COSCO SHIPPING Development and Standard Chartered Bank (China) Limited have engaged in a framework agreement focusing on modernising the container industry chain.

The collaboration agreement will reportedly improve continuing information sharing between the two organisations at the national, regional, and global levels.

It will also strengthen their collaboration on transition finance, liquidity, and risk management, as well as the promotion of green and sustainable development projects.

This step is intended to support high-quality improvements in the ESG industry.

Recognised as the world’s first financial project dedicated to the transformation of the whole container industry chain, this effort intends to identify the container industry’s green and low-carbon transformation pathways.

By evaluating the daily operations of container production and leasing, among other business sectors, the project intends to incorporate a ‘transformation finance’ solution to assist and expedite the green and low-carbon transformation process for each node in the industrial chain.

Recently, COSCO SHIPPING established its self-operated fulfilment warehouse in the US.