Standard Chartered Announces First Green Trade Finance Facility In UAE
As per the latest reports on Sept 13, 2021, Standard Chartered has announced its first green trade finance facility in UAE with an agenda to encourage Amplus Energy Solutions, a subsidiary of Amplus Solar, in its solar generation business. Amplus Solar, a member of the PETRONAS Group, is a distributed energy organization that facilitates low-carbon energy solutions to industrial and commercial clients. This announced sustainable trade finance solution in the UAE by Standard Chartered will enable it to boost: 1. Sustainable goods by coordinating with clients and partners to provide funds for underlying goods that fulfill sustainability standards. 2. Sustainable suppliers by assisting trade for suppliers who fulfill adequate thresholds against ESG ratings or metrics. For example, gender equality, reliable sourcing criteria, and water use. 3. Sustainable end utilization by concentrating on trade financing in sustainable businesses including renewable energy, energy effectivenes...