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StanChart commits £57.5 billion toward sustainable development goals

Reuters
·1-min read
businessA logo of Standard Chartered is displayed at its main branch in Hong Kong

LONDON (Reuters) - Standard Chartered <STAN.L> on Tuesday said it will provide $75 billion(£57.5 billion) in financing by 2024 towards sustainable development and clean energy projects, as it expands on its aspirations to support the Paris Agreement on climate change.

The bank said it is also targeting net zero emissions from its own network of branches and offices by 2030.

The move comes amid a broader shift among financial firms worldwide to tackle their role in funding fossil fuel projects, as public concern grows about the climate crisis.

(Reporting By Lawrence White; editing by David Evans)