured. We believe the unusual rise in stock-bond correlations in 2022 is unlikely to last into 2023. This document must not be forwarded or otherwise made available to any other person without the express written consent of the Standard Chartered Group (as defined below). Outlook and strategies are subject to change without notice. But if it becomes clear that a client is unable or unwilling to meet our requirements, we will end the relationship subject to contractual obligations. Standard Chartered Bank, alongside three other banks, acted as Joint Lead Manager (B&D bank) in addition to being the Sole Sustainability Structuring Agent for Ecobank Transnational Incorporated . These bonds have use of proceeds specifically aimed at mitigating COVID-19-related social issues and are particularly focused on the populations most impacted. Investment Products and Services are distributed by Standard Chartered Investment Services Limited, a wholly owned subsidiary of Standard Chartered Bank Kenya Limited (Standard Chartered Bank/the Bank) that is licensed by the Capital Markets Authority as a Fund Manager. Standard Chartered Bank intends to report annually on impact The author and the above-mentioned employees of SCB or SCB (Taiwan) may have taken related actions in respect of the information involved (including communication with customers of SCB or SCB (Taiwan) as to the information contained herein). Download our PDF Weve got the global network, deep expertise and innovative vision to meet all your banking needs and more. investment guidelines. Offering a wide range of potential opportunities for active investors, sustainable bonds are an increasingly important part of global fixed income markets. The market for ESG bond issuance is growing at an impressive rate and we look forward to exploring new sustainability funding avenues in the future., Alex Kennedy, Head of Sustainable Finance Solutions, said: It was great to see such a positive response to our first USD Sustainability Bond issuance. The level of default risk varies based on the underlying credit quality of the issuer. We can help identify a Sustainable investment (SI) approach that best matches your personal values. Standard Chartered PLC today completed a $500 million offering of par-priced 1.214% four-year (non-call three) notes due March 23, 2025, at T+88. However, we have an equal preference for onshore vs offshore equities as we believe the regulatory risks for the internet sector and ADR delisting risks are fading. In addition, At PIMCO, we define ESG integration as the consistent consideration of material ESG factors into our investment research process, which may include, but are not limited to, climate change risks, diversity, inclusion and social equality, regulatory risks, human capital management, and others. Copyright 2023 Sustainalytics. If theres any cause for concern following the completion of the ESRA, well agree an action plan with the client to improve their risk profile and engage external specialists if appropriate. Follow Standard Chartered on Twitter, LinkedIn, Instagram and Facebook. Google Scholar. The Principal Office of the Company is situated in England at 1 Basinghall Avenue, London, EC2V 5DD. As a part of the strategic partnership, the bank and Microsoft will explore sustainable finance and business initiatives to expand sustainability across the industry. All rights reserved. Sustainalytics considers the financing of (i) renewable Nevertheless, the experience means the demand for relatively uncorrelated assets, or less volatile substitutes for traditional asset classes, is likely to sustain. Emerging markets face the biggest risk from climate change but also have the biggest opportunity to leapfrog to low carbon technology. Recently, we have seen a new type of social bond emerge in the form of COVID-related bonds. Standard Chartered Foundation; Sustainability hub; Insights. This report quantifies the impact of the EUR 500m Sustainability Bond of July 2019 and for the first time discloses the USD 3.9bn of Sustainable Assets that are aligned to the UNs Sustainable Development Goals (SDGs) in its Sustainable Finance portfolio. These challenges emphasize the importance of an investment manager that carefully assesses security documentations to determine the underlying use of proceeds and the expected impact. HSBC is a member of the International Capital Market Association's (ICMA) Executive Committee for the Green Bond Principles, which are a set of . While CFRA exercised due care in compiling this analysis, CFRA, ITS THIRD-PARTY SUPPLIERS, AND ALL RELATED ENTITIES SPECIFICALLY DISCLAIM ALL WARRANTIES, EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE, to the full extent permitted by law, regarding the accuracy, completeness, or usefulness of this information and assumes no liability with respect to the consequences of relying on this information for investment or other purposes. In the DIFC we are authorised to provide financial services only to clients who qualify as Professional Clients and Market Counterparties and not to Retail Clients. Weve released our first Sustainable Finance Impact Report, Third Party Risk Management for Non-Vendors. Emerging markets are at the most risk from climate change (and wider ESG issues), and they also represent the biggest investment opportunity, but investment is not flowing to these areas where it matters the most and where the impact is expected to be greatest. Ebenezer joined the Board of Standard . High-quality fixed income assets have tended to trough around the last Fed hike, as markets start to price an economic slowdown and eventual rate cut. If you are in doubt about any of the contents of this document, you should obtain independent professional advice. London-based lender Standard Chartered Bank has appointed Marisa Drew from Credit Suisse as chief sustainability officer. Green bond framework. Recipients in Vietnam should contact Standard Chartered Bank (Vietnam) Limited for any queries regarding any content of this document. Terms and conditions. IN RELATION TO ANY SECURITY OR SECURITIES-BASED DERIVATIVES CONTRACT REFERRED TO IN THIS DOCUMENT, THIS DOCUMENT, TOGETHER WITH THE ISSUER DOCUMENTATION, SHALL BE DEEMED AN INFORMATION MEMORANDUM (AS DEFINED IN SECTION 275 OF THE SECURITIES AND FUTURES ACT, 2001 (SFA)). All our relationship managers and credit officers get training to help them assess environmental and social risk according to our criteria, as well as access toa suite of online resources. It does not take into account the specific investment objectives, financial situation or particular needs of any particular person or class of persons and it has not been prepared for any particular person or class of persons. If youre looking for a career with purpose and want to work for a bank making a difference, wed love to hear from you. PIMCO has developed a four-pillar framework to help investors target long-term objectives to reduce portfolio exposure to greenhouse gases. employment generation including through the potential effect of SME Any forecast contained herein as to likely future movements in rates or prices or likely future events or occurrences constitutes an opinion only and is not indicative of actual future movements in rates or prices or actual future events or occurrences (as the case may be). Conduct process walkthroughs to analyse and evaluate the design effectiveness of control . All rights reserved. Jersey: In Jersey, Standard Chartered Private Bank is the Registered Business Name of the Jersey Branch of Standard Chartered Bank. Within Indian equities, we prefer large cap over small and mid-cap. Green Trade Loans can be used for regular or one-off purchases of goods and raw materials to support a variety of sustainable purposes including energy efficiency, renewable energy and sustainable food production. In Hong Kong, Standard Chartered Private Bank is the private banking division of Standard Chartered Bank (Hong Kong) Limited, a subsidiary of Standard Chartered PLC. In a disclosure to the Philippine Stock Exchange, the bank said the amount it raised was more than 10 times the original offer o Reductions in bond counterparty capacity may contribute to decreased market liquidity and increased price volatility. About Standard Chartered About Our long-term ambition Our suppliers Third Party Risk Management for Non-Vendors Here for good Sustainable investments Sustainable finance Supply chain Global trade More stories Diversity and inclusion Embracing diversity Gender equality Supplier D&I Our people Fighting financial crime Annual Report, covers the period 1 July 2020 to 30 June 2021, in line with the timing of our Sustainable Bond . Hong Kong: In Hong Kong, this document, except for any portion advising on or facilitating any decision on futures contracts trading, is distributed by Standard Chartered Bank (Hong Kong) Limited (SCBHK), a subsidiary of Standard Chartered PLC. Standard Chartered Bank Sustainability Bond Framework Second-Party Opinion. Banking activities may be carried out internationally by different branches, subsidiaries and affiliates within the Standard Chartered Group according to local regulatory requirements. Syahruzad E (2021) Financing Sustainability through Green Bonds. You should not rely on any contents of this document in making any investment decisions. The recent UN Climate Change Conference helped advance initiatives important to sustainable investing, especially the global energy transition. Any product named herein may not be offered or sold in Hong Kong by means of any document at any time other than to professional investors as defined in the SFO and any rules made under that ordinance. Through Futuremakers by Standard Chartered, we support young people to learn new skills, get job-ready and start their own businesses. Socially responsible norms differ by region, and an issuers ESG practices or PIMCOs assessment of an issuers ESG practices may change over time. This analysis has not been submitted to, nor received approval from, the United States Securities and Exchange Commission or any other regulatory body. Bank: Standard Chartered Bank in India. These include loans to renewable energy, healthcare, education as well as Microfinance and SME lending in low-income countries. IFCs Complaints Ombudsman or RSPOs complaints panel). "By issuing a Sustainability-Linked Sukuk, Etihad is voluntarily adding to its existing commitments under CORSIA, and also committing to reduce carbon emissions intensity by over 20% from the 2017 baseline," added Boukadida. of loans, and the amount of unallocated proceeds. Take a positive step by accessing a range of investment opportunities supporting the UN Sustainable Development Goals; including investments in clean water and sanitation, clean energy, and climate change. If youre looking for a career with purpose and want to work for a bank making a difference, wed love to hear from you. This document is intended for use only by Professional Clients and is not directed at Retail Clients as defined by the DFSA Rulebook. The bank's support for Adaro had been heavily criticised and prompted a shareholder resolution last year from campaign group Market Forces. United Kingdom: Standard Chartered Bank is incorporated in England with limited liability by Royal Charter 1853 Reference Number ZC18. LONDON, Nov 10 (IFR) - Standard Chartered joined in the FIG debt rush with a 500m 8NC7 sustainability bond that received more than twofold demand, the largest oversubscription recorded in. Richard Staff, Head of Capital Issuance and Term Funding, said: We are pleased with the strong reception this transaction received, both in terms of investor demand and positive feedback on our sustainable finance framework. The final order book reached $1.5bn from 39 accounts at reoffer, including $895m from the leads. Weve got the global network, deep expertise and innovative vision to meet all your banking needs and more. Client/s: Client means client from the personal, premium or priority segment who has maintained a savings account with the Bank. Standard Chartered says it looks to finance four types of sustainable trade finance activities. Standard Chartered 2023. energy, (ii) clean transportation & affordable basic infrastructure, (iii) Past performance is not a guarantee or reliable indicator of future results. Infographic: Our Sustainability Bond the facts and figures. The 10-year US government bond yield is expected to rise towards 3.75%-4.0% in Q1 23 as the Fed seeks to maintain tight financial conditions for now. The Client ESRA is reviewed each year to capture any changes to the clients risk profile. In May 2022, I completed the Sustainability & Climate Risk (SCR) certification offered by GARP.<br><br> I have had the opportunity to intern . The potential impacts include market makers related activities, such as dealing, investment, acting as agents, or performing financial or consulting services in relation to any of the products referred to in this document. Our model, diversified multi-asset income (MAI) strategy, is offering a yield of over 6%, levels last seen before the Global Financial Crisis. Standard Chartered PLC is listed on the London and Hong Kong Stock Exchanges. Botswana: This document is being distributed in Botswana by, and is attributable to, Standard Chartered Bank Botswana Limited which is a financial institution licensed under the Section 6 of the Banking Act CAP 46.04 and is listed in the Botswana Stock Exchange. Indonesia: This document is being distributed in Indonesia by Standard Chartered Bank, Indonesia branch, which is a financial institution licensed, registered and supervised by Otoritas Jasa Keuangan (Financial Service Authority). Proceeds from the bond will allow us to finance more projects aligned to the UNs Sustainable Development Goals (SDGs), which focus on addressing global challenges such as poverty, inequality and prosperity. More and more, investors look to align their portfolios with their financial goals and internationally recognized sustainability goals such as The Paris Agreement or UN Sustainable Development Goals (SDG). Sustainability-linked Bonds such as key performance indicator (KPI)-linked or SDG-linked Bonds are structurally linked to the issuers achievement of climate or broader SDG goals, such as through a covenant linking the coupon of a bond. Services/products related securities business offered by Standard Charted Bank are not intended for any person, who is a resident of any jurisdiction, the laws of which imposes prohibition on soliciting the securities business in that jurisdiction without going through the registration requirements and/or prohibit the use of any information contained in this document. We are Overweight Asia ex-Japan, with Chinas economic recovery likely to support an improved earnings growth profile. HSBC is one of a number of financial institutions that are playing an important role in shaping the fast-developing green bond market. SCB and SCB (Taiwan) will not provide any notice of any changes to or differences between the above-mentioned opinions. Learn more about our approach to ESG investing, Enhanced Short Maturity Active ESG Exchange-Traded Fund. If you are not the intended recipient, please destroy all copies and notify the sender immediately. Sustainability framework | Standard Chartered Home / Sustainability / Our position statements / Framework our framework Leading international standards For over 20 years, our cross-sector framework has helped us apply international standards and best practices across all of our markets The Singaporean government burst onto the ESG scene in 2022 with its debut green bond, netting S$2.4bn (US$1.8bn) and becoming the first sovereign worldwide to print such an issue at a 50-year tenor. Bond investments may be worth more or less than the original cost when redeemed. Standard Chartered has a bank-wide scorecard, that spans their three sustainability pillars and sets out their sustainability aspirationswith targets and timelines aligned to their business strategy and the UN Sustainable Development Goals (SDGs). Developed Markets (DM) Investment Grade (IG) government and corporate bonds are Neutral within bond allocations. S Standard Chartered Banks processes treatment facilities financed, and number of schools and hospitals Sustainability Bonds are fixed-income financial instruments ( bonds) where the proceeds will be exclusively used to finance or re-finance a combination of Green and Social Projects and which are aligned with the four core components of the International Capital Market Association (ICMA) Green Bonds Principles and Social Bonds principles. The bonds have a 1.125% coupon and were sold at 99.709, or a yield of 1.224%. We add a tilt towards Developed Market Investment Grade and Emerging Market bonds within the fixed income sleeve and have closed our relative preference for leverage loans vs High Yield bonds. The Company offers its products and services in the personal, consumer, corporate, institutional and treasury areas. Standard Chartered is having impact where it matters most, with 91% of sustainable finance assets located in emerging markets and 86% in some of the worlds least developed nations. In this case, progress, or lack thereof, toward the SDGs or selected KPIs then results in a decrease or increase in the instruments coupon. It has ballooned over . We are Neutral Euro area equities that continue to suffer from the impact of the Russia-Ukraine war, but the significant valuation discount is pricing in much of the bad news, in our view. SCB, SCB (Taiwan), the employees (including those who have discussions with the author) or customers of SCB or SCB (Taiwan) may have an interest in the products, related financial instruments or related derivative financial products contained herein; invest in those products at various prices and on different market conditions; have different or conflicting interests in those products. And how do they relate to and differ from social, sustainability and sustainability-linked bonds? London Standard Chartered PLC (the Group) has issued a USD 500 million senior unsecured Sustainability Bond, the proceeds of which will be used to finance activities that align to its updated Sustainability Bond Framework, including sustainable infrastructure, renewable energy and healthcare / COVID 19 lending. We see growing investor interest to finance sustainable development in Asia and Africa, but this is often hampered by elevated risk perception and a lack of investable opportunities. Lender Standard Chartered says it looks to finance four types of sustainable finance! Important part of global fixed income markets over time reduce portfolio exposure to greenhouse gases its products and services the! 99.709, or a yield of 1.224 % get job-ready and start their own businesses dual investments... 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