Standard Chartered PLC
Climate Impact & Sustainability Data (2022)
Reporting Period: 2022
Environmental Metrics
Total Carbon Emissions:60,770,305 tCO2e (includes Scope 1, 2, and 3)
Scope 1 Emissions:2,071 tCO2e
Scope 2 Emissions:47,363 tCO2e
Scope 3 Emissions:60,720,871 tCO2e (includes financed emissions)
Renewable Energy Share:12% of total energy use
Total Energy Consumption:177.3 GWh
Waste Generated:19.2 kg/employee
ESG Focus Areas
- Climate Change
- Diversity & Inclusion
- Sustainable Finance
- Financial Inclusion
- Responsible Business Conduct
Environmental Achievements
- Reduced Scope 1 and 2 emissions by more than 42% to 49,434 tonnes in 2022.
- Reduced overall waste by 37% and waste per employee by 39% to 19.2kg.
- Mobilized $23.4 billion in sustainable finance in 2022, bringing the cumulative total to $48 billion since 2021.
- Launched green mortgages in three new markets.
Social Achievements
- Women in senior roles increased to 32.1% in 2022.
- Futuremakers program worked with over 335,000 young people in 2022.
- Launched Trust Bank in Singapore, gaining 450,000 customers in five months.
- Launched Solv, an e-commerce marketplace for SMEs, serving over 230,000 customers in 2022.
Governance Achievements
- Board diversity improved with four new independent non-executive directors appointed.
- Completed an externally facilitated effectiveness review of the Board and its committees.
- Increased full-year ordinary dividend to 18 cents per share (50% increase).
- Announced a $1 billion share buy-back program.
Climate Goals & Targets
Long-term Goals:
- Achieve net zero in financed emissions by 2050.
Medium-term Goals:
- Mobilise $300 billion in sustainable finance by 2030.
- Reduce absolute financed thermal coal mining emissions by 85% by 2030.
- Achieve net zero in own operations by 2025.
Short-term Goals:
- Reduce water consumption by 90% by 2025
- Reduce emissions related to Upstream transportation and distribution and Business travel by 28% against 2019 levels by 2023.
- Achieve $1 billion of Sustainable Finance income by 2025.
Environmental Challenges
- Challenges in China's commercial real estate sector.
- Sovereign risk in several markets (Sri Lanka, Ghana, Pakistan).
- Subdued Wealth Management performance due to market volatility and COVID-19 restrictions.
- Inflationary pressures across footprint markets.
Mitigation Strategies
- Disciplined expense management and cost savings.
- Risk-weighted assets down $20 billion since 31 December 2021.
- Strategic review of Aviation Finance business.
- Refocusing resources in Africa and Middle East to markets with greatest scale and growth potential.
Supply Chain Management
Supplier Audits: All new and renewing material third-party corporate services arrangements in-scope for Business Continuity Management controls are subject to climate risk assessment.
Responsible Procurement
- Supplier Charter outlining aspirations in ethics, human rights, D&I, and environmental performance.
Climate-Related Risks & Opportunities
Physical Risks
- Flooding
- Sea-level rise
- Extreme weather events
Transition Risks
- Changes in energy prices
- Reduced demand for high-carbon products
- Increased carbon penalties
Opportunities
- Growth in sustainable finance
- Investment in low-carbon technologies
Reporting Standards
Frameworks Used: GRI, SASB Standards, World Economic Forum Stakeholder Capitalism Metrics framework, TCFD
Third-party Assurance: Global Documentation Ltd (for Scope 1 and 2 emissions, waste, and water consumption)
UN Sustainable Development Goals
- Goal 7 (Affordable and clean energy)
- Goal 13 (Climate action)
Initiatives contribute to these goals through sustainable finance, emissions reduction, and support for renewable energy.
Sustainable Products & Innovation
- Sustainable deposits
- Green mortgages
- Sustainable investments
- Carbon-neutral cards
- ESG structured products
Awards & Recognition
- Forbes World’s Best Employers
- Financial Times Diversity and Inclusion Leader
- Refinitiv Diversity and Inclusion Index
- Bloomberg Gender-Equality Index