Climate Change
Tackling climate change will require a concerted effort between government, business and individuals. Innovation in renewable energy and clean technology is required to help reduce the world's dependence on carbon intensive fuels. Through lending, investment and insurance products and services, HSBC anticipates playing a leading role in the transition to a lower carbon economy over the long term.
The impacts of climate change can already be seen and there will be a need to invest in adaptation, particularly in the developing world. There is no question that climate change will continue to impact our customers and our own operations, which is why the issue is central to our strategy.
Key actions that HSBC has undertaken to prepare the business and our customers for the impacts of climate change include:
- The appointment of Lord Nicholas Stern, world renowned economist on climate change, as Special Advisor on Economic Development and Climate Change to the Group Chairman to provide strategic guidance to the business.
- The HSBC Climate Change Centre of Excellence, established in 2007, investigates the likely economic risks and opportunities of climate change for the financial markets.
- HSBC adopted the Climate Principles, a voluntary framework for the financial services sector to guide its response to climate change and the move to a lower carbon economy.
- The HSBC Climate Partnership is a five year, US$100 million commitment to work with four leading climate NGOs and engage HSBC employees in understanding and taking action on carbon emissions.
- Building on our commitment to being a carbon neutral bank, HSBC sets targets to continue to reduce carbon emissions from energy and business air travel.
- The HSBC Global Climate Change Benchmark Index, launched in 2007 lists companies focused on developing solutions to combat the effects of climate change across many business sectors.
- The risks from climate change are being incorporated into the business systems to protect our buildings, people and operations from natural hazards.
Related case studies
Working with government
Partnerships for Renewables (PfR) aims to develop a (500 megawatt) portfolio of renewables projects using public sector land across the UK.
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