HSBC commits €86bn to tackle climate change, biggest outlay by a European lender

By Johan De Mulder

HSBC has pledged to provide €86bn worth of finance to help transition to a low-carbon economy. 

The bank, the biggest in Europe, will use the capital to further its support for clean energy and lower-carbon technologies in communities all over the world.

HSBC's pledge is one of five commitments laid out in a statement on Monday as it looks to support the implementation of the United Nation's Sustainable Development Goals. 

See also:


It is also aiming to use renewable sources only for its energy by 2030, while in addition looking to 'lead and shape' future debate about sustainable finance and investment. 

"For more than a decade, HSBC has helped clients break new ground in the green bond markets in Europe and Asia, and to finance some of the biggest climate-friendly infrastructure projects in the world," said outgoing Group Chief Executive Stuart Gulliver.

"The commitment that we are announcing today acknowledges the scale of the challenge in making a transition to a low-carbon future. We are committed to being a leading global partner to the public and private sectors as they make that transition."

In July, JP Morgan Chase announced a $200bn clean finance fund and reaffirmed its commitment to using 100% renewable power by 2020.

Share

Featured Articles

SAP creates new EMEA region and announces new President

SAP has announced it has appointed a new President for a newly-created EMEA region, aiming to make the most of the opportunities of cloud and AI technology

How SAP is facilitating continuous business transformation

Technology giant SAP has expanded its portfolio with the acquisition of LeanIX, a leader in enterprise architecture management (EAM) software

Siemens and Microsoft: Driving cross-industry AI adoption

To help businesses achieve increased productivity, Siemens and Microsoft are deepening their partnership by showcasing the benefits of generative AI

Sustainability must become central to corporate strategy

Sustainability

The endless benefits of putting your people first

Leadership & Strategy

Working from anywhere: SAP uncovers secret life of employees

Human Capital