A new batch of industry associations has been uploaded onto the InfluenceMap system and the relationship scores recalculated accordingly.
We adjusted the terminology used to describe the queries running down the left-hand side of our scoring matrix and added additional explanatory text to the info-boxes. This has no impact on the scores and methodology. It has been done following user feedback to improve clarity.
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Clare Francis is on the AFME board
Clare Francis (Standard Chartered Chief Executive Officer, UK & Regional Head of Global Banking, Europe)
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Standard Chartered is a member of AFME
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Clare Francis is on the AFME board
Clare Francis (Standard Chartered Chief Executive Officer, UK & Regional Head of Global Banking, Europe)
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Standard Chartered is a member of AFME
In this section, we depict graphically the relationships the corporation has with trade associations, federations, advocacy groups and other third parties who may be acting on their behalf to influence climate change policy. Each of the columns above represents one relationship the corporation appears to have with such a third party. In these columns, the top, dark section represents the strength of the relationship the corporation has with the influencer. For example if a corporation's senior executive also held a key role in the trade association, we would deem this to be a strong relationship and it would be on the far left of the chart above, with the weaker ones to the right. Click on these grey shaded upper sections for details of these relationships. The middle section contains a link to the organization score details of the influencer concerned, so you can see the details of its climate change policy influence. Click on the middle sections for for details of the trade associations. The lower section contains the organization score of that influencer, the lower the more negatively it is influencing climate policy.
Open PDF file of Data Source
Standard Chartered appears to have had some broadly positive engagement on sustainable finance policy. Standard Chartered has stated support for a role for finance in meeting the goals of the Paris Agreement, and has advocated for action to achieve zero-carbon economies by 2050. However, its CEO Bill Winters stated support for continued financing of unabated fossil fuels in an interview in 2021.
Standard Chartered has stated broad support for sustainable finance policy in blogs on its website and CDP responses. In various 2020 blogs, Standard Chartered appeared to express support for the EU's taxonomy. In many other cases, however, policies have been described in blog posts without an indication of position. In feedback to the Commission in its Renewed Strategy, Standard Chartered supported the extension of the taxonomy to cover environmentally harmful activities, as well as social issues.
In response to a 2019 FCA green finance consultation accessed through a freedom of information request, Standard Chartered expressed some minor concerns about the availability of data required to use the taxonomy in practice and stated support for regulated corporate ESG disclosure again with some minor caveats around the ability to gather the required data.
In response to the European Commission's Technical Expert Group (TEG) in 2019, Standard Chartered supported an update to the non-binding guidelines for reporting climate-related information with some more significant exceptions concerning the need for financial firms to disclose information on environmentally damaging activities. However, in response to FCA’s consultation and CDP in 2020, Standard Chartered supported the mandatory implementation of TCFD/climate disclosures for listed issuers.
In response to the European Commission and CDP in 2020, Standard Chartered also supported the need to incorporate ESG risks into prudential regulation. It also appeared to support suggestions to create guidance on including ESG preferences in investor financial advice and sustainability products as a default option. Finally, it supported verification mechanisms for the EU Green Bond Standard but only some of the Commission's suggested new ESG labels.
On its website, Standard Chartered has disclosed that it responds to consultations regarding sustainable finance, but it does not give details of positions taken. Standard Chartered has disclosed its trade association memberships but has not given any further details of its governance of indirect influence.