"First Sustainable Escrow and Account Bank Service Debuts in UAE by Standard Chartered"
Standard Chartered Launches UAE's First Sustainable Escrow and Account Bank Solution
Standard Chartered, a leading international bank, has introduced the UAE's first Sustainable Escrow and Account Bank solution. This innovative service allows clients to hold funds in escrow or designated accounts that are linked directly to the bank's portfolio of verified green and sustainable loans and projects 14.
The service is based on Standard Chartered's Green and Sustainable Product Framework and is available across the UAE, including the Dubai International Financial Centre (DIFC), as well as in the UK. This offering is part of Standard Chartered's broader move towards sustainable banking solutions 14.
By embedding sustainability into cash management, clients can ensure that their funds are earmarked against eligible Environmental, Social, and Governance (ESG) initiatives. Acting as an independent Escrow Agent and Account Bank, Standard Chartered guarantees transparency, accountability, and confidence for clients in meeting their sustainability objectives 14.
This solution offers a credible and practical way for clients to align their liquidity with meaningful environmental and social impact, supporting their transition to a low-carbon economy. The service is designed to help businesses reinforce their environmental commitments and responds to rising client demand for responsible finance tools 14.
The Sustainable Escrow and Account Bank solution is just one part of Standard Chartered's broader suite of ESG-driven transaction banking services. These include ESG-linked cash accounts, sustainable trade finance, and sustainable trade loans for financial institutions. This initiative supports the UAE’s sustainability vision and climate goals, enabling clients to channel funds securely into projects with real-world positive impacts while managing financial and sustainability risks effectively 13.
In summary, this solution connects client funds in escrow or secured accounts to a portfolio of sustainable projects, providing enhanced transparency and assurance that funds support ESG initiatives. It supports clients' sustainability commitments by integrating ESG considerations into financial operations and expands the bank’s sustainable transaction banking capabilities in the UAE market 14.
Sandrine Jourdainne, the bank’s Global Head of Deposits, Liquidity and Escrow Solutions, emphasized that this offering empowers clients to meet both financial and sustainability goals through secure and transparent mechanisms 14. This service is now available in multiple locations, including the UAE and the UK.
Standard Chartered's solution reinforces its commitment to impact-driven innovation in sustainable banking, reflecting its efforts to expand its sustainable transaction banking offerings 14. This launch is a significant step towards a more sustainable future, demonstrating the bank's dedication to supporting its clients in their journey towards a low-carbon economy.
- The Sustainable Escrow and Account Bank solution from Standard Chartered is part of the bank's broader move towards sustainable banking solutions, allowing clients to hold funds linked directly to green and sustainable loans and projects.
- By embedding sustainability into cash management, clients can ensure their funds are earmarked against eligible Environmental, Social, and Governance (ESG) initiatives and act as an independent Escrow Agent and Account Bank, promoting transparency and accountability.
- This solution supports businesses in reinforcing their environmental commitments and responds to rising client demand for responsible finance tools, offering a credible and practical way for clients to align their liquidity with meaningful environmental and social impact.
- Standard Chartered's solution supports the UAE's sustainability vision and climate goals, enabling clients to channel funds securely into projects with real-world positive impacts while managing financial and sustainability risks effectively.
- This initiative expands Standard Chartered's sustainable transaction banking capabilities in the UAE market and reflects its commitment to impact-driven innovation in sustainable banking, demonstrating its dedication to supporting its clients in their journey towards a low-carbon economy.
