Standard CharteredÂ Bank has won the African Business Award for Best Corporate Citizenship and Social Responsibility- organised by African Business magazine and the Commonwealth Business Council (CBC).
The African Business Awards acknowledge the rapidly transforming business landscape in Africa by honouring entrepreneurial excellence, and by creating global visibility for the best practices in business.
Standard Chartered was complimented by the judges for outstanding leadership in social and environmental governance and Standard Charteredâ€™s direct contribution to its local communities and its employees through its innovative approach to sustainable development. This award was announced at a dinner in London, attended by more than 300 leaders from the government, business and the diplomatic community.
On receiving the award, Mike Hart, Standard Charteredâ€™s Chief Executive Officer, Africa remarked: â€œThis award is a tremendous honour. As an international bank in Africa, we play a key role in using our skills and experience to help address some of the issues which adversely impact economic development. Our approach to sustainability focuses on responsibly managing our core banking practices and on enabling the economies in which we operate to flourish through financing renewable energy, partnering with microfinance institutions, investing in the community and the international standards of governance that we drive in our business.â€
Standard Chartered have made a successful impact by: Financing renewable energy projects, such as the Bujagali run of river hydro-electric plant in Uganda, which when completed will significantly reduce the cost of electricity; Providing US$385m of financing and credit to microfinance partners in 2008; 55% of the beneficiaries were in Africa; Contributing to investment in the community through three of its programmes; Nets for Life – an African programme which works in partnership with other donors to reduce the number of deaths in Africa caused by malaria through the provision of anti-malaria nets; since 2006, over one million anti-malaria nets have been released.
In 2009, Standard Chartered has committed a further US$5 million to help release a further five million nets across 18 African countries by 2013; Living with HIV- an HIV/AIDS educational programme committed to reducing the number of new HIV infections globally by using education to enhance awareness and behavioural change; and Seeing is Believing – a global programme which tackles the avoidable blindness. In 2008, the programme contributed to restoring eyesight of two million people across 17 countries.