Standard Chartered Bank supports WWF’s Earth Hour across the Middle East Standard Chartered Bank joined people, businesses and iconic buildings in the Middle East on Saturday 28 March 2009 for the second year in a row when they switch off their lights for one hour - WWF’s Earth Hour, showing support for a global mandate on climate change. Over 4,000 staff members across Standard Chartered UAE, Bahrain, Qatar, Oman, Lebanon, Egypt and Jordan together participated by switching off computers before leaving their desks on the Thursday before Earth Hour, aiming to make a powerful statement about energy consumption in the region - the greatest contributor to climate change. Shayne Nelson, Standard Chartered Bank Regional CEO, Middle East and North Africa said, “With the backdrop of global economic challenges, it is easy to put climate change on the back burner. At Standard Chartered, we believe that with our wide network in the Middle East, we can make a credible difference to the environment. We encourage our staff to lead by example by symbolically switching off and unplug all non-essential
equipment and lights in the office and at home for Earth Hour, and to incorporate these simple actions into their lifestyle as a sustainable approach to tackling climate change.” “In our capacity as advisors, lenders, investors and insurers we recognise the instrumental role that financial institutions play in catalysing the shift to a low carbon economy. In January 2009, we led discussions on pertinent topics concerning climate change and renewable energy at the World Future Energy Summit in Abu Dhabi. Today, through this initiative, we are reaffirming our commitment to climate change ahead of the Climate Summit in Copenhagen. The Bank is proud to support the EWS-WWF - led initiative in the UAE and commend the Environment Agency - Abu Dhabi (EAD) and Dubai Municipality’s endorsement of the event. We encourage all organisations in the UAE and the region to join us in the campaign and help raise awareness about global warming.” Climate change is one of the most serious threats facing the planet, and demands
urgent global action. Unless action is taken to prevent average global temperatures rising more than 2°C above pre-industrial levels, there is a high risk of severe and irreversible changes in the planet’s natural systems, which will be devastating for people, economies and nature. A billion people are expected to sign up to Earth hour in 2009, and this year’s event is a lead up to the UN climate summit in Copenhagen in December 2009. Standard Chartered is supporting WWF’s movement to convince governments across the world to agree to take effective action to tackle climate change when they meet at the summit.
Standard Chartered is committed to building a sustainable business in the Middle East that continues to be high performing and views all actions in terms of their environmental impact, and economic and social contribution. The Bank’s environmental commitment is underpinned by its pledge at the Clinton Global Initiative to finance USD810bn of renewable and clean energy projects by 2012. To find out more about Earth Hour please visit www.earthhour.org. To read Standard Chartered Bank’s Sustainability Review, visit: www.standardchartered.com/ sustainability/en/index.html
Standard Chartered Saadiq voted ‘Best International Islamic Bank 2009’ Standard Chartered Saadiq, the Bank’s Islamic banking unit, has been named ‘Best International Islamic Bank’ for 2009 by Euromoney. A number of significant deals the Bank closed throughout 2008 including the first Sovereign Deal for the Government of Pakistan and a Project Finance Deal for Al Ma’aden Phosphate Company, contributed to the win. 10 Forum
Standard Chartered’s Group CEO Saadiq, Afaq Khan, commented, “The Bank remains focused on delivering shariah-compliant financial products and solutions seamlessly across our geographic footprint. To be voted ‘Best International Islamic Bank’ is testament to our team’s ability to combine Shariah expertise with strong business understanding to meet with
our customers business needs. The trust and the partnership with our customers and product partners have provided us the ability to deliver on a number of industry firsts that now serve as a benchmark across the markets for future similar deals.” Standard Chartered Saadiq celebrated its first anniversary as a global
Islamic banking brand last year offering solutions to SMEs including Cash, Trade Finance and Forex, and product offerings to individuals including mortgages, personal and auto finance, as well as third party distribution of Islamic funds. In 2008 Saadiq was presented with14 additional awards for major achievements in the Islamic banking field.
The magazine from the Bahrain British Business Forum