Standard Chartered Bank - commendation for 'Best Overall Bank'
Standard Chartered Bank received The Banker Corporate Responsibility
Commendations 2008 for 'Best Overall Bank', 'Best Corporate Finance' and
'Banking the Unbanked' in recognition of its innovation and
industry-leading sustainability activities.
Standard Chartered Group Chief Executive, Peter Sands said, "This is
a huge tribute to the hard work and commitment of our staff in driving
forward sustainability practices which are woven into the fabric of how
we work at Standard Chartered. At a time of economic unrest, we truly
stand out for thriving in a sustainable way in emerging markets."
Last year the Bank invested $170 million in financial inclusion and
has pledged to invest $500 million in microfinance by 2011. In addition
to microfinance, Standard Chartered has arranged a $500 million Islamic
project finance deal in UAE. Its investments in renewable energy and
clean technologies include an $800 million renewable energy fund, a $25
million South Korean wind farm and a EUR50 million investment in a
carbon fund.
In being commended for Best Corporate Finance, the Bank was
recognised for its heritage and expertise in emerging markets and risk
forecasting. With 93 per cent of its revenue generated in emerging
markets, the Bank developed advanced strategies for forecasting and
anticipating social, political and environmental risk - a strong track
record in risk mitigation.
Standard Chartered is the co-lead for a hydroelectric plant at
Bujagali Falls - at $682 million, one of the biggest financing projects
in Uganda. It will supply the majority of Uganda's electricity and is
expected to approximately halve the cost of electricity on completion. |