For clients in our highest-emitting sectors, we have made it a condition of our financing that they must have a credible transition plan by the end of 2022. In January 2021, ING received an ESG evaluation score of 83 (strong) from S&P Global Ratings. Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. As part of this market creation process, the G20's Sustainable Finance Working Group has been tasked with developing a high-level framework for transition finance in 2022. 445 of 28 December 2000. Following the process set out in the Framework, we recently labelled our first transactions internally as Transition. Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://blog.citigroup.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi. By co-leading the Steel Climate-Aligned Finance Working Group, our ambition is to help define a pathway consistent with the development of low-carbon industrial solutions in the steel sector. The global transition to net zero carbon emissions is the biggest challenge that we face today. <> Privacy Policy. ING is a global financial institution with a strong European base, offering banking services through its operating company ING Bank. Sustainalytics released the Second Party Opinion on 29 November 2021 stating that it is of the opinion that AAHKs SFF is credible and impactful and aligns with the Sustainability Bond Guidelines 2021, Green Bond Principles 2021, Social Bond Principles 2021, Green Loan Principles 2021, and Social Loan Principles 2021 based on Sustainalytics assessment of the four components of AAHKs SFF including use of proceeds, process for project evaluation and selection, management of proceeds and reporting. Additionally, we provide details on financing provided through sustainability-linked instruments. With close cooperation between the industry and regulators, combined with technical innovation and support from banks like ours, we can jointly establish a competitive, digitalized and decarbonized steel industry. The world must act now if it is to deliver the United Nations Sustainable Development Goals (SDGs) for a more sustainable society by 2030. 10 0 obj endobj Some companies simply need a roadmap. Most of this finance, however, is raised in developed countries by established companies with access. LinkedIn Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise, Here for good. These transactions included financing for projects that will kick-start the decarbonisation of a cement plant and contribute towards the elimination of flaring in an African country. San Donato Milanese (MI), 20 May 2021 Today, Eni published the worlds first Sustainability-Linked Financing Framework (Framework) in its sector, which fully-integrates sustainability in the companys funding strategy. Alongside continuing operational requirements, youll need to balance enduring targets with emerging ones including sustainability and digitialisation aspirations. Were committed to promoting sustainable development in our markets through our banking services. To support the strong growth of our Sustainable Finance portfolio, and to meet the green funding needs, we designed a Green Bond Framework that meets the highest standards on transparency and disclosure and aligns with the ICMA Green Bond Principles (GBP). We must urgently support these sectors with their transition. You acknowledge that no registration or approval has been obtained and Eni Gas e Luce S.p.A. societ benefit and its affiliates assume no responsibility if there is a violation of applicable law and regulation by any person. Sustainability | Standard Chartered Home / Sustainability Our approach to sustainability We're committed to sustainable social and economic development across our business, operations and communities including achievement of net zero emissions and the UN Sustainable Development Goals. For each of these KPIs, Eni has defined intermediate and long-term Sustainability Performance Targets (SPTs) that contribute to the achievement of the UN SDGs, in particular UN SDG 7 "Affordable and Clean Energy" and UN SDG 13 "Climate Action". Standard Chartered 2023. Sustainable finance solutions from Standard Bank Standard Bank is a leading provider of innovative and sustainable business finance offerings in Africa. IsDB focuses its work in the following areas: . Serving clients' sustainable finance needs. We are also the only bank in Italy with an EE+ rating from Standard Ethics in particular thanks to our strong compliance and risk management. Sustainability-linked debt is currently one of the fastest growing segments in the sustainable finance marketFootnote 3 Details. endobj financial institutions lack the common practical tools. We actively engage with our stakeholders to mitigate the impact that stems from our financing decisions. With topics around urban transformation, energy transition, the future of transport and critical infrastructure across Asia, Africa and the Middle East, this content series will unearth fresh trends and showcase how we are supporting clients in the transition towards a more sustainable and inclusive future. <> That challenge is greatest for emerging-market-headquartered companies, where 64 per cent of executives tip a lack of internal net zero transition support as a hurdle. Standard Chartered Bank established a three-level process, which includes pre-selection by the Sustainable Finance Working Group, an evaluation by the Sustainable Finance and Environmental and Social Risk Management department, and final approval by its internal Sustainability Bond Committee, which is comprised of one representative from each of When I joined Standard Chartered in 2016, one of the things that struck me was the line Here for Good. The more time that I spent with the bank and interacting with people across our markets, the clearer it became that that rallying cry is the reason why people work for us. We have a deep market to source financing for renewable energy and other green projects in developed markets, but we now need to tackle the carbon-intensive, hard-to-abate industries that are embedded within the global economy. ING aims to be a positive force in the fight against climate change. Find out more Our approach You acknowledge that the access to information and documents contained on this portion of the website may be illegal in certain jurisdictions, and only certain categories of persons may be authorized to access this portion of the website. 103 green, social, sustainability or sustainability-linked bond transactions supported. We can provide the support and advice that clients need to accelerate their net zero journey. The CSRM charter is a trademarked charter available . Now is the time to optimise the impact of sustainable finance by focusing on the regions at greatest risk from climate change, and by tackling the inequalities that must be addressed in society and the economy. ",#(7),01444'9=82. Finally, we need to direct the benefits of sustainable finance to the regions that are most at risk from climate change and have the biggest opportunity to reduce greenhouse gas emissions through a jump to low-carbon technologies. A climate-aligned finance agreement establishes a framework for assessing and disclosing the degree to which the greenhouse gas emissions associated with a financial institutions portfolio are in line with 1.5C climate targets. These targets are aligned with Eni's strategic plan and considered ambitious by V.E in relation to the broader sector. All rights reserved. and At Standard Chartered, we have developed a Transition Finance Framework to govern our activities in this area. Were committed to promoting sustainable development in our markets through our banking services. The Transition Finance Imperative is our commitment to facilitating the net zero transition. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Other The Framework and V.E Second Party Opinion are available at the following address: Additional information on the Enis sustainability strategy and commitment to the UN SDGs is available to the public on Enis website, at https://www.eni.com/en-IT/just-transition.html, Tel: Our frameworks, developed in collaboration with Sustainalytics, the leading provider of ESG and corporate governance research, set out what qualifies as sustainable and green products. It can take decades to negotiate global standards, as we have seen with international tax harmonisation. Referral by HSBC Our presence in the markets that face the biggest capital shortfall for the net zero transition gives us a unique opportunity to ensure that economic development continues at pace while climate impact is reduced. Democratising the market will ensure that capital flows to the countries most at risk from climate change. As Standard Chartered has shown, financing a solar project in India can help avoid more than seven times the CO2 emissions than a similar-sized project in France because of the current sources of power on those countries grids. Start your sustainable trade financing conversation with us today. Mobilising the trillions of dollars needed each year to address global warming and other climate challenges will require greater innovation to link investors interests directly with real-world impact. https://www.hongkongairport.com/iwov-resources/file/sustainability/environment/sustainable-finance/AA_Sustainable_Finance_Framework_Final.pdf, Sustainalytics Second Party Opinion in relation to the Sustainable Finance Framework, https://www.hongkongairport.com/iwov-resources/file/sustainability/environment/sustainable-finance/Airport_Authority_Sustainable_Finance_Framework_Second-Party_Opinion_Final.pdf, Airport Authority Hong Kong Publishes Sustainable Finance Framework. <> New York City - May 27, 2021. To act on climate change, we need to mobilise more funding into green projects, particularly in developing countries. Our work is based on passion and innovation, on our unique strengths and skills, on the equal dignity of each person, recognizing diversity as a key value for human development, on the responsibility, integrity and transparency of our actions. The challenge for the steel sector to decarbonize is significant with alternative technology paths unproven and not yet commercialized. When you sign up, we will keep you informed with the latest RMI news and insights through periodic email communication. Issued under the "Sustainable Goods" pillar of the Bank's Sustainable Trade Framework, the transaction helps advance ADM's widening efforts to expand sustainable farming practices and source sustainably produced goods. This file opens in a new windowOur bond framework | pdf, This file opens in a new windowOur sustainable finance impact report | pdf, This file opens in a new windowOur second party opinion | pdf, This file opens in a new windowOur verified annual review data | pdf, This file opens in a new windowOur sustainable finance impact report 2022 (full year) | pdf. It will also help us to define our expectations for change and define an ambitious yet realistic trajectory to meet those ambitions., Arnout van Heukelem, global head metals, mining & fertilizers, ING Bank. For more information on our ESG initiatives, please visit https://www.citigroup.com/citi/about/esg/. By leading this working group we signal our commitment to help define what the energy transition means for the sector and our clients. For example, we have established internal guidance for our teams working on sustainability-linked finance transactions in high-emitting sectors to encourage financing structures that incentivize meaningful reductions in greenhouse gas emissions. Facilitating the investment required will be challenging. We see sustainable finance as a significant growth opportunity for our clients and our business. The fundamentals, recommendations and guidance. Blended finance is another important tool for catalysing investment. The world must reach net-zero . We want to make the world a better, cleaner and safer place and minimise the negative impact of our financing. Standard Chartered 2023. Eighty per cent of our business is in emerging markets where energy from fossil fuels plays a critical role in supporting living standards. From RBCs perspective, the phrase meeting the needs of the present without compromising the future captures the essence of both how and why we see sustainable finance as key to delivering on RBCs purpose of helping clients thrive and communities prosper. I understand that it may affect my rights. As clients and investors' expectations grow for financial institutions to integrate sustainability considerations such as environment, social and governance (ESG) factors into their lending, investment and product portfolios, navigating this fast-moving space can be a challenge. See how you compare against the 5 new critical indicators of sustainable supply chains Take the assessment. endobj We are committed to supporting the integrity of the sustainable finance market. All rights reserved. Developed through unprecedented multi-stakeholder collaboration between major shipping lenders, industrial corporations and experts, the Principles set the stage for a similar framework in other sectors, such as steel. The Framework regulates the standards for sustainable financing instruments (including all green, social or sustainability bonds, sukuks, loans and other debt instruments) and eligible green and/or eligible social projects. The world's rst sustainable deposit was launched in 2019 by Standard Chartered to nance the Sustainable Development Goals in Africa, Asia and the Middle East using their Green and Sustainable Product Framework.v Green trade loans nance the purchases of goods and materials to support sustainable Face today > New York City - May 27, 2021 marketFootnote 3 details with us today aligned! Global standards, as we have developed a transition finance Imperative is our commitment to facilitating net! 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