Standard Chartered Adopts Equator Principles

London - 8 October 2003

Standard Chartered today announced the adoption of the Equator Principles as a basis for managing environmental and social issues in project financing. “We are committed to minimising the environmental and social impacts associated with our operations. Adopting the Equator Principles will reinforce the Bank’s long established environmental and social risk evaluation process. We believe in sustainable business and are pleased to adopt best practice”, said Group Chief Executive Mervyn Davies.

The Equator Principles are a set of voluntary guidelines based on the policies of the World Bank and International Finance Corporation that were developed by a number of major international banks. They establish a common framework to address the environmental and social issues that arise in financing projects and ensure they are implemented according to sound environmental management practices.

Standard Chartered is also a signatory to the United Nations Environment Programme’s Statement by Financial Institutions on the Environment and Sustainable Development. This includes a public declaration of support for the concept of sustainable development as a fundamental aspect of sound business management. Standard Chartered is a corporate member of the United Nations Global Compact, which challenges companies to demonstrate progress in supporting and advancing its principles in three areas; labour standards, human rights and environmental responsibility. Standard Chartered produces an environmental report, which is available from their website and voluntarily participates in the Business in the Environment (BiE) Annual Index of Corporate Environmental Engagement.

For further information please contact:

Chris Sykes Head of Corporate Social Responsibility
+44 (0) 20 7280 7753