Standard Chartered wins ‘Renewable Energy Adoption Award’ at ESGBusiness Awards 2023

Standard Chartered Bangladesh has claimed the "Renewable Energy Adoption Award – Bangladesh" at the ESGBusiness Awards 2023. 

The bank's Solar Village project with Friendship was recognised by the award committee for elevating the quality of life and building community resilience for all 750 residents of Kurigram's Ghughumari Char, reads a press release.

Under the project, the remote island's infrastructure has been upgraded to include a 54-kilowatt solar micro-grid and 60 tube wells. The bank and Friendship have also planted 1,350 saplings across the island to bolster climate resilience. By providing access to essential resources, the Bank is lifting participation amongst marginalised individuals and is helping to build a sustainable community that lives in harmony with nature. Standard Chartered has had a meaningful impact in the Environmental, Social, and Governance (ESG) space in 2023, owing to the launch of a range of sustainability and community engagement initiatives. The Bank remains committed to building on this momentum in the coming months. 

Bitopi Das Chowdhury, head of Corporate Affairs, Brand & Marketing, Standard Chartered Bangladesh, said, "Located 15 kilometres away from the mainland and disconnected from our national grid, Ghughumari is a shining example of how reliable renewable energy can have a transformative effect on hard-to-reach communities. When we visited in 2023, we heard incredible stories of strength and resilience. Soon we hope to hear stories of how transformative this has been for Ghughumari residents. We are happy to be recognised by international award bodies for the efforts we are making to support our communities."

Runa Khan, founder and executive director, Friendship, said, "The 'Renewable Energy Adoption Award' is a testament to Friendship SPO (Social Purpose Organisation) and Standard Chartered Bangladesh's collaborative effort, illustrating responsible renewable energy opportunities. Creating long-term, geography- sensitive, and context-specific solutions in business strategies, particularly in climate-challenged regions. Standard Chartered's commitment to Friendship-Standard Chartered Bangladesh Solar Village, is a prime example of how corporations can seamlessly integrate sustainable practices into their core strategies."

Chars are some of the most climate vulnerable places on Earth. To alleviate hardship, Standard Chartered Bangladesh intervened to help char residents to combat the key challenges they face: access to clean drinking water, adequate food supply, proper shade from plants, help in arresting soil erosion, and most importantly access to electricity. The Bank's holistic Solar Village project with Friendship is aimed at providing sustainable assistance to Ghughumari's community members. 

As a steadfast partner in Bangladesh's remarkable journey of growth and resilience, Standard Chartered upholds a legacy of commitment spanning over 119 years. Standard Chartered's community engagement and sustainability initiatives over the years have focused on economic empowerment; agricultural development; improving access to health, education, financial literacy; promoting sports, arts, and culture as drivers of positive social transformation; and addressing climate change. The Bank's dedication to bolstering Bangladesh's legacy of prosperity saw the bank secure 30 major awards in 2023.

Friendship is a Social Purpose Organisation. Over the course of the last 20 years, Friendship has been working to help address the needs people belonging to remote and marginalised communities across Bangladesh. Via each project, Friendship delivers on its four commitments: saving lives, poverty alleviation, climate adaptation, and empowerment.

The ESGBusiness Awards celebrates companies that are leading the way in building a sustainable future. The awards programme honours businesses that demonstrate outstanding commitment and achievement in environmental, social, and governance (ESG) practices.