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ESG meets everyday banking  MENA

ESG meets everyday banking  

For those of you who think corporate companies are greenwashing everything, the news of Standard Chartered (STAN) launching sustainable accounts in the UAE may be pushed aside with a hint of irritation. However, this time we’re not talking about a PR stunt to persuade the public to buy a particular product or service. Instead, we’re talking about actual money being spent to address issues such as climate change and financial exclusion. 

Abu Dhabi-based Aldar Properties will be the first entity to participate in Standard Chartered’s Green and Sustainable Product Framework. The program was developed following the UN’s Sustainable Development Goals — and the bank’s sustainable accounts will fund those goals.

why it matters

Standard Chartered's sustainable accounts will be launched in the UK next — in early 2022. Thereafter, it'll launch them in other countries too, depending on their popularity (ESG aside, we guess supply has got to cater to demand!).