Standard Chartered & Siemens Energy issue 1st green guarantee in Qatar

Standard Chartered & Siemens Energy issue 1st green guarantee in Qatar

Standard Chartered Bank and Siemens Energy have announced the issuance of the first Green Guarantee in the state of Qatar.

This landmark initiative marks a significant milestone in increasing sustainable and responsible banking practices in Qatar and helps to set a new standard for the industry.

According to the statement, the Green Guarantee was issued for a Solar Power project being developed in Qatar that is expected to play a major role in the country’s national climate change action plan and its objective to reduce the State’s carbon footprint while increasing its energy independence.

This Green instrument is designed to support the project’s successful completion and long-term sustainability.

Mr. Mohammed Salama, Regional Head of Corporate Commercial & Institutional Banking, Standard Chartered Bank stated that, “We are pleased to partner with Siemens Energy on the launch of this green guarantee. Our sustainability linked solution demonstrates our commitment to promoting sustainable finance and supporting renewable energy projects that contribute to a more sustainable future for all.”

“Standard Chartered Bank has been a key catalyst of the sustainability agenda across our key markets through leading landmark transactions that support the sustainability objectives of market leaders such as Siemens Energy,” Ms. Salama added.

This partnership between Standard Chartered Bank, Qatar,