Press Releases - Standard Chartered launches first Sustainable Trade Export LC plan.

Standard Chartered Bank (Pakistan) Limited (SCBPL) has launched Pakistan's First Sustainable Trade Export LC Programme. SCBPL is supporting Louis Dreyfus Company (LDC) export cotton sourced through the world's leading cotton sustainability certification programme, the Better Cotton Initiative (BCI).

With Standard Chartered's focus on helping companies accelerate to net-zero and closing funding gaps for sustainable and green finance in emerging markets, SCBPL was the bank of choice for LDC, given LDC's own commitment to work towards a safe and sustainable future in Pakistan.

Arslan Nayeem, Head of Client Coverage, CCIB, Standard Chartered Pakistan, said, 'Whilst we strive towards our sustainable financing goals at a global level, we find it key to support local exports not only as an economically viable venture but also to integrate sustainability and climate resilience in a manner that the Better Cotton Initiative encourages.

We are delighted to partner with Louis Dreyfus Company in this joint pursuit of our sustainability goals through this Sustainable Export LC Programme. Sustainability and transition finance have become the need of the hour and a priority for many of our clients. Pakistan is a prime market for green and transition financing and the Bank is here to support clients cover funding gaps for such initiatives.'

Bilal Yousuf Chabra, Country Head of LDC Pakistan, said, 'Sustainable agriculture and production remain amongst the world's most pressing challenges. As a leading merchant and processor...