Standard Chartered Private Bank has launched ESG Select.
SCPB will apply the new review process to all wealth solutions that are positioned as ESG on the Standard Chartered platform. ESG Select is tailored to each asset class, with funds and discretionary portfolio solutions following a similar assessment process, while bonds and structured products are separately assessed on different sets of criteria. The underlying premise is to benchmark against established frameworks that are aligned to Standard Chartered’s positions and to ensure that an ongoing monitoring and review are in place.
The banks says the product has come about as a result of increased interest from its high-net-worth clients to include a sustainable element in their investment portfolio and will help address clients’ green washing concerns.