Standard Chartered to Sell Carbon Credits for Brazilian State Seeking to Protect Amazon
The London-based bank will sell up to five million carbon credits over a five-year period starting in 2026, in one of the first instances of a major bank working with a state or local government to support forest conservation by directly selling carbon credits.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
2 hours ago
- Yahoo
Up 98% in a year! Can this ‘overlooked' FTSE 100 stock continue to soar?
It's hard to keep track of every stock on the FTSE 100. I've only glanced at Standard Chartered (LSE: STAN) now and then and as it turns out, I've missed quite a lot. But can the Asia-focused bank's remarkable performance continue? Standard Chartered has soared 98% in the past year, and its shares are up 246% over two years, with dividends on top. It had a stellar 2024, with full-year results, published in February, showing an 18% jump in pre-tax profit to $6bn. The share price got another boost from last week's half-year 2025 results, published on 31 July. These revealed a 26% rise in pre-tax profit to $4.38bn, flying past analysts' forecasts of $3.83bn. The shares are smashing it The bank also announced a $1.3bn share buyback and increased its interim dividend by 37% to 12.3 US cents a share. CEO Bill Winters hailed a 'strong first-half performance' driven by its focus on cross-border and affluent banking. Analysts have raised their expectations as a result, with Shore Capital increasing its fair value estimate from 1,270p to 1,355p. That's actually below today's share price of 1,383p, which suggests the stock may have run its course for now. Shore isn't the only analyst suggesting the stock has gone as far as it can today. The 15 analysts providing one-year price targets have a median forecast of around 1,342p. That implies a small dip of roughly 3% from current levels. These estimates are likely to pre-date the 11% spike over the past month, but confirm my suspicion that the fun may be over for now. FTSE 100 banks are all flying I say Standard Chartered is overlooked, but clearly some investors have noticed it. What I really mean is that the big FTSE 100 banks such as Barclays, NatWest Group and Lloyds Banking Group tend to dominate investor attention. For those seeking Asia exposure, HSBC Holdings tends to grab the limelight. All the major banks have enjoyed a significant re-rating in recent years. I personally hold Lloyds. Although it has lagged slightly, partly due to the motor finance selling scandal, I'm hardly complaining. For income seekers, HSBC, Lloyds and NatWest offer tempting trailing yields of 5.23%, 4.11% and 4.78%, respectively. Standard Chartered's yield sits around 2%. The outlook is positive, but banks carry risks. Standard Chartered's deep Asia exposure, especially to China, leaves it vulnerable to worsening trade tensions with the US. The Chinese economy faces structural challenges unrelated to geopolitical rivalry, though that hasn't weighed on Standard Chartered over the last year. This stock could slow down Donald Trump's tariffs could have an impact too, hitting global growth and client activity. On the other hand, UK-focused banks face domestic challenges. No matter where they operate, banks must navigate risks. Despite a strong run, I believe Standard Chartered remains worth considering for long-term investors who want exposure to the Asia banking market. It still looks decent value, with a price-to-earnings ratio of around 11. So do all the FTSE 100 banks. Yet I suspect that after the bumper sector-wide recovery, things will settle down a little now. The post Up 98% in a year! Can this 'overlooked' FTSE 100 stock continue to soar? appeared first on The Motley Fool UK. More reading 5 Stocks For Trying To Build Wealth After 50 One Top Growth Stock from the Motley Fool HSBC Holdings is an advertising partner of Motley Fool Money. Harvey Jones has positions in Lloyds Banking Group Plc. The Motley Fool UK has recommended Barclays Plc, HSBC Holdings, Lloyds Banking Group Plc, and Standard Chartered Plc. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Motley Fool UK 2025 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
6 hours ago
- Bloomberg
Carry Traders Ramp Up Bets in Emerging Markets as Fed Cuts Loom
Carry trade is making a comeback among emerging market investors as bets the Federal Reserve's will kick off interest-rate cuts next month weaken the dollar and fuel appetite for high-yielding currencies. Money managers from Neuberger Berman Group LLC to Aberdeen Group Plc. are piling into currencies from Brazil, South Africa and Egypt, saying a weaker greenback and easing volatility make the environment ripe for the strategy, in which traders borrow in lower-yielding currencies to buy those that offer higher yields.
Wall Street Journal
9 hours ago
- Wall Street Journal
What Happens When Politicians Meddle With Economic Data: Argentina's Example
Government statistician Graciela Bevacqua arrived at the office on a Monday to bad news from her boss: There was no easy way to say this, but the president wanted her head. It was January 2007, and Bevacqua oversaw the consumer-price index at Argentina's national statistics agency, Indec. Rising inflation threatened the electoral hopes of leftist President Néstor Kirchner's wife, Cristina Fernández de Kirchner, who was running to succeed him. Bevacqua was unwilling to fudge the numbers, so Kirchner replaced her with a loyalist who did it.
