Rola Abu Manneh, CEO of Standard Chartered UAE-interview
Rola Abu Manneh, CEO of Standard Chartered UAE-interview Group CEO Of Diriyah Company: Transforming Diriyah into a Global Cultural and Tourism Destination
What is Standard Chartered’s sustainability strategy, and how does it align with global sustainability goals such as the United Nations Sustainable Development Goals?
At Standard Chartered, our approach to business revolves around integrating sustainability into all of our decision-making processes. This is central to our day-to-day business, global operations and the communities in which we operate. We aim to promote social and economic development and achieve sustainable results. This is in support of the U.N. SDGs.
What role do you see financial institutions playing in advancing the global climate agenda?
Financial institutions play a pivotal role in advancing the global climate agenda. We act as intermediaries between capital providers and capital users, channeling funds toward projects that align with sustainability goals. By integrating environmental, social and governance considerations into our lending and investment decisions, we can encourage and incentivize responsible practices.
Standard Chartered has made commitments to reach net-zero emissions in its operations by 2025, and in its financing activity by 2050. Could you provide insights into how the UAE branch is working to achieve this goal and the specific measures in place?
Standard Chartered is committed to supporting the UAE’s sustainability agenda. We have a dedicated team in the country that looks after environmental, social, corporate governance and sustainable finance for the region. We are well-positioned to deploy our resources strategically to support the UAE in achieving its net goal by 2050.
What kinds of sustainable finance products and services does Standard Chartered UAE offer to its customers? How do you engage with clients and stakeholders to promote sustainable practices?
Standard Chartered UAE offers a wide range of sustainable finance products and solutions to clients. These include the region’s first conventional sustainable account and the region’s first sustainable Islamic account. These are innovative products offered to large companies, which our clients with the opportunity to contribute to sustainable development while maintaining daily access to its financial resources to meet critical liquidity management needs.
Additionally, we have launched several financing initiatives related to sustainability such as the region’s first sustainable financing facility for Siemens. Moreover, we launched the region’s first sustainable supply chain financing program with Majid Al Futtaim. This is in addition to many bilateral and syndicated loans related to sustainability, structuring green bonds and sukuk as well as other instruments that are ESG friendly.
It’s worth noting that in engaging with clients and stakeholders, we collaborate closely with them to understand their sustainability goals and challenges. We provide insights and expertise on sustainability and ESG issues, including risk assessments and opportunities for improvement. We aim to develop tailored solutions that meet our clients’ financial needs and contribute to their long-term sustainability objectives.
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