Asian banks innovate products to meet corporate ESG goals

The GFIT is divided into workstreams, with focuses on developing a taxonomy with clear sustainability objectives, improving environmental risk management, and supporting green financing solutions. Standard Chartered launched an ESG-linked cash account for their corporate banking clients, tying the i...

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Bibliographic Details
Published in:The Banker 2024-11, p.100
Main Author: Long, Kimberley
Format: Article
Language:English
Subjects:
Product development
Regulation
Supply chains
Sustainability
Value chain
Online Access:Get full text
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Summary:The GFIT is divided into workstreams, with focuses on developing a taxonomy with clear sustainability objectives, improving environmental risk management, and supporting green financing solutions. Standard Chartered launched an ESG-linked cash account for their corporate banking clients, tying the interest rates and fee pricing to the company's performance. In order to meet the requirements of the account, the ESG targets must be related to the client's business area, have material impact, and be ambitious compared with an external benchmark of the client's peers and their previous performance.
ISSN:0005-5395