Standard Chartered & Ant Group's Green Partnership
Standard Chartered PLC
Standard Chartered and Ant Group have solidified their collaboration through an agreement aimed at fostering green and inclusive finance, global fund management, and sustainable development.
The partnership will be instrumental in addressing pressing global concerns, such as climate change and the protection of our oceans. The formal agreement signing ceremony was presided over by Dr. José Viñals, Group Chairman of Standard Chartered PLC, and Eric Jing, Chairman and CEO of Ant Group.
An initial Memorandum of Understanding (MOU) signed in 2017 laid the groundwork for this partnership, which has enabled extensive cooperation between Standard Chartered and Ant Group in China and numerous other markets around the world.
The two entities have already achieved significant strides in green and sustainable finance, with Standard Chartered playing a key role as a joint-mandated lead arranger and bookrunner for Ant Group's sustainability-linked syndicated loan.
Additionally, collaborations in sustainable deposits and other domains have been fruitful. They have also joined forces to drive digital innovation in global fund management and expand inclusive finance for small and medium-sized enterprises (SMEs).
In this expanded cooperation framework, Standard Chartered commits to supporting Ant Group in establishing a world-class global liquidity and foreign exchange management structure. The partnership will further strengthen their joint efforts in environmental, social, and governance (ESG) initiatives, digital innovation, and promoting inclusive finance.
Dr. José Viñals, Group Chairman, Standard Chartered PLC, expressed his honour in entering into this extended agreement, emphasising the shared vision and mutual commitment to global cooperation in ESG, inclusive finance for SMEs, and digital innovation.
Eric Jing, Chairman and CEO of Ant Group, expressed his delight in the long-term partnership with Standard Chartered and highlighted their joint dedication to utilising technology for the digital transformation of SMEs and advancing global sustainable and inclusive development.
The collaborative efforts, together with their ecosystem partners, are expected to unlock the potential of digital technology, green finance, and inclusive finance, leading to greater contributions towards global sustainable development.
Overall, the strengthened alliance between Standard Chartered and Ant Group promises to make a substantial impact on the world, not only through financial services but also by driving positive change in environmental and societal spheres.
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Source: Ant Group