Prime Highlights:
- Standard Chartered introduces the UAE’s first escrow and account bank sustainable solution.
- The solution connects client money with proven green and sustainable finance projects.
Key Fact:
- The solution is rolled out in the UAE and the UK, including DIFC, and enables ESG-thematic liquidity.
- It links client money to the bank’s Green and Sustainable Product Framework.
Key Background:
Standard Chartered made a significant leap towards sustainable finance with the launch of the UAE’s first escrow and account bank facility on green finance lines. The new offering gives clients control over liquidity while directly influencing environmentally and socially sustainable projects. By associating escrow or dedicated funds with verified sustainable finance assets, the bank allows business corporations to make an impact through their routine business practices.
The product, which is now accessible in the UAE and the UK, including the Dubai International Financial Centre (DIFC), reflects the increasing demand for ESG-integrated financial products. As a stand-alone escrow agent and account bank, Standard Chartered commits to keeping funds secure and in accordance with its Green and Sustainable Product Framework in order to provide transparency, accountability, and actual sustainability impact.
This launch also claims Standard Chartered’s position of leadership in sustainable transaction banking. The bank has an existing range of ESG-linked products including sustainable trade finance, ESG-linked cash accounts, and sustainable trade loans. The new escrow and account solution adds another layer to this range, enabling clients to incorporate sustainability into their fundamental financial planning.
Sandrine Jourdainne, Global Head of Deposits, Liquidity and Escrow Solutions at Standard Chartered, highlighted the UAE’s pledge towards creating a low-carbon economy. She described how this revolutionary banking solution is addressing the needs of clients for authentic sustainability practices and also regional and global sustainability agendas.
With this launch, Standard Chartered not only introduces a region-first solution but also deepens its wider purpose to enable sustainable growth. The offer gives corporate clients a useful, meaningful means of connecting their treasury function to ESG aspirations, further supporting the UAE’s sustainability agenda and reaffirming the bank’s long-term value on sustainable banking.
