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Commitments

In this Review, we will demonstrate the progress we are making against our goals and highlight where we see ourselves today and what we hope to achieve going forward.

Setting goals is a key way to effect organisational change. While we continue to set ourselves stretching internal goals or targets across our business, we are confident enough in our ability to deliver that we have made public commitments to our external stakeholders.

We are proud to be involved with the Clinton Global Initiative (CGI). It has helped to focus us on the issues material to our business, to lay out a road map to tackle those issues and to ensure that we monitor our progress as we seek to reach our goals.

Our people have committed themselves to these goals and are proud when they, and the rest of the organisation, deliver.

Please see below for a status update on all our CGI commitments:

Commitment   Status update
Standard Chartered commits to reduce avoidable blindness around the world. Through investing $20 million in comprehensive and sustainable eye care services for 20 million people from the most disadvantaged areas of 20 cities globally, by 2013.   On track. In total, 50 per cent of the target has been reached. Our staff raised $5 million through fund raising activities, which we have matched. Projects have already been established in 13 countries.
Standard Chartered commits to take a lead role in the financing of new renewable energy and clean tech projects globally and/or companies focusing on Asia, Africa, and the Middle East with a total project value of $8-$10 billion over the five-year period from 2007-2012. Our role may be as lead arranger of debt, financial advisor, or as equity investor.   On track. We have taken the lead in financing $3.6 billion towards meeting our 2012 commitment.
Standard Chartered commits to provide development organisations and fund managers with $500 million worth of credit and financial instruments that they can use to finance microfinance institutions (MFIs) in Africa and Asia. The $100 million per year will benefit 4 million people over the five-year period. The Bank will also increase its focus on microfinance by supporting capacity-building programmes for MFIs and skills development for loan recipients.   Completed. We have provided credit and financing worth $540 million to our microfinance partners, exceeding our commitment two years ahead of schedule. These funds have impacted the lives of more than 3.3 million people in 14 countries.
Standard Chartered commits to extending the reach of its workplace HIV/AIDS programme, Living with HIV, by scaling up existing partnerships with customers, suppliers and NGOs to reach an additional one million people by March 2010.   On track. This year we secured pledges, through our partners, to educate more than one million people by March 2010.
Standard Chartered commits to carry out an Asia-wide Initiative to advance women's financial education, economic potential and leadership.   On track. This year we laid the foundations. We launched our website and held our first Women in Business summit. We have provided financial literacy education to 660 women in Asia.

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Annual Report and Accounts 2009