The Adaptation Economy is based on in-depth research commissioned by Standard Chartered. The research was designed by Standard Chartered and Man Bites Dog.
Forward-looking statements
This study may contain ‘forward-looking statements’ that are based on current expectations or beliefs, as well as assumptions about future events. These forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. Forward-looking statements often use words such as ‘may’, ‘could’, ‘will’, ‘expect’, ‘intend’, ‘estimate’, ‘anticipate’, ‘believe’, ‘plan’, ‘seek’, ‘continue’ or other words of similar meaning.
Any forward-looking statements contained in this study are included to assist our stakeholders in understanding the ways we intend to address climate-related risks and opportunities. This information may not be appropriate for other purposes.
By their very nature, forward-looking statements are subject to known and unknown risks and uncertainties and can be affected by other factors that could cause actual results, and the Group’s plans and objectives, to differ materially from those expressed or implied in the forward-looking statements. Recipients should not place reliance on, and are cautioned about relying on, any forward-looking statements. There are several factors which could cause actual results to differ materially from those expressed or implied in forward-looking statements. The factors that could cause actual results to differ materially from those described in the forward-looking statements include (but are not limited to): changes in global, political, economic, business, competitive and market forces or conditions; future exchange and interest rates; changes in environmental, social or physical risks; legislative, regulatory and policy developments, including regulatory measures addressing climate change; the development of standards and interpretations, including evolving practices in Environmental, Social and Governance reporting; the ability of the Group to mitigate the impacts of climate change effectively; risks arising out of health crises and pandemics; changes in tax rates, future business combinations or dispositions; and other factors specific to the Group. Any forward-looking statement contained in this study is based on past or current trends and/or activities of the Group and should not be taken as a representation that such trends or activities will continue in the future.
No statement in this study is intended to be a profit forecast or to imply that the earnings of the Group for the current year or future years will necessarily match or exceed the historical or published earnings of the Group. Each forward-looking statement speaks only as of the date of the particular statement. Except as required by any applicable laws or regulations, the Group expressly disclaims any obligation to revise or update any forward-looking statement contained within this study, regardless of whether those statements are affected as a result of new information, future events or otherwise.
Please refer to the Group’s latest Annual Report for a discussion of certain of the risks and factors that could cause actual results, and the Group’s plans and objectives, to differ materially from those expressed or implied in any forward-looking statements.
Important Notice – Basis of Preparation and Caution Regarding Data Limitations
This study has been prepared by Standard Chartered Bank (SCB), a firm authorised by the United Kingdom’s Prudential Regulation Authority and regulated by the United Kingdom’s Financial Conduct Authority and Prudential Regulation Authority.
The reader should be aware that this study and the information contained within it have been prepared on the following basis:
This study and its contents are unaudited;
All material, positions and statements set out and cross-referred to in this study are subject to change without notice;
The material in this study does not constitute any investment, accounting, legal, regulatory or tax advice or an invitation or recommendation to enter into any transaction;
This study may have been prepared using models, methodologies and data which are subject to certain limitations. These limitations include: a lack of reliable data (due, amongst other things, to developing measurement technologies and analytical methodologies); a lack of standardisation of data (given, amongst other things, the lack of international coordination on data and methodology standards); and future uncertainty (due, amongst other things, to changing projections relating to technological development and global and regional laws, regulations and policies, and the inability to make use of strong historical data);
Some of the models, external data and methodologies used in this study are subject to adjustment which is beyond our control;
Any opinions and estimates should be regarded as indicative, preliminary and for illustrative purposes only. Expected and actual outcomes may differ from those set out in the study (as explained in the “Forward-looking statements” section);
Some of the information appearing in this study may have been obtained from public and other sources and, while the Group believes such information to be reliable, it has not been independently verified by the Group and no representation or warranty is made by the Group as to its quality, completeness, accuracy, fitness for a particular purpose or non-infringement of such information;
For the purposes of this study, a number of key judgements and assumptions have been made. It is possible that the assumptions drawn, and the judgement exercised may subsequently turn out to be inaccurate. The judgements and data presented in this study are not a substitute for judgements and analysis made independently by the reader;
Any opinions or views of third parties expressed in this study are those of the third parties identified, and not of the Group, its affiliates, directors, officers, employees or agents. By incorporating or referring to opinions and views of third parties, the Group is not, in any way, endorsing or supporting such opinions or views;
Whilst the Group bears primary responsibility for this study, it does not accept responsibility for the external input provided by any third parties for the purposes of developing the study;
The data contained or cross-referred to in this study reflects best available information and estimates at the relevant time;
Where the Group has used any methodology and tools developed by a third party, the application of the methodology (or consequences of its application) shall not be interpreted as conflicting with any legal or contractual obligations and such legal or contractual obligations shall take precedence over the application of the methodology;
Where the Group has used any underlying data provided or sourced by a third party, the use of the data shall not be interpreted as conflicting with any legal or contractual obligations and such legal or contractual obligations shall take precedence over the use of the data;
This Important Notice is not limited in applicability to those sections of the study where limitations to data, metrics and methodologies are identified and where this Important Notice is referenced. This Important Notice applies to the whole study;
Further development of reporting, standards or other principles could impact this study or any metrics, data and targets included in this study (it being noted that Environmental, Social and Governance reporting and standards are subject to rapid change and development); and
While all reasonable care has been taken in preparing this study, neither the Group nor any of its affiliates, directors, officers, employees or agents make any representation or warranty as to its quality, accuracy or completeness, and they accept no responsibility or liability for the contents of this material, including any errors of fact, omission or opinion expressed.
You are advised to exercise your own independent judgement (with the advice of your professional advisers as necessary) with respect to the risks and consequences of any matter contained in this study.
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