Standard Chartered: Sustainability Key to Bank's Growth
Standard Chartered's 2024 Annual Report reveals that sustainability initiatives can successfully align with business growth objectives.
Group Chairman Dr José Viñals emphasises in the report: "Our growth must be achieved in a strong, safe and sustainable manner, whilst maintaining both cost and capital discipline. This led to an improvement in our return on tangible equity reaching 11.7%, which sets a notable milestone for us ahead of our 2026 target of approaching 13%."
He adds: "When combined with income growth of 14% on a constant currency basis, it becomes clear that our underlying business is connected to meaningful opportunities across our markets."
Financial Performance and Strategic Focus
The bank reports strong financial results, achieving an 11.7% return on tangible equity (RoTE). This success stems from its strategic focus on high-growth markets and its position as a "super connector" across global trade and investment corridors.
Standard Chartered's approach combines cross-border capabilities with wealth management expertise, supported by its "here for good" brand promise. This strategy enables the company to effectively connect established and emerging corridors of trade, investment, and wealth.
Group Chief Executive Bill Winters states: "Our leading sustainability capabilities are an integral part of our client offering across all our business segments and the Group as a whole.
"This year, we also demonstrated our commitment to protecting and restoring nature by becoming an early adopter of the Taskforce on Nature-related Financial Disclosures."
Winters also highlights the bank's environmental initiatives: "Building on our ambition to shift financial flows towards nature-positive outcomes, we partnered with the Government of The Bahamas, The Nature Conservancy, the Inter-American Development Bank and other financial partners to launch an innovative debt conversion, expected to generate US$124m for marine conservation."
Sustainability Integration
The bank recognises the importance of addressing critical societal challenges such as climate change, inequality, and globalisation inequities.
Standard Chartered integrates ESG considerations throughout its decision-making processes and operations, providing stakeholders with clear insights into sustainability-related risks and opportunities.
The report outlines the organisation's core values:
- Do the right thing
- Never settle
- Better together
Standard Chartered monitors its progress against various financial and non-financial key performance indicators. The bank has mobilised US$121bn in sustainable finance, representing a US$34bn increase from 2023.
Chief Sustainability Officer Marisa Drew commented on LinkedIn: "Our full-year 2024 results demonstrate that our strategy of combining differentiated cross-border capabilities with leading wealth management expertise continues to deliver, and sustainability is an integral part of this.
"As our strategy sets out, sustainability is a central part of our client offering across our business and the numbers speak for themselves."
Global Community Engagement
Operating in 53 markets across dynamic regions including Asia, Africa, the Middle East, Europe, and the Americas, Standard Chartered's geographic reach enables it to connect high-growth and emerging markets with established economies, directing capital where it's most needed.
The bank's marathon series, with events in cities from Shanghai to Nairobi, leverages its global network to connect communities worldwide.
In 2024, Standard Chartered launched its 10th race in this global portfolio—the Standard Chartered Hanoi Marathon Heritage Race—commemorating its 120-year presence in Vietnam. More than 244,000 people participated in these marathons throughout 2024.
Explore the latest edition of FinTech Magazine and be part of the conversation at our global conference series, FinTech LIVE.
Discover all our upcoming events and secure your tickets today.
FinTech Magazine is a BizClik brand
