STANDARD CHARTERED PLC.
STAN.LSE | Other monetary intermediation
Standard Chartered PLC is a multinational banking and financial services company. It provides a range of financial products and services to individuals, small and medium-sized enterprises (SMEs), and large corporations. These services include retail banking, commercial banking, corporate and institu...Show More
Better Health for All
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Standard Chartered's core banking services are health-neutral. The company allocates approximately 2.25% of its USD 23.3 billion sustainable finance asset portfolio (as of September 2024) to health improvement initiatives.
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This includes USD 229.349 million for healthcare infrastructure
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, USD 95.294 million for supporting healthcare products and services
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, EUR 171 million for medical clinics in Côte d’Ivoire
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, and USD 14.388 million for food security projects.
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The company's operations generate substantial positive health externalities, with 4.06 million tonnes of CO2 emissions avoided
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and 18.5 million m3 of clean water supplied annually
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, providing access to approximately 100,000 people in Angola.
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Additionally, Standard Chartered provides comprehensive employee wellbeing programs, including digital platforms, mental health first aiders, and flexible working arrangements, promoting mental and physical health in the workplace.
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Fair Money & Economic Opportunity
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No specific, quantifiable data points were found in the provided articles that directly align with the quantitative thresholds for any of the KPIs under the 'Fair Money & Economic Opportunity' value. Information regarding percentages of underserved clients, average APRs, revenue from high-cost products, share of loan book for inclusion initiatives, customer data portability, fair lending compliance findings, wealth building outcomes for a percentage of users, profit reinvestment in community finance, financial literacy reach as a percentage of customers, customer debt-to-income ratios, geographic inclusion in underserved areas, or product simplicity metrics was not explicitly provided.
Fair Pay & Worker Respect
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In 2023, 87% of Standard Chartered's employees agreed that the bank met or exceeded their expectations as an employer.
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The company is committed to paying a living wage in all its markets, systematically monitoring wages against living wage thresholds and making monetary interventions as needed in 2023.
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Its Fair Pay Charter emphasizes equal pay for equal work and non-discriminatory compensation.
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Standard Chartered updated its Human Rights Position Statement in 2024, aligning with UN Guiding Principles and ILO Declaration, and its Supplier Charter and Modern Slavery Statement prohibit modern slavery, human trafficking, and child labor.
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The company received a perfect score on the Human Rights Campaign Foundation’s 2023-2024 Corporate Equality Index for LGBTQ+ workplace equality for five consecutive years.
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In December 2023, women held 32.5% of senior leadership roles, with a target of 35% by 2025.
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Standard Chartered US was recognized as one of the '2023 Best Companies for Multicultural Women'.
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The company offers 20 weeks of fully paid parental leave and flexible working arrangements, with 79% of staff reporting effective work-life balance in 2023.
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Fair Trade & Ethical Sourcing
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Standard Chartered, as a financial services company, does not procure or trade physical commodities, making the fair trade certification share N/A for its direct spend.
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While the company has a Supplier Diversity & Inclusion Standard outlining minimum requirements for all suppliers
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and is committed to increasing diversity in its supply chain
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, no specific percentage of its procurement budget directed to diverse suppliers is provided.
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Similarly, there is no quantitative data on the frequency of supplier audits
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, the number of forced or child labor incidents within its supply chain
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, the traceability coverage of its suppliers
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, the median time to close corrective action plans
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, or the share of spend on high-risk materials.
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Honest & Fair Business
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Standard Chartered US achieved a score of 100 on the Human Rights Campaign Foundation's Corporate Equality Index in December 2023, marking its fifth consecutive year of recognition for LGBTQ+ workplace equality.
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The bank reported an increase in bribery and corruption reports, receiving 62 in 2021 compared to 42 in 2020.
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Investigations found evidence in 28 of these cases, leading to disciplinary actions against 10 employees.
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No public legal cases involving allegations of corruption were brought against the bank or its employees during 2021.
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The bank also emphasizes payment transparency and collaborates with industry bodies and regulators to share best practices in combating financial crime.
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Kind to Animals
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Standard Chartered has strengthened its animal welfare policies, prohibiting financial services for clients involved in degrading High Conservation Value areas, using fire for land clearance, and using certain hazardous pesticides
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. The bank also prohibits financing for producers using gestation and farrowing crates for sows
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, bans exotic leather, fur, and angora wool
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, and requires clients to adhere to ethical guidelines in transportation and slaughter practices
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. It promotes responsible use of antibiotics in aquaculture
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and encourages clients to avoid prophylactic antibiotic use unless necessary
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. The FARMS Initiative recognized Standard Chartered for strengthening its animal welfare policies and promoting confinement-free animal production
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. A 2023 report by World Animal Protection UK noted Standard Chartered's stronger commitment to animal welfare and more proactive approach compared to its peers
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. The company has urged global cooperation to end live wildlife markets and high-risk wildlife trade, embed wildlife crime in the UN Convention against Transnational Organized Crime, and enhance resources to combat wildlife trafficking
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. However, a 2021 report revealed the bank's involvement in financing deforestation for cattle and soya production, leading to animal cruelty and carbon emissions, with up to $98 billion invested since 2015
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No War, No Weapons
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Standard Chartered provided $2.289 billion in financial services to nuclear weapons producers, including Boeing, Honeywell, and Rolls-Royce, from 2022 to 2024.
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The bank has a Defence Goods Policy that prohibits support for nuclear, biological, or chemical weapons manufacturing or distribution.
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However, this policy applies a 20% threshold to annual defense turnover, which limits exclusion based on defense-derived revenue.
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The company also committed to respecting human rights across its operations, guided by the UN Guiding Principles on Business and Human Rights.
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Planet-Friendly Business
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Standard Chartered achieved 77% renewable electricity use and a 61% waste diversion rate by 2024.
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The bank aims for net zero emissions in its operations by 2025
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and in its financed emissions by 2050,
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supported by a comprehensive roadmap with interim targets.
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It reported a 34% reduction in Scope 2 emissions
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and expanded Scope 1 reporting to its vehicle fleet.
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The company has pledged to mobilize $300 billion in sustainable finance by 2030,
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having reached $121 billion by the end of 2024,
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including a $235 million green loan for a solar manufacturing plant in August 2024.
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Interim 2030 financed emissions reduction targets include 29% for oil & gas, 63% for power generation, and 67% for automotive manufacturing.
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Challenges in sourcing 100% renewable energy led to the use of carbon offsets.
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In early 2025, the sustainability team was restructured to 90 members.
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Respect for Cultures & Communities
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Standard Chartered has a policy, updated in 2018
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and reaffirmed in January 2024,
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to not provide financial services to clients whose operations adversely impact UNESCO World Heritage Sites, Ramsar Convention wetlands, or convert/degrade High Conservation Value forests, High Carbon Stock forests, or peatlands.
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Despite this, in May 2024, environmental activists and shareholders criticized the bank for financing fossil fuel projects in the Philippines and Mozambique, alleging forced displacement of communities and destruction of natural ecosystems.
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Additionally, in February 2024, a complaint was lodged against the bank for financing coal-fired power plants in the Philippines, which allegedly led to forced evictions, loss of livelihoods, and health issues for local communities.
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These criticisms and complaints indicate reactive responses to cultural and community-related controversies.
Safe & Smart Tech
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Standard Chartered has a formal Responsible AI Standard and Framework guiding ethical AI deployment, emphasizing principles of fairness, ethics, transparency, and bias mitigation
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. The bank's Privacy Standard aligns with GDPR to manage privacy risks
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. Furthermore, Standard Chartered has implemented AI-driven systems that have reduced regulatory breaches by 40%
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, enhancing compliance monitoring and fraud detection
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Zero Waste & Sustainable Products
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By 2023, Standard Chartered recycled 97% of its generated waste.
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The company also reduced its paper usage by 42% by 2023.
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