Standard bearer for sustainability
Standard Chartered bank may be headquartered in London, but its business focuses on Africa, Asia and the Middle East. That gives it a unique perspective – and opportunity – when it comes to promoting sustainable economic growth.
As with any self-respecting banker, Mark Devadason is good with figures. In his case, they usually end with multiple zeros.
Here are just a few: 2.4 billion: the anticipated size of Africa’s population come 2050, more than double its current rate (of 1.1 billion); 870 million, the number of women expected to join the global workforce or set up a business in the decade up to 2020; 2.5 billion, the number of unbanked people in the world.
Standard Chartered Bank has a public pledge to be “here for good”. Ultimately, that means taking huge, abstract numbers like these and translating them into meaningful, on-the-ground change for individuals. Working out how to achieve this forms a central part of Devadason’s mandate as the bank’s global head of sustainability.
Step one is to work out where an international bank with Standard Chartered’s geographic focus in Africa, the Middle East and Asia can best contribute – and where it can’t.
It boasts all the kinds of responsible employment practices and...