Majid Al Futtaim and Standard Chartered launch the region’s first sustainable supply chain finance programme

Majid Al Futtaim and Standard Chartered launch the region’s first sustainable supply chain finance programme

- A first of its kind innovative solution in the region

Dubai, United Arab Emirates: Majid Al Futtaim Retail, operator of the Carrefour franchise in the Middle East, Africa and Asia, and Standard Chartered Bank announced today the launch of the region’s first Sustainable Supply Chain Finance programme.

The innovative solution, designed by Standard Chartered Bank, enables Majid Al Futtaim Retail to incentivise their supplier partners to improve their sustainability performance and indicators, and address key Environmental, Social and Governance (ESG) risks within the supply chain.

Together, Majid Al Futtaim Retail and Standard Chartered Bank will work with a diverse range of Carrefour’s most active suppliers in the UAE to introduce a pilot programme ahead of the official programme launch, covering a wide range of categories offered at Carrefour.

Reiterating Majid Al Futtaim’s commitment to sustainability, this new programme will incentivize suppliers that meet sustainability criteria such as using energy-efficient equipment, employing fuel efficient vehicles, and minimizing landfill waste, with favourable financing terms. This programme, which is the first of its kind in the region, will further the company’s commitment to supporting local economies, producers and suppliers across the markets that it serves from whom it sources more than 80% of its products.

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