8DECEMBER 2022OPINIONIN MYBy Steven Cranwell, CEO, Americas and Regional Head Client Coverage, Americas, Standard CharteredHow governments and businesses respond to the enormous challenges of a rapidly changing environment continues to be a topic of critical importance, both here in the U.S. and across the world. Financial Institutions today are in a strong position to help clients across industries with their transition plans, balancing the need to act urgently while recognizing that emissions cannot be eliminated overnight. Globally our target must be to decarbonize as rapidly as possible and limit global warming to a temperature increase of no more than 1.5 degrees Celsius above pre-industrial revolution levels. A holistic view of our clients, their targets and ambition is an important step in this journey, and this is why Transition Finance is a core focus for us at Standard Chartered.Across the world, 35 billion metric tons of carbon dioxide was emitted into the atmosphere in 2021. We need to consciously transition from the global economy we have today, to the economy we aspire to have: one that minimizes carbon emissions and supports net zero ambitions. If we are going to achieve net zero by 2050, partnering with clients to finance their transition must become a part of the solution. TOWARD A NET-ZERO FUTURE WITH TRANSITION FINANCE
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