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Stanley ( MS ), and JPMorgan ( JPM ) have recently withdrawn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