HSBC Embraces ‘Climate Ambition’ For Bermuda

August 19, 2021 | 1 Comment

HSBC Bermuda is integrating HSBC’s Climate Ambition into their business considerations and operations and are prioritising “financing and investment in support of the transition to a net zero global economy.”

A spokesperson said, “In October 2020, HSBC Group announced its ambitious plan to prioritise financing and investment in support of the transition to a net zero global economy to help build a thriving, resilient future for society and businesses.

“Locally, HSBC Bermuda has risen to the challenge of integrating HSBC’s Climate Ambition into its own business considerations and operations.

“To achieve this, HSBC Bermuda will be taking steps towards:

  • “1. Becoming a Net Zero Bank in its operations and supply chain by 2030, aligned with the Paris Agreement
  • “2. Supporting its portfolio of clients on their own ‘net zero’ transition journey through the provision of unique green product solutions and services to help reduce emissions
  • “3. Unlocking climate solutions through financing projects which support climate innovation, sustainable infrastructure and Nature-Based Solutions for Bermuda

“To date and in collaboration with environmental charities, HSBC have invested an estimated $750,000 in support of various local Sustainability-focused initiatives and projects:

  • Eco Schools [Green Rock | 2015-2018]
  • Cooper’s Island Restoration Project [BZS and Ministry of Environment]
  • Water Project Brackish Pond Remediation [BZS | 2014-2015]
  • Youth Water Explorer Project [Green Rock | 2015-2017]
  • Mid-Atlantic Robotics in Education Programme [BIOS | 2014-2018]

“Additionally, HSBC has reinforced its position over the years with employees on the importance of Sustainability through its:

  • Annual staff volunteerism efforts via environmental remediation projects
  • The Staff ‘Citizen Scientist’ Leadership Training initiative
  • Formation of its Sustainability Employee Resource Group
  • Achieving internationally recognised Gold LEED certification for its Headquarters building – i.e. Harbourview Centre
  • Formation of an internal Climate Business Council, and;
  • Implementation locally of the global HSBC REDUCE campaign to ensure responsible consumption of energy, water, waste, paper, travel, etc. within its operations

HSBC Bermuda’s CEO, Steve Banner said: “There is a global pivotal decade of change underway with respect to Climate Change and Sustainability.

“We recognise the responsibility and importance of HSBC’s role in Bermuda in both how the Bank adapts to such critical changes and how we continue to support the aspirations and needs of our clients and the community, within these important areas of focus. We look forward to the journey ahead as we work towards building a healthier, more resilient and sustainable future.”

“For more information on HSBC Bermuda’s Climate Ambition plans visit our Sustainability Hub.”

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  1. Angela says:

    But the problem of global climate change is one that affects us all and action will only be effective if it is taken at the international level. It is no good squabbling over who is responsible or who should pay. Whole areas of our planet could be subject to drought and starvation if the pattern of rains and monsoons were to change as a result of the destruction of forests and the accumulation of greenhouse gases. We have to look forward not backward and we shall only succeed in dealing with the problems through a vast international, co-operative effort. – Margaret Thatcher 8-Nov-1989 Speech to United Nations General Assembly.

    Over 30 years later HSBC finally step up to do the bare minimum, and want praise for that. No wonder so many environmental protest groups choose HSBC to target. I wonder which bank was behind BELCO’s new fossil fuel power station?

    Also in their list of environmental projects, note they stopped in 2018, nothing for the environment in 2019. This is just for PR and marketing, not for the planet.

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