Standard Chartered CEO Defends ESG Investing Amid U.S. Backlash

Standard Chartered chief executive Bill Winters defends environmentally conscious investing, dismissing U.S. backlash against ESG. Winters emphasizes the importance of sustainable practices for both the planet and business profitability. Despite political tensions, Winters highlights ongoing engagement with net-zero objectives and business growth. Standard Chartered CEO, Bill Winters, asserts that environmentally conscious investing remains beneficial for […] The post Standard Chartered CEO Defends ESG Investing Amid U.S. Backlash appeared first on The Real Preneur.

Mar 4, 2024 - 12:56
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Standard Chartered CEO Defends ESG Investing Amid U.S. Backlash
  • Standard Chartered chief executive Bill Winters defends environmentally conscious investing, dismissing U.S. backlash against ESG.
  • Winters emphasizes the importance of sustainable practices for both the planet and business profitability.
  • Despite political tensions, Winters highlights ongoing engagement with net-zero objectives and business growth.

Standard Chartered CEO, Bill Winters, asserts that environmentally conscious investing remains beneficial for businesses, despite the political backlash against ESG (environmental, social, and governance) initiatives in the United States.

In an interview with CNBC’s “Squawk Box Europe,” Winters addressed concerns surrounding the perception of ESG as “woke capitalism,” emphasizing the importance of prioritizing sustainable practices. He stated, “I mean, I do want to wake up one day and have a planet so if that makes me woke, shoot me.”

Acknowledging the politically charged environment in the U.S., Winters pointed out the irony of Texas, a leading state in renewable power, opposing pension fund managers with ESG agendas. However, he remains committed to sustainable efforts, citing Standard Chartered’s dual-track objectives of achieving net-zero carbon emissions by 2025 and 2050 for its own firm and financed emissions, respectively.

Winters emphasized the alignment of sustainable initiatives with business profitability, noting the continued engagement of clients in pursuing net-zero goals. He highlighted the growth of Standard Chartered’s business supporting sustainable practices, indicating a positive outlook for both environmental impact and financial returns.

Despite challenges and political tensions, Winters reaffirmed the company’s dedication to sustainability, emphasizing that it is “not philanthropy” but a commitment to “do the right thing for the planet” while ensuring business success.

The post Standard Chartered CEO Defends ESG Investing Amid U.S. Backlash appeared first on The Real Preneur.

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