Standard Chartered United Kingdom
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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 Africa on record Coal Electric Power Generation | Nuclear Electric Power Generation
National Thermal Power Corporation (NTPC) India on record Coal Electric Power Generation | Coal Mining | Hydroelectric Power Generation | Wind Electric Power Generation
BHP Billiton Australia on record Coal Mining | Mining | Oil and Gas Extraction
Vedanta Resources United Kingdom on record Mining ENGIE France on record Coal Electric Power Generation | Hydroelectric Power Generation
Korea Electric Power Corporation (KEPCO) South Korea on record Coal Electric Power Generation | Coal Mining | Nuclear Electric Power Generation
IOI Corporation Malaysia on record Agriculture for Palm Oil
Kencana Group Singapore on record Agriculture for Palm Oil
Anglo American United Kingdom on record Coal Mining | Mining
Glencore Switzerland on record Coal Mining
Vale Brazil on record Coal Mining | Mining
Jindal Steel & Power India on record Coal Mining | Mining
Marubeni Japan on record Coal Electric Power Generation | Mining | Pulp, Paper and Paperboard Mills
Bunge United States on record Agriculture for Food Crops | Agriculture for Palm Oil
Trafigura Singapore on record Commodities Trading | Oil and Gas Extraction
Vitol Switzerland on record Commodities Trading | Oil and Gas Extraction