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STANDARD CHARTERED PLC

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Standard Chartered : We've executed our first ESG-linked derivative

05/03/2021 | 06:00pm EDT

First commodity-linked derivative to ESG performance of Trafigura

Singapore, London - Standard Chartered announced today that it has priced its first commodity hedge linked to Environmental, Social and Governance (ESG) benchmarks with Trafigura, a leading commodity trading client.

The transaction involves combining conventional derivatives risk management with sustainability-linked key performance indicators (KPIs) that are linked to reducing greenhouse emissions - from owned or controlled sources - and to sustainable sourcing in the base metals business.

This transaction is structured to offer a premium or discount to Trafigura on their hedging rate based on fulfilling the pre-agreed ESG KPIs, which are independently monitored and reported on regular basis by a leading third-party provider, ERM Certification and Verification Services.

Chin Hwee Tan, CEO of Trafigura, Asia-Pacific, said: 'We are committed to embed sustainability in our day-to-day operations in a consistent and coherent way. A key pillar of our responsible business practices involves minimising adverse impacts on the natural environment. This sustainability goals-linked derivative transaction with Standard Chartered is an important step forward on our journey.'

Sharad Desai, Global Head of Financial Markets Sales at Standard Chartered, said: 'We are committed to getting capital to where it is needed to help our clients achieve their sustainability goals, and ESG-linked derivatives are among a number of solutions that we offer them. We're proud to structure this first ESG-linked derivative transaction for Trafigura to help them execute both on risk management and sustainability targets.'

For further information please contact:

Josephine Wong
Standard Chartered Bank
+65 6596 4690
josephine.wong@sc.com

Shaun Gamble
Standard Chartered Bank
shaun.gamble@sc.com

Disclaimer

Standard Chartered plc published this content on 04 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 May 2021 14:57:01 UTC.


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