Standard Chartered has executed its first green banker's guarantee in Singapore, issued under the bank's sustainable trade framework.
The guarantee was for ENGIE, a French electric utility company appointed by JTC Corporation to build, own and operate an underground district cooling system for the Punggol Digital District.
"This demonstrates Standard Chartered’s ability to partner with our clients in achieving their sustainability goals as we seek to move the needle on progressing both the Bank and corporates’ sustainability agenda," says Patrick Lee, the bank's cluster CEO for Singapore & Asean markets.
"The private sector has a big role to play in advancing Singapore’s sustainability journey and Standard Chartered looks forward to working with more companies to realise our collective green ambition,” Lee adds.
"It is pivotal to see our most sustainable projects benefit from specific financing conditions. We are pleased to have brought this issuance to fruition through close collaboration with Standard Chartered," says Thomas Baudlot, CEO of ENGIE South East Asia.
Photo: Bloomberg
