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Standard Chartered (the Group) today announced ambitious new targets to reach net-zero carbon emissions from its financed activity by 2050, including interim 2030 targets for the most carbon-intensive sectors. The Group’s approach is based on the best data currently available and aligns to the International Energy Agency’s Net Zero Emissions by 2050 scenario (NZE).

Whilst 33 of our 59 footprint markets do not at present have a commitment to reach net zero by 2050, we are setting out our plan for this timeline, recognising the pivotal role we can play in the transition. Many of these markets are currently reliant on carbon-intensive industries for their continued economic growth. Achieving a just transition – one where climate objectives are met without depriving developing countries of their opportunity to grow and prosper – will require capital and specialised support. We are uniquely placed to help by directing capital to markets that have both the greatest opportunity to adopt low-carbon technology, and some of the toughest transition-financing and climate challenges.

Our net-zero approach has three aims: 

Reduce the emissions associated with our financing activities to net zero by 2050, setting 2030 interim targets in our most carbon-intensive sectors

Our current estimate of in-scope baseline emissions from our corporate client base as at year-end 2020 is 45.2 million metric tonnes of carbon dioxide equivalents, associated with USD74.8 billion of assets (or 77% of our total drawn on-balance-sheet financing exposure of USD97.3 billion to corporate clients.) There is currently insufficient available data to accurately reflect the financed emissions of the remaining 23 per cent of our in-scope corporate lending assets.

We will stop financing, at an individual client entity level (e.g. subsidiaries), companies that are expanding in thermal coal. Ongoing provision of financial services to the client group will be subject to enhanced due diligence. We aim to reduce absolute financed thermal coal-mining emissions by 85 percent by 2030, in addition to the existing prohibition on financing new or expanding coal-fired power plants. By 2030 we will only provide financial services to clients who are less than 5 percent dependent on revenue from thermal coal.

As we expand our green and transition finance, we are targeting 2030 reductions in revenue-based carbon-intensity (i.e. the quantity of greenhouse gas emitted by our clients per USD of their revenue) of:

1) 63 percent for power
2) 33 percent respectively for steel and mining (excluding thermal coal mining)
3) ​30 percent for oil and gas

While the NZE foresees a decline in fossil-fuel production, progress won’t be linear and production of some fossil fuels may rise before it comes down in our markets, e.g. gas as it replaces more carbon-intensive alternatives such as coal in the transition phase.

By the end of 2022 we expect all clients in the power generation, mining and metals, and oil and gas sectors to have a strategy to transition their business in line with the goals of the Paris Agreement.

Having already covered nearly two-thirds of our in-scope financed emissions, targets for remaining carbon-intensive sectors will be announced in line with current guidelines from the Net Zero Banking Alliance, before the first quarter of 2024.

We are sharing our methodology transparently in a white paper to help collective learning and encourage discussion and debate. As standards and methodologies evolve, and data quality and availability improve, we will refine our emissions calculations further. To ensure transparency, we report yearly on progress, in detail, as part of the Task Force on Climate-Related Financial

Disclosures process:

Catalyse finance and partnerships to scale impact, capital and climate solutions to where they are needed most, including a plan to mobilise USD300 billion in green and transition finance

Our new Transition Finance Framework sets out how our transition finance will be governed by alignment to the NZE and a set of well-defined principles that help guide our clients onto a low-carbon pathway.

Accelerate new solutions to support a just transition in our markets, including a new dedicated Transition Acceleration Team to support clients in high-emitting sectors, and launch sustainable products

The Transition Acceleration Team will provide our clients in carbon-intensive sectors with deep expertise on how to accelerate their low-carbon transitions, and tools to measure their progress. We will launch a Universal Climate Finance Loan to incentivise clients to outpace national decarbonisation rates, as well as sustainable retail products such as green mortgages in key markets. In wealth management, by 2025 we aim to double sustainable investing assets under management and integrate environmental, social and governance considerations into our advisory activities.

José Viñals, Group Chairman, commented: “Following engagement with clients, shareholders and NGOs, we are today setting out our methodology for how we intend to reach net zero by 2050.

We are motivated by a belief that we can and must address the need for decarbonisation as a result of greater climate-related risks, which increase financing costs and hamper emerging markets’ long-term economic prospects.”

Bill Winters, Group Chief Executive, added: “We’re confident that we’re on a science-based trajectory toward net-zero financed emissions by 2050 that is consistent with the Paris Agreement.

As we reduce the emissions associated with our financing activities to net zero, we will also tackle financial barriers to the transition, including by making more green and transition finance available. This will help clients on a path to net zero while maximising the benefits of a just transition for people and communities.”

LaLiga, also known as the Primera Division, is Spain's top professional football league for men. It was founded in 1929 and is one of the oldest and most popular leagues in the world. The LaLiga season began in August and will conclude in May 2022. There are a total of 20 clubs competing in a Double Round-Robin format with each team playing 38 matches.

With the promotion and relegation system, a total of 380 league matches were played. One of the most intriguing facts about LaLiga is that the ‘El Clasico,' the match between Real Madrid and Barcelona, is the most viewed sporting event in the world (650 million viewers). Some of the top teams of LaLiga are Real Madrid, Barcelona, Atletico Madrid, Valencia, Sevilla and so on which is every famous club in European competition.

Dish Media Network Ltd. has obtained an exclusive broadcast right of LaLiga season 2021-22 for Nepal. Over 270 matches will be live telecasted on DishHome Action Sports HD2 in DishHome in DTH and OTT platform in course of 9 months spreading 38 footbal match weeks.

LaLiga will be exclusively broadcasted only on DishHome Action Sports HD2. It will be available for viewers on a “Season Ticket” scheme. The “Season Ticket” scheme will be available in DishHome DTH and OTT platforms. Customers can also enjoy LaLiga on SIM TV and Prabhu TV & OTT platforms.

Customers with DishHome can purchase season tickets to activate Action Sports HD2 by contacting customer support. Laliga is also available on the web and on the DishHome GO mobile app. Prabhu Pay is where you can get a DishHome Go Season Ticket. DishHome subscribers will have to pay Rs. 2000 for a Season ticket, while for non DishHome user Rs. 3000 for season ticket to activate LaLiga on DishHome OTT Platform. Along with all LaLiga matches, a LaLiga Season Ticket for the DishHome Go app gives you access to 69 TV channels and on-demand entertainment.

The Siddhartha Gallery at Babarmahal is currently hosting the ‘Contemporary Print Art Exhibition’ featuring 98 artworks of 46 artists who use various forms of printmaking in their artworks.

The artworks—based on multiple themes—are common in the sense that they all project the culture and way of life of Nepali communities. The exhibition showcases artworks by local artists including Anil Machamasi, Teesha Shrestha, Birendra Pratap Singh, Krishna Raut, Bidhyaman Tamang, Rukumani Shrestha, and Bhishan Rajbhandari. All participating artists use their own technics to create printed artworks that delve into the lives and livelihoods of people.

The exhibition runs through till April 13.

 Nepathya Live: Shikshya Ko Lagi Sangeet

4:30 pm, Saturday, Feb 29

Bhrikuti Mandap

Kathmandu, Nepal

“Shikshya Ko Lagi Sangeet” is a charity concert to promote the initiative of “Better Infrastructure for Better Education,” featuring the most popular band in Nepal— Nepathya.

BBQ at the Terrace

6:30 pm, Feb 28-29

Terrace Garden, Hotel Radisson

Lazimpat, Kathmandu

Head to the Terrace at Radisson Kathmandu for an exquisite experience of fresh, grilled, smoky and flavorful BBQ with amazing views from the rooftop.

 Kurt Cobain Birthday Bash

7 pm, Saturday, Feb 29

LOD: Lord of the Drinks

Thamel, Kathmandu

Join the bands Papercut, Newaz and Albatross in celebrating the birthday of the late grunge legend Kurt Cobain. The bands will perform Nirvana songs as a tribute.

 A Reunion of the Souls

1 pm, Saturday, Feb 29

Dalai-La Boutique Hotel

Thamel, Kathmandu

Photographers and co-founders of The Raw Society— Jorge Delgado Fotografía and Christelle Enquist—open their photography exhibition at the Dalai-La Boutique Hotel on Feb 29. The exhibit features 32 photographs that will be on display and sold in a silent auction to raise funds for the Karma Lekshey Ling School.