Standard Chartered Bank sets up recycling bins in collaboration with EEG for World Ozone Day

Recycling conserves the environment by saving natural resources, energy, clean air and water, and helps control waste disposal problems.

Sriram Padmanabhan, Head of the Environment Committee and Chief Financial Officer, Standard Chartered UAE said:

"As a truly global business, we take our responsibility towards protecting the environment very seriously. We are committed to reduce the waste we generate and reduce the negative impact of that waste. Through the recycling scheme, we aim to stimulate positive change in mindset and behaviour by encouraging our employees to recycle items that would otherwise pile up in a landfill. "

Employees are encouraged to take ownership of their environmental impacts by bringing newspapers, aluminum cans and plastic bottles and place them into the appropriate bins bought from EEG. In turn EEG, a voluntary non-government organisation, arranges for the regular collection and transport of the waste to recycling depots in the UAE.

EEG chairperson Habiba Al Marashi said: "We welcome Standard Chartered Bank to our recycling scheme and applaud their initiative to protect the environment by placing recycling bins in their office grounds and engaging their employees to proactively take measures to protect the environment. I urge every organisation in the UAE to make a difference by joining our waste management program".

Standard Chartered works closely with clients, government, NGOs and other stakeholders to remain informed about environmental issues and stimulate action by creating awareness on what needs to be done to protect the environment. The Bank uses a variety of tools and activities that aim to raise awareness and understanding of the environment.

For instance in the UAE, the Bank rolled out a 'Go Paperless' campaign to encourage customers to switch to paperless and internet banking, and takes part in clean-up and waste collection drives organised by the Environment Agency - Abu Dhabi (EAD), EEG, and WWF's Earth Hour movement.

The Bank's environmental commitment is underpinned by its pledge at the Clinton Global Initiative to finance USD8-10bn of renewable and clean energy projects by 2012.