Standard Chartered Partners With PVH Corp. on Sustainability-Linked Supplier Finance Program

Enhanced partnership, which is part of a global supplier finance program, will advance PVH Corp. and its suppliers’ environmental ambitions across the supply chain

NEW YORK--(BUSINESS WIRE)--Standard Chartered Bank has embarked on a sustainability-linked supplier finance program with PVH Corp. Under this new sustainability-linked facility, PVH’s suppliers will have their day-to-day operations benchmarked against PVH’s environmental & sustainability performance metrics. Suppliers who meet the standards will qualify for discounted financing. In addition to environmental targets, PVH’s metrics will encompass social elements, including a healthy and safe working environment, and employment issues, such as forced labor, child labor, and harassment and abuse.

“We are extremely proud of the opportunity to expand upon our global supplier finance partnership with this initiative and support PVH’s Environmental, Social, and Governance (ESG) commitments,” said Joao Galvao, Head of Trade Sales Americas, Standard Chartered. “Trade finance has the unique ability to engage and incentivize companies across supply chains and improve working and environmental standards. We are passionate about enabling greater participation in global trade and facilitating access to growth and look forward to continuing doing so through sustainable trade finance solutions.”

“PVH's commitment to climate action and human rights is core to our Forward Fashion strategy. Through improved access to financing, our suppliers are empowered to invest in their businesses and people and contribute to our goals of advancing human rights in our supply chain,” said Rick Relinger, Chief Sustainability Officer at PVH.

Standard Chartered aims to help companies implement more sustainable practices and build more resilient supply chains, the Bank has launched sustainable trade finance solutions across Europe & Americas, Asia, Africa and the Middle East.

Standard Chartered

We are a leading international banking group, with a presence in 59 of the world’s most dynamic markets and serving clients in a further 64. Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise, here for good.

Our history in the US dates back to 1902, and we are currently present in eight locations throughout the Americas. Our Americas franchise focuses on financial institutions and select corporates and plays a key role in facilitating trade and investment flows between the Americas and Asia, Africa, and the Middle East.

Standard Chartered PLC is listed on the London and Hong Kong Stock Exchanges.

For more stories and expert opinions please visit Insights at sc.com. Follow Standard Chartered on Twitter, LinkedIn, Instagram and Facebook.