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HSBC

Company Details

Company Name
HSBC holdings plc
No. of Employees
321,711 (2007)
Revenue
US$ 79 billion (2007)
Sector
Finance
Country
UK

Emissions Details

Scope 2 Emissions
897,000 (2007)

Notes on Emissions

Most emissions were from energy use (718,000), followed by business travel (179,000).

Up 10% on 2006

Most growth in total emissions (up from 813,000 in 2006), came from emissions generated by energy use (total and per person) and, geographically, in total emissions in the Asia Pacific region.

Total emissions per person were up 1.8%, but in North America fell by 14%.

Significant reductions over 2006 levels were achieved in emissions per person from business travel, and geographically, in total emissions in North America.

Emissions have not been verified

Det Norsk Veritas (DNV)

Climate Change Strategy Details

  • HSBC has been carbon neutral since 2005 (the first major bank and first FTSE 100 company to achieve this). HSBC’s carbon neutral strategy prioritises reduced emissions (reduced energy consumption, sourcing renewable energy where possible, and - finally - offsetting remaining emissions through high quality verified emissions reductions.
  • Global Environmental Efficiency Programme(GEEP) launched in 2007 to promote innovative projects within HSBC including the use of low carbon technologies. HSBC addresses climate change as strategic issue that poses threats and opportunities to its business.

HSBC addresses climate change as strategic issue that poses threats and opportunities to its business:

  • Appointment of Lord Stern as ‘Special Adviser on Economic Development and Climate Change to the Group Chairman’.
  • Commitment of $100m to, and active participation in, the HSBC Climate Partnership.
  • Programme to involve over 100,000 HSBC employees in climate change learning (through the HSBC Climate Partnership).
  • Research and analysis : 
    - HSBC Climate Confidence Index (July 2007)
    -  Establishment of the HSBC Climate Change Centre of Excellence in 2007   

HSBC has also adopted the Climate Principles and is working with The Climate Group and other leading financial institutions to implement the commitments outlined in the principles.

  • Investing in climate change: the HSBC Global Climate Change Benchmark (read the case study in the Climate Principles area) and the HSBC Investable Climate Indices help investors and providers of finance to measure low carbon and climate-protection investment opportunities. The HSBC Climate Change Fund is benchmarked to the index and invests in companies that are considered best placed to benefit from developing solutions to the challenges of climate change.