Financial institution Standard Chartered introduces the initial sustainable escrow and account banking solution in the United Arab Emirates.
Standard Chartered, a leading international bank, has announced the launch of a new Sustainable Escrow and Account Bank solution in the UAE and the UK. This innovative offering is part of the bank's efforts to expand its sustainable transaction banking offerings and respond to rising client demand for responsible finance tools.
The solution, which operates as an independent Escrow Agent and Account Bank, is focused on impact-driven innovation. It links funds held in escrow or designated accounts directly to the bank’s portfolio of verified green and sustainable loans and projects, as defined under its Green and Sustainable Product Framework. This approach allows clients to embed sustainability into their cash management by earmarking their liquidity against eligible ESG (environmental, social, and governance) initiatives.
By aligning client funds with projects that advance climate and environmental objectives, the solution supports the transition to a low-carbon economy. It assists businesses in meeting their sustainability commitments by providing a credible mechanism to link their cash deposits to real-world positive environmental impacts. The solution complements Standard Chartered's broader suite of ESG-related financial products.
Sandrine Jourdainne, the Global Head of Deposits, Liquidity, and Escrow Solutions at Standard Chartered, said, "Our new Sustainable Escrow and Account Bank solution is a testament to our commitment to sustainability and impact-driven innovation. It offers businesses an opportunity to contribute to climate and environmental goals while maintaining robust financial operations."
The solution is available in the UAE, including within the Dubai International Financial Centre (DIFC), and in the UK. It contributes to climate and environmental goals by ensuring funds deposited are tied to verified green and sustainable projects, offering enhanced transparency and accountability to clients on the sustainability impact of their liquidity, and supporting the UAE's commitment to sustainability and transition to a low-carbon economy through innovative, impact-driven banking solutions.
[1] Standard Chartered Press Release: [Link to Press Release] [2] Standard Chartered Green and Sustainable Product Framework: [Link to Framework] [3] Dubai International Financial Centre: [Link to DIFC] [4] UK Financial Conduct Authority: [Link to FCA] [5] United Nations Sustainable Development Goals: [Link to SDGs]
- This innovative Sustainable Escrow and Account Bank solution launched by Standard Chartered aims to expand its sustainable transaction banking offerings, responding to the increasing demand for responsible finance tools in the economy.
- The solution, operating as an independent Escrow Agent and Account Bank, focuses on impact-driven innovation, linking funds held in escrow or designated accounts to the bank's portfolio of verified green and sustainable loans and projects.
- By aligning client funds with projects that advance climate and environmental objectives, the solution supports the transition to a low-carbon economy and helps businesses meet their sustainability commitments.
- Sandrine Jourdainne, the Global Head of Deposits, Liquidity, and Escrow Solutions at Standard Chartered, stated that the solution demonstrates the bank's commitment to sustainability and impact-driven innovation, offering businesses an opportunity to contribute to climate and environmental goals while maintaining robust financial operations.
