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Organization Name

Standard Chartered Bank

Case Story Title

Environmental Initiative by Standard Chartered

Case Story Date

2002/06/07

Issues Addressed

  • Principle 7 - Businesses should support a precautionary approach to environmental challenges
  • Principle 8 - Undertake initiatives to promote greater environmental responsibility
  • Principle 9 - Encourage the development and diffusion of environmentally friendly technologies

Case Story Category

Partnership Project

Countries of Impact

Case Description

Standard Chartered is committed to minimising the environmental impact associated with its operations. In 2001 Standard Chartered:

- revised its Group Environmental Policy;

- signed up for the UK Government's MACC2 (Make a Corporate Commitment) scheme and committed to reduce its UK greenhouse gas emissions by 7.5% between 2000 and 2003;

- had its key UK premises certified by BREEAM (Building Research Environmental Research Assessment Methodology) as "Very Good";

- revised its credit policy to ensure that environmental concerns are given due consideration in banking transactions with customers;

- implemented a new procurement policy to ensure that environmental concerns are taken into account in procurement decisions;

- was congratulated by BiE (Business in the Environment) for improvement in their Annual Index; and

- for the first time published its environmental report on http://www.standardchartered.com/global/csr/environment.html- Standard Chartered as a company is now more aware of the environmental impact of their business.

- Practical commitments have been made to reduce UK greenhouse gas emissions and waste production and these targets are being actively managed towards.

- Cost savings have been made as investments created savings in energy and water costs.

- A programme has been implemented to roll out an environmental management system to 5 major overseas sites in 2002.

- Staff awareness of environmental issues has increased.

- The potential reputational risk faced by the company from environmental factors has been reduced.

- With the production of an environmental report, engagement and transparency have improved.

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Contact Person

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