Standard Chartered takes a holistic approach in spearheading sustainability in its business and the community

In realising its all-rounded commitment to sustainability, Standard Chartered implements a range of initiatives from sustainable finance products, thematic research, large-scale sport and art events, to innovative eco-awareness client experiences, and more, to create positive, real-world impact.

As the oldest note-issuing bank in Hong Kong, Standard Chartered celebrates 165 years of being an integral part of the community since 1859. It is firmly anchored in its brand promise - Here for good, combining deep local expertise with global capabilities to unlock sustainable, inclusive growth with local partners in all the global locations it operates.

Standard Chartered is committed to four main sustainability goals in its corporate strategy, namely, to mobilise US$300 billion of sustainable finance globally to support client’s transition to low-carbon; to achieve net zero emissions from financed activities by 2050 and from its operations by 2025; to enhance sustainability ecosystem through global partnerships in sustainable finance, voluntary carbon markets, conservation finance and advancement of social topics underpinning the UN Sustainable Development Goals; and to drive impact through its Futuremakers initiative, which funds programmes that promote economic inclusion and entrepreneurship.

Advocating a low-carbon economy through pioneering research

To feature an economic sustainability initiative, Standard Chartered breaks new ground by exclusively supporting the economic research report on “Decarbonisation Pathways and How Finance Can Accelerate the Business Transition to a Low-Carbon Economy in the Guangdong-Hong Kong-Macau Greater Bay Area (GBA)”. As the first GBA-focused decarbonisation and transitional finance research report, it forms a critical link to connect decarbonisation solutions with necessary financing needs for net-zero transition in the region.

The report was published in April 2023 and implemented by World Resources Institute, Civic Exchange Policy Institute, Hong Kong Green Finance Association, GBA Green Finance Alliance and other academic institutions.

In summary, this insightful report identifies three key industries for decarbonisation, including manufacturing industry, buildings and road transport, which accounted for 32%, 31% and 20% of the emissions (2020 data) respectively. The report estimates that GBA needs approximately US$1.84 trillion to achieve its carbon emission reduction goals by 2060 or earlier. Specifically, US$1.6 billion will be needed for the petrochemical and chemical industries, US$200-700 billion for transition of road transport, and US$314 billion in the building sector.

Standard Chartered’s support of this authoritative research illustrates its commitment to accelerating carbon transition in the GBA through mobilising financing and the bank’s thought leadership position in this area.

Raising awareness via eco-conscious events

In a determined endeavour to bring brand-new eco-awareness experiences to its banking clients, Standard Chartered has spared no effort in implementing sustainability initiatives in every detail of its client events.

For example, its Hong Kong Corporate Clients Lunar New Year Celebration in 2023 has achieved carbon neutrality through a well-defined “4R” approach. It includes REDUCTION in production materials through digitalisation, saving 360 cubic meters of wooden board (which would have generated 4,300 kg of CO2) and 230 square meters of PVC vinyl (which would have taken 450+ years to biodegrade). In addition, decorative display materials were REPLACED with projected visuals & 3D technology. Finally, only REUSABLE and RECYCLABLE materials were used.

After the event, waste materials were delivered to recycling stations in collaboration with NGOs. The event was paperless with seamless digital registration and instant online photo sharing. To maximise positive social impact, giveaways to clients were created by social enterprises that empower women and the underprivileged. Thought also went into providing more vegetarian food options and portion control to reduce food waste.

Likewise, at Standard Chartered’s Hong Kong 2023 Rugby 7s Client Box, beautifully stylish recycled art by local artist Agnes Pang were showcased, giving a second life to waste such as foam nets that are used to protect fruits and vegetables in transit, wire cables and aluminium cans.

Driving social sustainability by impactful community programs

Standard Chartered is the powerhouse behind mega sports and arts events that support social sustainability.

The Standard Chartered Hong Kong Marathon,started in 1997, is the largest annual international sporting event in Hong Kong with an overwhelming participation of 74,000 local and international runners.

This year, a commemorative edition of the Standard Chartered Hong Kong Marathon - Hong Kong International Airport•Standard Chartered Hong Kong Marathon: Three-Runway System 10km International Race – was also organised to celebrate the full operations of all three runways at the Hong Kong International Airport. The event offered 11,000 runners a once-in-a-lifetime experience of running on the airport’s runway with aircrafts taking off and landing nearby.

Meanwhile, Hong Kong’s largest outdoor youth arts festival, Standard Chartered Arts in the Park is an annual youth education programme that takes place over six months and culminates in a public free-admission two-day carnival at Victoria Park.

Each year, the event involves over 3,500 young people from 200 schools and youth organisations to develop original performance pieces and collaborate with professional artists to create a colourful parade and immersive exhibition art. It offers opportunities for young people to develop valuable life skills such as creativity, teamwork, problem-solving capability and leadership skills.

Imbuing the city with creative atmosphere and positive energy over a fun-filled weekend, the event climaxes with a Grand Finale Parade featuring ten four-meter-high giant puppets and a parade team comprising over 400 individuals.

Last year, Arts in the Park showcased over 6,000 artworks created by 5,000 local youngsters, engaging more than 1,500 Standard Chartered employees and attracting nearly 100,000 local and international visitors. This year, the carnival will be held this weekend (30 November and 1 December) in Causeway Bay.

With committed on-the-ground people and practical down-to-earth approaches, Standard Chartered has successfully demonstrated how to bring sustainability goals to life and make a difference for the planet and the generations to come.

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