HSBC Needs To Reduce Emphasis On Climate Change
Published: 08 September 2010
Access This Report
This report is available to Verdantix clients with a Knowledge Service Subscription.
Verdantix clients:
Not a client but want access
to this
report
?
10 pages, 4 figures
Executive Summary
HSBC is one of the largest banking and financial services organizations in the world, with revenues of $78.6 billion and 302,000 employees in 2009. In 2005 HSBC kick-started its sustainability programme at its internal global environment conference and in 2007 the firm established its corporate sustainability department. HSBC’s positions itself as a bank addressing sustainability strategy by linking the brand to the battle against climate change, dedicating a team to sustainability, and committing to efforts to tackle its own environmental footprint. HSBC has introduced a large portfolio of initiatives which enhances the HSBC brand, providing direct financing to projects that reduce climate change risk, cutting costs with energy efficiency programmes, and generating revenues from sustainable products and investments. HSBC should reduce its emphasis on climate change because carbon neutrality is out of favour with business leaders and stakeholders, and policy action slowed to a standstill during the recession.
TABLE OF CONTENTS
HSBC NEEDS TO REDUCE EMPHASIS ON CLIMATE CHANGE
Sustainability Strategy Focuses On Climate Change Opportunities
HSBC’s Strategy Encompasses A Broad Portfolio Of Sustainability Initiatives
HSBC Should Shift Its Emphasis Away From Climate Change
TABLE OF FIGURES
Figure 1. HSBC Targets Sustainability Improvements Between 2008 And 2011
Figure 2. HSBC’s Broad Portfolio Of Initiatives Focus On Climate Change
Figure 3. From 2004 To 2009 HSBC’s CO2 Emissions Increased At A CAGR Of 11%
Figure 4. HSBC Purchases RECs And VERs To Achieve Carbon Neutrality
COMPANIES MENTIONED
Better Place, BNP Paribas, CA, Carbon Trust, Crédit Agricole, Citigroup, Driver Jonas Deloitte, HP, IBM, JP Morgan, Jones Lang LaSalle, McKinsey, Munich Re, PwC , Standard Chartered, Swiss Re, Yahoo!, WWF