Standard Chartered | 25 October 2018
We remain committed to promoting sustainable practices in these sectors, while supporting economic growth and prosperity.
While the Group voluntarily adheres to these non-legally binding position statements, they reflect our aspiration to apply these principles consistently and to conduct our business with the highest standard of ethics and integrity. All staff are required to adhere to the position statements and endeavour to achieve these goals in line with our Group Code of Conduct and to live up to our brand promise of Here for good.
This position statement reflects the sector-specific criteria we assess our clients against when considering providing financial services to Agro-Industries.
Agribusiness refers to the cultivation, processing and distributing of products from agriculture including livestock, meat and dairy products, growing biofuels, soy, cotton, rubber, cocoa.
Tobacco refers to upstream tobacco growers and processors; and downstream tobacco leaf traders and product manufacturers.
Fisheries refers to the catching, processing, or selling of fish, shellfish or other aquatic animals for direct consumption or leisure purposes; and aquaculture.
Forestry refers to the cultivation and felling of trees, and downstream users involved in the milling of timber for pulp, paper, sawn timber and veneer, and operations which process, distribute and use products from forests such as timber and paper.
Palm Oil refers to palm oil plantations and mills, scheme smallholders, independent small holders, and palm oil refiners and related traders.
As a key part of our mission to be Here for good, we only provide financial services to clients who manage their environmental and social impacts responsibly. The sector-specific criteria in this position statement, along with those in the cross-sector requirements set out the standards we assess our clients against.
We regularly engage with our clients to confirm that they’re aligned with our environmental and social requirements, and consult with industry experts to ensure these stay relevant and effective.
We will not provide financial services directly towards:
We will only provide financial services to clients who:
We expect clients to:
We encourage clients to:
We will only provide financial services to clients who:
We will not provide financial services to clients who:
We will only provide financial services to clients who:
We expect clients to:
We will not provide financial services to clients who:
We will only provide financial services to clients:
We expect clients to:
1 Equivalent scheme: a recognised verification system for legality and sustainability, as defined by the GFTN Guide to Legal and Responsible Sourcing.
2 High-risk countries: Bolivia, Brazil, Cambodia, Cameroon, Central African Republic, China, Colombia, Cote d’Ivoire, Democratic Republic of Congo, Ecuador, Equatorial Guinea, Estonia, Gabon, Ghana, Guatemala, Guyana, Honduras, India, Indonesia, Laos, Latvia, Liberia, Lithuania, Madagascar, Malaysia, Mexico, Mozambique, Myanmar, Nicaragua, Panama, Papua New Guinea, Peru, Republic of Congo, Russia, Solomon Islands, Thailand, Uganda, Vietnam, and clients stating the product origin as “unknown”.
3Low-risk countries: All other countries not listed as ‘high-risk countries’.
We will not provide financial services to clients who:
We will only provide financial services to clients who:
We expect clients to:
We encourage clients to: