Standard Chartered has issued its inaugural Social Bond, a move aimed at supporting sustainable development in low-income countries within its emerging market footprint. The EUR1 billion bond is an 8-year Non-Call 7 year offering, primarily targeting small and medium-sized enterprises (SMEs) to ensure access to finance, create jobs, and support women-owned businesses. The proceeds will also be directed towards healthcare, education, basic infrastructure, and food security investments.
The bank's social asset pool comprises USD5.5 billion in assets located mainly in Asia, Africa, and the Middle East. Diego De Giorgi, Group Chief Financial Officer at Standard Chartered stated that this issuance "demonstrates Standard Chartered’s unique ability to raise capital in the world’s largest financial centres and deploy it across borders."
Marisa Drew, Chief Sustainability Officer at Standard Chartered emphasized the bank's commitment to inclusive growth: "This first Social bond issuance underscores our commitment to people, communities and businesses."
Daniel Hodge, Group Treasurer at Standard Chartered noted that investors benefit from dealing with a UK-regulated Bank while impacting developing markets through their products.
Salman Ansari highlighted that this is the group's first Social bond following three successful Sustainability bonds by Standard Chartered PLC. He said: "The transaction underlines the bank’s commitment to inclusive growth and development."
According to their 2024 Sustainable Finance Impact Report, past projects include financing clean water infrastructure in Angola and increasing SME access to finance in Uzbekistan. The SC Women’s International Network (WIN) programme aims to empower women entrepreneurs across multiple markets.