StanChart executes first Green Banker’s Guarantee in Singapore

This marks the bank’s first such transaction in ASEAN, issued as part of the contractual requirements for ENGIE’s District Cooling Project at Punggol Digital District.

Standard Chartered and ENGIE South East Asia have announced the bank’s first Green Banker’s Guarantee in Singapore.

Issued under its Sustainable End-Use Pillar of its Sustainable Trade Framework, this transaction is per JTC's requirement for ENGIE to fulfil its contractual obligations to build, own and operate an underground district cooling system for Singapore’s upcoming Punggol Digital District.

The Green Banker’s Guarantee with a renewable tenure of up to 33 years is executed in the form of a performance bond in favour of JTC as security for the performance by ENGIE of its obligations and liabilities under the project agreement.

Upon full development, the...

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