KUALA LUMPUR, Sept 13 — Standard Chartered has executed its first green trade finance facility to support Amplus Energy Solutions FZE, a subsidiary of Amplus Solar, in its solar generation business.
Amplus Solar, a member of the Petronas group, is Asia’s leading distributed energy company which provides low-carbon energy solutions to its industrial and commercial customers.
“This facility is a significant milestone towards the implementation of sustainable practices across ecosystems and in building more resilient supply chains,” Standard Chartered Malaysia said in a statement.
The banking group’s newly introduced Sustainable Trade Finance Proposition in Malaysia, 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 as well as transition industries.
Amplus Solar managing director and chief executive officer (CEO) Sanjeev Aggarwal said with the green financing facility, the company was confident that it could further expand its green footprint across new regions and support companies in achieving their sustainability goals.
Meanwhile, Standard Chartered Malaysia managing director and CEO Abrar A. Anwar said trade finance has an enormous opportunity to help make global supply chain activities — which the World Trade Organisation estimated to be around US$19 trillion (US$1=RM4.14) — more sustainable by offering companies the solutions they need to meet their ESG goals.
“Our new Sustainable Trade Finance Proposition will help companies build sustainable and resilient supply chains, as we work to drive capital towards more sustainable development outcomes,” he said. — Bernama
