/sustainable

News and resources on ESG data and technology, Impact Investing and Sustainable Finance initiatives and best practices.

Standard Chartered links interest rates and fees to clients' ESG performance

Standard Chartered has launched a new ESG-linked Cash Account for corporate banking clients that rewards them for meeting material environmental, social and governance related targets.

Be the first to comment

Standard Chartered links interest rates and fees to clients' ESG performance

Editorial

This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.

The new account links the credit balance interest rate and/or fee pricing in relation to the Cash Account with the client’s ESG-related performance. The bank says the selected key performance indicators must be material and relevant to the client’s business, and the associated targets must be ambitious when compared to an external benchmark, peers and/or the client’s previous performance.

The ESG-linked account, which sits alongside a suite of other sustainable-based accounts from Standard Chartered's transaction banking business, will be launched in Hong Kong and Singapore as pilot sites, with roll-out to further markets expected in due course.

“As companies move from ambition to execution on sustainability, banks play an important role in enabling and motivating them on this journey,” says Mahesh Kini, global head of cash management at Standard Chartered. “The launch of our ESG-linked Cash Account is another testament to our commitment to offer our clients solutions that empower them to meet both their treasury and sustainability goals.”

Sponsored [Webinar] Payment Scams and Fraud: Changing Bank Behaviour and Regulatory Frameworks

Comments: (0)

[New Whitepaper] APIs, Automation, and AI: An Arsenal to Defend Against Card Transaction FraudFinextra Promoted[New Whitepaper] APIs, Automation, and AI: An Arsenal to Defend Against Card Transaction Fraud