Our approach to sustainability

Engagement

We engage with external stakeholders including non-governmental organisations (NGOs), investors and governments to communicate our position and understand different perspectives.

This helps us to clarify priorities and develop policies. Working with others also helps us to identify opportunities for sustainable development and to maximise our contribution through partnerships. Through stakeholder engagement, we also gain insights on how external stakeholders perceive the Bank’s performance on sustainability issues.

Stakeholder feedback on our sustainability strategy and approach to reporting

In 2008, we carried out specific stakeholder engagement through a series of workshops in the UK, China and India, and telephone interviews with opinion leaders in the UAE, Kenya, Hong Kong and South Korea. A consensus across the different groups was an appreciation of the Bank’s comprehensive approach to sustainability, rather than a sole focus on environment and climate change.

We have used their feedback in the development of this Review, especially:

Where we can improve

In addition, in 2008, Standard Chartered was once again included in the FTSE4Good Index. The Bank was also included in the Goldman Sachs’ GS Sustain framework as one of the top seven companies best positioned to sustain competitive advantage, with high environmental, social and governance performance.

We continue to actively engage external stakeholders and below are some examples of the engagement we carried out on various sustainability priorities:

• Dialogue with experts and opinion formers on the loss of public trust in banks as a result of the financial crisis and what is needed to address it
• Technical assistance forums for microfinance institutions in India, Nigeria and Zambia
• Engaged with governments and regulators in our markets to discuss enabling regulatory policy for microfinance
• Worked with other members of the UK Corporate Leaders Group on Climate Change and the UN Environment Programme Finance Initiative (UNEPFI) Working Group on Climate Change
• Worked with The Climate Group and other international banks to develop the Climate Principles
• Hosted a meeting in conjunction with The Climate Group between former British Prime Minister Tony Blair and Indian business leaders to discuss the need for a new international framework on climate change
• Partnered with the WWF to increase employees’ and public awareness of the environment and climate change through the Race for a Living Planet
• Worked as a member of the International Chamber of Commerce Anti-Corruption Panel and the British Bankers’ Association (BBA) Money Laundering Group

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