Standard Chartered Bangladesh has claimed the “Renewable Energy Adoption Award – Bangladesh” at the ESG Business Awards 2023.
The bank’s Solar Village project with Friendship was recognized by the award committee for elevating the quality of life and building community resilience for all 750 residents of Kurigram’s Ghughumari Char.
Under the project, the remote island’s infrastructure has been upgraded to include a 54-kilowatt solar micro-grid and 60 tube wells.
The Bank and Friendship have also planted 1,350saplings across the island to bolster climate resilience.
By providing access to essential resources, the Bank is lifting participation amongst marginalized individuals and is helping to build a sustainable community that lives in harmony with nature.
Standard Chartered has had a meaningful impact in the Environmental, Social, and Governance (ESG) space in 2023, owing to the launch of a range of sustainability and community engagement initiatives.
The Bank remains committed to building on this momentum in the coming months.
Bitopi Das Chowdhury, head of corporate affairs, brand & marketing, Standard Chartered Bangladesh, said: “Located 15 kilometres away from the mainland and disconnected from our national grid, Ghughumari is a shining example of how reliable renewable energy can have a transformative effect on hard-to-reach communities. When we visited in 2023, we heard incredible stories of strength and resilience. Soon we hope to hear stories of how transformative this has been for Ghughumari residents. We are happy to be recognized by international award bodies for the efforts we are making to support our communities.”
Runa Khan, founder and executive director, Friendship, said: “The 'Renewable Energy Adoption Award' is a testament to Friendship SPO (Social Purpose Organization) and Standard Chartered Bangladesh's collaborative effort, illustrating responsible renewable energy opportunities. Creating long-term, geography- sensitive, and context-specific solutions in business strategies, particularly in climate-challenged regions. Standard Chartered's commitment to Friendship-Standard Chartered Bangladesh Solar Village, is a prime example of how corporations can seamlessly integrate sustainable practices into their core strategies.”
Chars are some of the most climate vulnerable places on Earth.
To alleviate hardship, Standard Chartered Bangladesh intervened to help char residents to combat the key challenges they face: access to clean drinking water, adequate food supply, proper shade from plants, help in arresting soil erosion, and most importantly access to electricity.
The Bank’s holistic Solar Village project with Friendship is aimed at providing sustainable assistance to Ghughumari’s community members.