Author Virginia Furness
London (Reuters) – Standard Chartred on Friday has pledged to reduce emissions associated with bonds that sell for oil and gas companies and will arise in advance with their Net -Nun strategy, unlike other borrowers who re -examine their climate plans.
The London list is planning to reduce 26.9% of polluting emissions related to bond contracts regulated for oil and gas companies by 2030, she announced that she announced 18% annual leap of profit and redemption of a stake in the amount of 1.5 billion dollars.
Most large banks have goals to reduce emissions associated with their borrowing, but only a few have set the so -called facilitated show. The campaigns have long been pushed by banks to place them in the pollution industry, and the new target chartred is a new goal only for oil and gas.
Standard Chartred Director Bill Winters said to analysts that the bank remained a net-fell to the middle of the century and that clients did not slow down efforts on decarbonis.
“Why are we so successful in the space? Because we focused on it, because our clients need us,” he said, adding that the strategy was very profitable to the bank.
“Our clients are (in) a transition to a net zero. This is unobstructed despite some challenges.”
Last year, the business of sustainable finance of the bank brought almost $ 1 billion in revenue last year, Winters said.
The efforts to encourage climate activity in the financial industry are recently shocked, including the announcement of the HSBC this week to delay its goal of net emissions for 20 years to 2050, the same as the Chartered Standard.
HSBC said he would review their goals and policies in the financing of emissions as part of the wider overhaul of his 2025 climate strategy.
The Chartered Standard, which focuses on developing countries, will continue to help manufacturers of fossil fuels to raise funds, but also published its first transitional plan, described in detail the progress of Net Zero and how to help clients do the same.
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