By Jaime Llinares Taboada

 

Standard Chartered PLC on Thursday announced new targets to reduce financed emissions from coal mining, oil and gas, and power.

The Asia-focused bank said it aims to reduce absolute financed thermal coal-mining emissions by 85% by 2030, in addition to stopping financing companies that expand in thermal coal.

Standard Chartered is targeting to reduce the quantity of greenhouse gas emitted by clients per U.S. dollar of their revenue by 63% for power companies, by 33% for steel and mining, and by 30% for the oil and gas industry.

 

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

 

(END) Dow Jones Newswires

October 28, 2021 06:03 ET (10:03 GMT)

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