Standard Chartered kick starts first green trade facility in UAE

British financial services company, Standard Chartered’s UAE branch has successfully inaugurated its first green trade finance facility to support Amplus Energy Solutions, a subsidiary of Amplus Solar, in its solar generation business.

 Amplus Solar is a member of the PETRONAS Group and is Asia’s leading distributed energy company which offers low-carbon energy solutions to its industrial and commercial customers. The new facility is a notable milestone towards the implementation of sustainable practices across ecosystems and in building more resilient supply chains.

Standard Chartered’s newly introduced sustainable trade finance proposition in the UAE, which applies a sustainability lens to its entire suite of trade finance products, allows the bank to support, sustainable goods, sustainable suppliers, sustainable end-use and transition of industries.

“It is our pleasure to announce the bank’s first green trade facility for the Group in support of PETRONAS, and its UAE-based subsidiary, Amplus Dubai, in their progress towards adopting sustainable practices through the enhancement of their global trade processes. With our local expertise, international presence, and robust sustainable trade finance proposition, Standard Chartered is well-positioned to support companies in developing sustainable and resilient supply chains, in line with our commitment to drive capital towards achieving the UN’s Sustainable Development Goals.”

“We look forward to growing our partnership with Standard Chartered, which now spans across our presence in India and Dubai. Moving ahead with the green financing facility, we are confident that we can further expand our green footprint across new regions and support companies in achieving their sustainability goals,” said Mr. Sanjeev Aggarwal, managing director and chief executive officer, Amplus Solar.

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