Standard Chartered Bank is an emerging markets focused bank, deriving around 90% of its income and profitsfrom Asia, Africa and the Middle East.
Henrik Raber, Global Head, Capital Markets, on the back of Standard Chartered’s partnership with the Climate Bonds Initiative, said:
“We believe a large and liquid green and climate bonds market is an important part of the financing solutions we need, to address climate change.
We are very pleased to be partnering with the Climate Bonds Initiative to grow this market, and grow it quickly, and contribute to meaningful outcomes in the countries that need it most.”
Mark Devadason, Group Head of Sustainability, Standard Chartered, said:
“Many of the countries where we operate across Asia, Africa and the Middle East are likely to face a disproportionate share of the negative impact of climate change. They will increasingly need low-cost financing solutions to adapt their infrastructure, as well as to build and transition to pollution-free energy, clean water, and sustainable and productive cities.”
Climate Bonds Initiative CEO Sean Kidney said:
“Asia Africa and the Middle East are going to see enormous growth in the next thirty years. It’s vital for the world that that growth is low-carbon, green growth."
“Green infrastructure solutions are needed that improve the lives of ordinary people with both pollution-free energy and clean water - and help provide the economic opportunity people in richer countries take for granted."
“Standard Chartered acts as a bridge between rich world capital markets and emerging economy investments. They are going to be vital to financing what must become a 30 year green infrastructure revolution.”
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The Climate Bonds Initiative has issued an open invitation to banks, issuers, investors and NGOs to join as Climate Bond Partners to help rapidly grow what is already a US$50bn market of green and climate bonds.
