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Standard Chartered Bank And Siemens Energy Issues First Green Guarantee For A Solar Project In Qatar

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Standard Chartered Bank with Siemens Energy announces the issuance of the first Green Guarantee in Qatar. This historic initiative is a major milestone in increasing responsible and sustainable banking practices in Qatar. It also sets a new standard in the industry.

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A Green Guarantee was issued to Qatar for a Solar Power Project being developed in Qatar. It is expected that this project will play a significant role in Qatar’s national climate change plan. This plan aims to reduce Qatar’s carbon footprint and increase its energy independence. This Green instrument supports the project’s success and long-term sustainability.

Daniela Schoeppner, the Vice President of Finance Hub, Middle East for Siemens Energy stated, “The road towards net zero requires partnership and innovation as well as decarbonization.┬áThis is evident in the creation of the innovative Green Guarantee, a trading instrument with Standard Chartered that will support the development of a significant solar power project in Qatar .”

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Standard Chartered Bank’s Regional Head for Corporate Commercial & Institutional Banking, Mohammed Salama said that the bank was pleased to work with Siemens Energy in the launch of this green warranty. Our sustainability-linked solution is a demonstration of our commitment to sustainable finance and supporting RE projects that contribute to a better future for all. Standard Chartered Bank has been a catalyst for the sustainability agenda in our key markets by leading landmark transactions that support market leaders like Siemens Energy.

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The partnership between Standard Chartered Bank and Siemens Energy establishes a new standard in sustainable finance in Qatar. It serves as a model for institutions and companies looking to encourage responsible as well as sustainable financial practices.

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