10 March 2005
The Hongkong and Shanghai Banking Corporation Limited has replaced its head office building’s air conditioning coolers with new, energy efficient versions.
Along with a substantial energy saving, the move will produce cost savings of up to HK$1.1 million per year and an estimated HK$16 million over the lifetime of the new technology.
The technology upgrade means that the bank also qualifies for a HK$1million rebate from the Hong Kong Electric Company, as part of its programme to encourage non-residential customers to install energy saving equipment.
In December 2004, HSBC became the world’s first major bank to commit to going carbon neutral by reducing its energy use, buying green electricity, and offsetting its remaining carbon dioxide emissions. The programme, part of a package of environmental measures introduced by HSBC to help tackle climate change, may cost the bank up to US$7 million in the first year.
