At the World Economic Forum in Davos, Switzerland, Standard Chartered CEO Bill Winters shared that the bank is on track to generate nearly $1 billion in revenue by 2025 from activities supporting clients in achieving sustainability goals. The UK bank has a commitment to provide $300 billion in eco-friendly financing by 2030 and maintains a strong stance in global climate finance, unaffected by the U.S. president's climate skepticism and other challenges.
Winters emphasized the profitability of their sustainability business: "It's a big business for us... It's a profitable business... It's kind of win, win." Despite anti-ESG sentiments in the U.S., Winters highlighted the overarching industry support for transitioning to a greener economy in the long term, stressing the necessity to move away from fossil fuels.
Standard Chartered plans to stick with the Net-Zero Banking Alliance, even in the face of recent political shifts impacting climate initiatives. The bank remains vigilant about evolving scenarios. Winters commented on the transition as Trump began his term, noting the economic advantages of clean energy that persisted during his administration, showcasing Texas' leadership in U.S. renewable energy expansion according to government data.