Standard Chartered Private Bank introduces ESG Select

Maria Nikolova

The bank will apply this new review process on wealth solutions that seek to be positioned as a sustainable or environmental, social and corporate governance (ESG) product on the Standard Chartered platform.

Standard Chartered Private Bank, the private banking division of Standard Chartered, today announces that it has launched “ESG Select” – a new review process to be applied on wealth solutions that seek to be positioned as a sustainable or environmental, social and corporate governance (ESG) product on the Standard Chartered platform.

ESG Select also applies to ESG funds, which Standard Chartered Bank offers via its Wealth Management suite of products to retail banking clients.

The bank explains that sustainable investing is becoming a mainstream consideration for many investors and ESG products are increasingly accessible. It is timely and critical that ESG products are properly evaluated to manage the potential negative impact of ESG risks and, at the same time, spot opportunities to drive positive impact.

The methodology behind ESG Select is tailored to each asset class, with funds and discretionary portfolio solutions following a similar assessment process, while bonds and structured products are separately assessed on different sets of criteria. The underlying premise is to benchmark against established frameworks that are aligned to Standard Chartered’s positions and to ensure that an ongoing monitoring and review are in place. The entire process is well-supported by various stakeholder groups within the bank, allowing for the most relevant input and expert advice.

Standard Chartered started incorporating ESG scores into its Wealth Management investment advisory trade notes for equities and fixed income since the third quarter of 2019. The launch of ESG Select is seen to the rigour of the bank’s sustainable investing proposition, allowing clients to factor ESG considerations into their investment decisions.

Eugenia Koh, Head, Sustainable Investing and Strategic Engagement at Standard Chartered Private Bank said:

“We have seen increased interest from many of our high-net-worth clients to include a sustainable element in their investment portfolio. Our open architecture approach, which is product agnostic, coupled with our Impact Philosophy allow our bankers to recommend ESG products that address clients’ impact needs. Launching ESG Select will help us address green washing concerns and we are confident that our clients will benefit from a more rigorous and systematic investment decision journey.”

Read this next

Industry News

CFTC comments on ION Cleared Derivatives issues after Russian-linked hack

“The ongoing issue is impacting some clearing members’ ability to provide the CFTC with timely and accurate data. As this incident unfolded, it became clear that the submission of data that is required by registrants will be delayed until the trading issues are resolved.”

Industry News

FCA took down 14 times more misleading ads in 2022 thanks to technology

The FCA has made significant improvements to the digital tools it uses to find problem firms and misleading adverts. These improvements have enabled it to work through a much larger number of cases compared with 2021.

Executive Moves

HKEX appoints ex-Goldman Sachs Matthew Cheong to lead platform’s focus on derivatives

“He has worked for a number of the world’s leading investment banks and his experience will be invaluable to HKEX as we continue to enhance our derivatives product offerings and build on our innovative and robust platform business, connecting capital with opportunities.”

Digital Assets

Zodia Custody and SBI Digital Asset Holdings launch JV for crypto asset custodian in Japan

“Zodia Custody is both proud and excited to be working with SBI DAH to help set up SBI Zodia Custody; the first tier 1 crypto asset custodian for institutions in Japan.”

Digital Assets

Paxos opens R&D center in Israel to focus on transaction signing and crypto custody security

“Paxos is looking to expand its team in Israel in 2023 and beyond, giving engineers the opportunity to work on cutting-edge financial products and shape the future of the global economy.”

Executive Moves

Stash appoints Liza Landsman as CEO to further grow investing app

Stash is an investing and banking app with over 2 million active subscribers. Its subscription plans start at just $3 a month, and offer a range of products including investing, banking, education, and advice.

Institutional FX

Invast Global ramps up its offering with 10 soft commodity CFDs

Sydney-based prime-of-prime provider Invast Global has expanded its offering with the addition of ten soft commodity CFDs, which increases their index and commodity CFD offering to 35 instruments.

Retail FX

FF Simple and Smart Trades says Goodbye to CySEC authorization

The Cyprus Securities and Exchange Commission (CySEC) confirmed that it has wholly withdrawn the Cyprus Investment Firm (CIF) licenses of FF Simple and Smart Trades Investment Services Ltd.

Crypto Insider

Shining the Light in Crypto’s Dark Places

Something changed in regulators’ minds after the November crash of the FTX crypto exchange.