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Standard Chartered lays out detailed net zero transition plan
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Standard Chartered lays out detailed net zero transition plan
Feb 27, 2025 3:25 AM

Feb 27 (Reuters) - Standard Chartered ( SCBFF ) on

Thursday disclosed a detailed plan outlining its integration of

climate considerations into its business operations, aiming for

net zero targets across its financing activities by 2050 and its

operations by 2025.

The plan comes a few days after the bank pledged to continue

its net-zero strategy and reduce emissions associated with the

bonds it sells for oil and gas industries, unlike other big

lenders who are reevaluating their climate plans.

Major global banks such as Bank of America ( BAC ), Morgan

Stanley ( MS ), and JPMorgan ( JPM ) have recently withdrawn

from the Net-Zero Banking Alliance (NZBA), one of the leading

climate coalitions in the banking sector.

Standard Chartered ( SCBFF ), though, continues to be a part of the

alliance, which currently consists of 135 banks across 44

countries, as per the alliance's website.

The company's transition plan mainly targets Standard

Chartered's ( SCBFF ) significant emissions, referred to as the bank's

financed emissions, which are associated with high-emitting

clients.

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