Standard Chartered Launches Sustainable Supply Chain Finance To The Middle East
(21 December 2022 – Middle East) Standard Chartered has unveiled what it says is the first sustainable supply chain finance programme in the Middle East, in association with Majid Al Futtain Retail, operator of the Carrefour franchise in the region.
The programme, which is now being piloted with some of the company’s most active suppliers in the United Arab Emirates, gives favourable financing terms to suppliers that meet sustainability criteria such as using energy efficient equipment, employing fuel efficient vehicles and minimising landfill waste.
The scheme will soon be extended to all of the company’s suppliers across the Middle East, Africa and Asia.
“Through this innovative programme, we are not only supporting our supplier partners, moreover, we are also introducing and incentivising them to adopt sustainable practices within their operations,” said Majid Al Futtaim Retail CEO, Hani Weiss.