Standing, esteem (6)
I believe the answer is:
repute
This clue is a double definition.
'standing' is the first definition.
(I know that repute is a type of honor)
'esteem' is the second definition.
(I know that esteem can be written as repute)
(Other definitions for repute that I've seen before include "Public estimation" , "What is generally believed about a person" , "General impression given" , "General view or opinion of an individual, may be ill" , "Distinction" .)