Standard Chartered Plc has admitted that its 2025 target of running entirely on renewable energy is proving difficult to achieve, citing significant market limitations in several countries where it operates.
Bloomberg reports that the UK-based financial giant highlighted the scarcity of renewable energy options in key markets across Africa and the Middle East as a major roadblock to its ambitious sustainability commitments.
In its annual report released on Friday, the bank pointed to “market constraints” in countries such as Bahrain, Botswana, Ghana, Iraq, and Tanzania.