The latest developments in and around environmental, social and governance-related investment, sustainability, impact investing and forms of philanthropy.

Standard Chartered has launched a sustainable escrow and account bank solution.

Clients can hold their funds in an escrow or a secured account that is referenced against Standard Chartered’s portfolio of sustainable loans and projects, fitting with its Green and Sustainable Product Framework.

The solution is available in the UAE, the Dubai International Financial Centre, and the UK, the bank said. 

The bank is an independent escrow agent and/or account bank. (Escrow refers to a bond, deed, or other document kept in the custody of a third party, which takes effect only when a specified condition has been fulfilled.)

“Standard Chartered is committed to supporting clients in meeting both financial and sustainability goals while managing risks effectively,” Sandrine Jourdainne, global head, deposits, liquidity and escrow solutions, said.

“By offering these sustainable solutions, we’re playing our part in empowering our clients to channel their funds into projects and loans that have real-world positive impact, securely and transparently,” Jourdainne added. 

The launch adds to the bank’s transaction banking suite of sustainable solutions, which includes the ESG-linked cash account, sustainable account, sustainable trade finance, and sustainable trade loan for financial institutions.