Our approach to sustainability

Sustainability governance

A series of mechanisms are in place to ensure that our sustainability strategy addresses material issues for both our business and for our markets, and is underpinned by sound governance and reporting.

Sustainability governance

The Board of Standard Chartered PLC established a board committee in 2005, the Sustainability and Responsibility Committee, to oversee the delivery of our sustainable business strategy to ensure the Bank’s sustainability ambitions on each of our seven strategic priorities are achieved. It is chaired by a non-executive director and membership includes the Group chief executive and at least two further non-executive directors. It meets at least three times a year. Country CEOs are responsible for identifying and responding to local sustainability issues.

Under the oversight of the Sustainability and Responsibility Committee and reporting through the Group Management Committee, the executive of the Bank, a series of other committees and steering groups also underpin our governance approach to sustainability. They review emerging and current risks as well as opportunities, make recommendations to the board and co-ordinate initiatives. These supporting committees include:

  • The Group Reputational Risk and Responsibility Committee which identifies, reviews and manages significant reputational risks to the Bank. It is supported by committees in Consumer and Wholesale Banking that review new product development as well as ensuring the Bank’s environmental and social risk policy is applied to lending decisions.
  • The Standard Chartered Environment Committee is responsible for overseeing delivery of the Group-wide environment strategy and policy. It meets every two months and includes senior executives from global businesses, functions and markets.

    In 2008, we introduced Country Environment Committees across our markets to drive environmental action and engagement locally. The committees comprise senior members of local management.
  • The Group Financial Crime Risk Committee is responsible for reviewing current and emerging financial crime risks and ensuring there is an appropriate risk management strategy in place to address those risks.

The Bank has a dedicated Group Sustainability function with senior leadership to ensure an integrated approach to sustainability and that strategic priorities are delivered, with active engagement in all aspects of the business. It also works with external stakeholders, engaging them on the Bank’s sustainability strategy and progress.

Highlights

  • $3.2bnValue of renewable energy and clean technology projects financed since 2007
  • $385mCredit extended to partner microfinance institutions
  • 2m peopleEyesights restored thanks to Seeing is Believing