Tuesday, 16 July 2024
ICC proposes framework for sustainable trade finance
The International Chamber of Commerce (ICC) has published a major report setting out proposals to tackle the longstanding challenge of defining and setting common standards for sustainable trade and associated financing. The paper – developed in partnership with the Boston Consulting Group (BCG) through a global consultation exercise involving over 200 banks and corporates – outlines the first-ever standardised framework and assessment methodology to qualify the sustainability profile of trade transactions. Unlike other asset classes, such as bonds, no standards currently exist to allow financial institutions to grade the sustainability performance of trade finance transactions – the global market for which is currently valued at $5 trillion annually.
Re-disseminated by The Asian Banker from International Chamber of Commerce
