Source: Standard Chartered Bank
This paper describes our approach to net zero. It lays out the methodology we have used to calculate our emissions and to set our emissions reduction targets at sector level. It also describes the challenges and choices we have faced, and how we have chosen to resolve them.
Our approach reflects our belief that climate change is one of the greatest challenges facing the world today, and that its impact will hit hardest in the markets where we operate. Many of these are currently reliant on carbon-intensive industries for their continued economic growth.
Achieving a just transition – one where climate objectives are met without depriving developing countries of their opportunity to grow and prosper – will require capital and specialised support. We are uniquely placed to help by directing capital to markets that have both the greatest opportunity to adopt low carbon technology, and some of the toughest transition-financing and climate challenges.
We hope that by setting out this methodology transparently, we can encourage discussion, engagement, and debate. We welcome comments and input, and would invite other financial institutions operating in similar markets to use this methodology to help shape their own approach.