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Standard Chartered Bank and Plant A Tree Today Foundation Replenish Coastal Mangroves in Cat Ba National Park

 

Ha Long Bay, 4 December 2010 ­– Standard Chartered Bank (SCB) teams with Plant a Tree Today Foundation (PATT) and the with the help of Cat Ba National Park, restore mangrove forest to benefit the coastline of Vietnam and the environment as a whole.

SCB in Vietnam coordinated with PATT Foundation, and the knowledgeable staff at Cat Ba National Park in Ha Long Bay to plant native mangrove trees along the coast. 45 volunteers from SCB in Hanoi participated in the tree planting. The volunteers and park staff will plant 5,000 mangroves of two different species, half of the trees from the family of red mangrove and half from the white mangrove.

SCB has a long history of maintaining their corporate social responsibility (CSR) through contributions, donations, and positive action in the community. The bank is dedicated to protecting the environment and is working closely with PATT to plant trees and restore forests. SCB’s sustainability agenda disseminates, “It’s not an obligation. It’s an opportunity to do the right thing for the people we’ve come to know.” This effort, a part of the bank’s ‘Green Your Flights’ programme to combat climate change, means that SCB will sponsor five projects in four different countries. The result of these projects: 35,000 trees on two continents.

SCB’s Group Technology and Operations (GTO) has led ‘Green Your Flights,’ since July 2009 with the goal to offset the bank’s carbon emissions due to business travel. A carbon tax of USD $70 is charged to Group Technology and Operations for each flight booked in China, Hong Kong, India, Korea, Singapore, Taiwan, United Kingdom and the United States. With the ultimate goal of reducing greenhouse gas emissions, these funds are in turn used to support projects such as reforestation, renewable energy, energy conservation, and efficient land use.

Cat Ba National Park is made up of marine areas and islands and serves as an important sanctuary for mangroves and the biodiversity of these forests. Mangroves are especially important in northern Vietnam as they reduce damage from violent storms, prevent shoreline erosion, and act as natural water filters. The park boasts 279 terrestrial animal species, 196 species of fish, 177 corals, and 23 mangroves. It is an invaluable marine ecosystem and acts as the ‘green lungs’ for the surrounding cities and villages.

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