Bank sustainability chiefs are paid the most, NGO execs the least. SINGAPORE and REDMOND, Wash. Aug. 11, 2020 Standard Chartered Bank and Microsoft Corp. on Tuesday announced a three-year strategic partnership to accelerate the banks digital transformation through a cloud-first strategy. This finding implies that, on average, companies adopted an increasingly similar set of sustainability practices during the sample period, raising the possibility that they are becoming common practices and, as such, are less likely to serve as a strategic differentiator and more likely to be a strategic necessity. Drew joins in the same month thatTracy Wong Harris was appointed to lead StanCharts Hong Kong-based Asia sustainable finance team. Microsoft Media Relations, WE Communications for Microsoft, (425) 638-7777, [emailprotected], Julie Gibson, Standard Chartered, [emailprotected]. The Bank has also announced plans to mobilise USD300 billion in green and transition finance by 2030. We look. Show publisher information To what extent have firms in recent years converged in their adoption of sustainability practices? StanCharts sustainability commitments include working on a taskforce to set standards for global carbon markets, which is chaired by Bill Winters, StanCharts chief executive. The banks own target-setting shows mixed success. Over half of those surveyed (53%) say that their organisation does not fully support the aims of the Paris Agreement. Standard Chartered brings a new set of challenges. One of the things that would help would be to have a transition taxonomy.. In the context of the fast-moving sustainability reporting space, characterized by various voluntary initiatives and no alignment around one global approach, Standard Chartered strives to both understand and inform market practice, with the ultimate aim to produce comparable and standardized information that enables decision making by investors and other stakeholders. Before joining Credit Suisse, Drew worked for Merrill Lynch and Kidder Peabody. As of 2019, Standard Chartered have reportedly met 93.1 . Global awareness of environmental and social trends to examine and detect trends at industry / regional level. We work to prepare a future-ready accounting profession. Around the world, women past and present have madeand continue to makecritical contributions to drive technology, innovation, and our society forward. [Online]. New York, New York 10017. But the data suggests that some companies are creating real strategic advantage by adopting sustainability measures their competitors cant easily match. Using core competencies Standard Chartered's sustainability strategy is very much designed around its core business skills and knowledge. For Standard Chartereds most senior sustainability bankers, the findings of the report were no surprise and validate the view that bank financing alone will not be enough. You have used up all of your free articles on FinanceAsia. His research focuses on corporate sustainability and the strategic integration of ESG issues . 7+ years' experience in banking, processes and products. <br><br>This includes developing and tapping on a strong understanding of the political, regulatory, and policymaking conditions in these . Any person accessing this site agrees to the Terms of Use and Privacy Policy. Standard Chartered. (e in b.c))if(0>=c.offsetWidth&&0>=c.offsetHeight)a=!1;else{d=c.getBoundingClientRect();var f=document.body;a=d.top+("pageYOffset"in window?window.pageYOffset:(document.documentElement||f.parentNode||f).scrollTop);d=d.left+("pageXOffset"in window?window.pageXOffset:(document.documentElement||f.parentNode||f).scrollLeft);f=a.toString()+","+d;b.b.hasOwnProperty(f)?a=!1:(b.b[f]=!0,a=a<=b.g.height&&d<=b.g.width)}a&&(b.a.push(e),b.c[e]=!0)}y.prototype.checkImageForCriticality=function(b){b.getBoundingClientRect&&z(this,b)};u("pagespeed.CriticalImages.checkImageForCriticality",function(b){x.checkImageForCriticality(b)});u("pagespeed.CriticalImages.checkCriticalImages",function(){A(x)});function A(b){b.b={};for(var c=["IMG","INPUT"],a=[],d=0;d