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Memorandum of Understanding: devising a framework for sustainable financing

Date: March 04, 2020
Domain:Economy & Finance
Persona: Business; Citizen; Government; Non-Citizen

GIS - 04 March, 2020: The Ministry of Financial Services and Good Governance and the Standard Chartered Bank PLC (SCB) signed a Memorandum of Understanding (MoU), yesterday, at the Labourdonnais Hotel, Port Louis in view to devise a framework for sustainable financing. The framework will support the broader sustainability agenda contributing to the country achieving its sustainable development goals by 2030 and meet with the Paris Climate agreement’s commitments.  
The signatories were the Minister of Financial Services and Good Governance, Mr Mahen Kumar Seeruttun, and the Group Chairman of the SCB, Mr. José Viñals.
In an address, Minister Seeruttun pointed out that the MoU is evidence of the contribution of policy makers and financers in tackling environmental and social challenges to keep the planet liveable and also to leave a sustainable legacy for future, prosperous generations. This collaboration, he said, is a first of its kind and expressed the wish that it will be reproduced by financiers to place Africa on a better footing in the realisation of United Nations’ Sustainable Development Goals as well as to generate sustainable economic growth across the continent.  
He further expressed his apprehensions about the future of the planet and dwelt on human actions to exploiting and pushing beyond limits both lands and oceans and the adverse effects of climate changes Hence, the need for collaborative agreement to promote sustainable development and deliver finance that drives positive social and economic impact, he stressed.
Speaking on the Government Programme 2020, he underlined that it lays emphasis on the need to ensure sustainability and responsible investment through a new development policy based on four pillars. They are:  investment in clean energy; shift to a cleaner and greener Mauritius; mitigate risks from climate change; and protecting our marine resources.
The Minister also commended the laudable initiatives that the SCB has been taking across frontiers. The SCB, he mentioned, was awarded Best Bank for Sustainable Finance in the Global Finance World’s Best Bank Awards 2019.  
Government Information Service, Prime Minister’s Office, Level 6, New Government Centre, Port Louis, Mauritius. Email:  Website:  Mobile App: Search Gov
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