KUALA LUMPUR (Sept 13): Standard Chartered Bank (StanChart) said it has executed its first green trade finance facility to support Amplus Energy Solutions FZE in its solar generation business.

Amplus Energy is a subsidiary of Amplus Solar, which is a member of the Petroliam Nasional Bhd (Petronas) group and a provider of low-carbon energy solutions.

“This facility is a significant milestone towards the implementation of sustainable practices across ecosystems and in building more resilient supply chains,” StanChart said in a statement.

Standard Chartered Malaysia managing director and CEO Abrar A Anwar said the bank is proud to have supported Amplus to help fulfil their sustainability agenda as the bank makes global trade more sustainable and inclusive.

“Trade finance has an enormous opportunity to help make global supply chain activities — which the World Trade Organisation estimated to be around US$19 trillion — more sustainable by offering companies the solutions they need to meet their environmental, social and governance goals,” he said.

Amplus Solar managing director and CEO Sanjeev Aggarwal said the company looks forward to growing its partnership with StanChart, which now spans its presence in India and Dubai.