Standard Chartered United Kingdom
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Standard Chartered United Kingdom Active This profile is actively maintained Send feedback on this profile Created before Nov 2016 Last update: Feb 17 2021 About Standard Chartered Standard Chartered originates as a merger of two banks in 1969: The Chartered Bank of India, Australia and China, and Standard Bank of British South Africa. Despite its British base, Standard Chartered has few customers in the United Kingdom. Ninety percent of its profits come from Asia, Africa, and the Middle East. Its operations lie predominantly in former British colonies, though over the past two decades it has now expanded operations into 70 countries. Standard Chartered offers banking products to consumers, private clients and business, including an extensive Islamic banking operation. Website http://www.standardchartered.com Headquarters 1 Basinghall Avenue EC2V 5DD London United Kingdom CEO/chair Bill Winters CEO Supervisor Bank of England Annual report Annual report 2020 Ownership listed on Bombay Stock Exchange, Hong Kong Stock Exchange, London Stock Exchange & National Stock Exchange of India Standard Chartered's shareholder structure can be accessed here. Complaints Standard Chartered does not operate a complaints channel for individuals and communities that may be adversely affected by its finance. However the bank may be contacted at [email protected]. Reports concerning and misconduct can be sent via the bank’s “Speaking Up” web page. grievances Stakeholders may also raise complaints via the OECD National Contact Points (see OECD Watch guidance). Sustainability Voluntary standards Standard Chartered has committed itself to the following voluntary standards: Klimaschutz-Selbstverpflichtung des Finanzsektors Banking Environment Initiative Carbon Disclosure Project Collective Commitment to Climate Action (CCCA) Equator Principles Global Reporting Initiative Natural Capital Declaration Net-Zero Banking Alliance (NZBA) Paris Agreement Capital Transition Assessment (PACTA) Principles for Responsible Banking (PRB) Roundtable on Sustainable Palm Oil (RSPO) Science Based Targets Soft Commodities Compact Task Force on Climate-related Financial Disclosures UNEP Finance Initiative United Nations Global Compact Wolfsberg Principles Investment policies Standard Chartered's web page on corporate social responsibility can be accessed here. Sustainability framework - Leading international standards Date listed represents date accessed on website Mar 18 2021 | Standard Chartered Position Statement - Extractive Industries Feb 23 2021 | Standard Chartered Modern Slavery Statement 2019 Mar 10 2020 | Standard Chartered Power Generation Position Statement Feb 4 2020 | Standard Chartered Chemicals and manufacturing Position statement Feb 4 2020 | Standard Chartered Position Statement Human Rights Aug 19 2019 | Standard Chartered Climate change position statement Aug 13 2019 | Standard Chartered Summary of approach on defence goods Aug 5 2019 | Standard Chartered Agro-industries position statement May 21 2019 | Standard Chartered Infrastructure and transport Position statement Apr 19 2019 | Standard Chartered Code of conduct Nov 22 2018 | Standard Chartered Anti-Bribery and Corruption: Summary of Policy Nov 22 2018 | Standard Chartered Anti-Money Laundering Policy: Summary of Policy Nov 22 2018 | Standard Chartered Supplier charter Nov 22 2018 | Standard Chartered Prohibited Activities List Aug 25 2018 | Standard Chartered Position Statement on Palm Oil Jul 31 2017 | Standard Chartered BankTrack campaigns and Standard Chartered Human rights True leader BankTrack has assessed Standard Chartered on its implementation of the UN Guiding Principles on Business and Human Rights in June 2016. Standard Chartered is assessed as a Laggard, with a total score of 1.5/12. Front runner Policy: 1/3 Due dilligence: 0.5/3 Reporting: 0/3 Remedy: 0/3 Follower For more details, see Banking with Principles? 2016 update. Laggard Equator Principles Implementation and reporting The Equator Principles require that adopting banks publicly report on the implementation of the principles. You can find the reporting requirements for EPFIs here. Standard Chartered is reporting on the implementation here. Contact and complaints The Equator Principles currently lack a formal complaints mechanism. Should you have any concerns or complaints about how the Equator Principles are being applied in a specific project in which Standard Chartered is also involved, please get in touch with our Equator Principles team. Equator Principles Dodgy Deals BankTrack is monitoring the following Equator Principles projects that are co-financed by Standard Chartered -note that some files may be on record, no longer updated-: Projects Mozambique LNG Mozambique LNG Terminal | Pipeline Transportation of Natural Gas active Nachtigal hydropower plant Cameroon Hydroelectric Power Generation active Trans Adriatic Pipeline (TAP) - international - Oil and Gas Extraction | Pipeline Transportation of Natural Gas active Liquified Natural Gas (LNG) project Papua New Guinea LNG Terminal on record Nam Theun 2 dam Laos Hydroelectric Power Generation on record Rapu Rapu copper mine Philippines Mining on record Sakhalin II oil and gas project Russian Federation Oil and Gas Extraction on record Vinh Tan III coal power plant Vietnam Coal Electric Power Generation on record Good moves 2019 Standard Chartered announces exit from three coal plant projects and phase-out of corporate support for coal Today Standard Chartered has announced that it will withdraw from the lending consortia for three new coal- fired power plant projects. The move was applauded by NGOs which have been calling on the London and Hong Kong-headquartered bank to do so since it introduced a prohibition on direct financing for new coal-fired power… 2018 One step beyond coal - New policy move from Standard Chartered welcomed UK bank Standard Chartered’s announcement today that it “will not directly finance any new coal-fired power plant projects, including expansions, in any location” has been welcomed by BankTrack as a positive step towards bringing the bank's finance into line with the Paris Agreement goals. [1] The… Standard Chartered declines financing Nghi Son 2 coal-fired power plant Standard Chartered has declined taking part in the consortium financing the Nghi Son 2 coal-fired power plant in Vietnam. While the reasons for this move was not disclosed it is understood that the bank considered the project in violation of its lending policies for such projects, including the Equator Principles.… 2015 Standard Chartered and CommBank pull out of massive Carmichael coal mine In August, two banks ended their involvement in Adani's massive proposed Carmichael coal mine project in Australia. The project, which has been championed by Prime Minister Tony Abbott, faces an uncertain future due to legal challenges as well as its problems in attracting finance. Australia's Commonwealth Bank ended… Related Dodgy Deals Standard Chartered has been linked to the following "Dodgy Deals", e.g. as a current or past financier or through an expression of interest. Find out more about dodgy deals here. See the project or company profile for more details on the nature of the bank's link to the Dodgy Deal. Projects Carmichael coal mine project Australia active Coal Mining Trans Adriatic Pipeline (TAP) - international - active Oil and Gas Extraction | Pipeline Transportation of Natural Gas Mozambique LNG Mozambique active LNG Terminal | Pipeline Transportation of Natural Gas Nachtigal hydropower plant Cameroon active Hydroelectric Power Generation Formosa Plastics' "Sunshine Project" United States active Chemical Manufacturing Rapu Rapu copper mine Philippines on record Mining Sakhalin II oil and gas project Russian Federation on record Oil and Gas Extraction Nam Theun 2 dam Laos on record Hydroelectric Power Generation Mountain top removal coal mining United States on record Coal Mining Palm Oil Plantations in the Sambas District Indonesia on record Agriculture for Palm Oil Grasberg gold and copper mine Indonesia on record Mining Bauxite mine Niyamgiri Hills India on record Mining Canadian tar sands Canada on record Oil and Gas Extraction Mining in Goa/ Sesa Goa India on record Mining Liquified Natural Gas (LNG) project Papua New Guinea on record LNG Terminal Jaitapur nuclear power plant India on record Nuclear Electric Power Generation Sasan ultra mega coal power project (UMPP) India on record Coal Electric Power Generation Great Barrier Reef Coal & Gas Exports Australia on record Coal Mining | Fossil Fuels Bulk Stations and Terminals | Oil and Gas Extraction Solwara 1 Deep Sea Mining Project Papua New Guinea on record Mining Vinh Tan III coal power plant Vietnam on record Coal Electric Power Generation Companies Adani Group India active Coal Electric Power Generation | Coal Mining | Oil and Gas Extraction Sime Darby Malaysia active Agriculture for Palm Oil Adaro Energy Indonesia active Coal Electric Power Generation | Coal Mining TotalEnergies France active Gas Electric Power Generation | Oil and Gas Extraction | Pipeline Transportation of Crude Oil | Pipeline Transportation of Natural Gas Indofood Indonesia active Agriculture for Palm Oil RWE Germany on record Biomass Electric Power Generation | Coal Electric Power Generation | Coal Mining | Commodities Trading | Nuclear Electric Power Generation | Solar Electric Power Generation | Wind Electric Power Generation Rio Tinto Australia on record Coal Mining | Mining | Nuclear Electric Power Generation Eskom South