🔎 What’s going on?
Standard Chartered pledges $75bn across three Sustainable Development Goals (SDGs) over the next decade until 2030.
💰So where’s all the money going to go?
The SDGs are 17 goals the United Nations set in 2015 that should be achieved by 2030. Standard Chartered recognises the enormous opportunity ($10 trillion! 🤑) this presents the private sector. They have picked three SDGs to focus on, across 15 markets in Asia and Africa:
💦 SDG 6: Clean Water and Sanitation
🔌 SDG 7: Affordable and Clean Energy
🔨 SDG 9: Industry, Innovation and Infrastructure (mainly digital access and transport)
Infrastructure projects will get $40bn whilst renewable and clean energy will get $35bn.
❓Why should I care?
This coming decade is the most important and pivotal decade when it comes to reaching 1.5C temperature. When the private sector, NGOs and governments, commit to working towards a common goal - great strides can be made in achieving both sustainable and environmental development through the UN’s SDGs.
🚦Where do we need to be?
Although Standard Chartered investing $75bn in sustainable development sounds like a huge investment, it’s only a drop in the ocean in terms of what’s actually required. The Intergovernmental Panel on Climate Change (IPCC) says that $2.4 trillion annual investment is required each year on energy systems alone until 2035! Luckily, more and more private investment is being committed - for example, last year, Santandar announced it’s plan to commit $120bn in green finance by 2025.
👤What can I do about it?
If your money is invested in pension funds or savings fund, then check if they are invested in Environmental, Social and Governance (ESG) funds. Check out this guide to learn more about what ESG investing means.
If you work in finance, be resourceful and find ways so your company can actively support the UN Sustainable Development Goals - regardless of which office you sit in. Check out Standard Chartered's Opportunity 2030 Map here for more inspiration.