The world's local bank
HSBC tops Carbon Disclosure Project Index
19 September 2006
HSBC is leading the way in its response to the threat of climate change, according to a report issued by the Carbon Disclosure Project (CDP).
The world's local bank took top spot in the Banks and Diversified Financials Sector of the CDP's latest Climate Leadership Index, issued on 18 September.
The CDP promotes awareness of business implications of climate change by encouraging the world's leading companies to disclose information about their greenhouse gas emissions by responding to an annual questionnaire.
This year's Climate Leadership Index rated questionnaire respondents on their strategic awareness of climate risks and awareness; management accountability and responsibility; emissions management and reporting; emissions trading; emission reduction programmes and targets.
Jon Williams, Head of Group Sustainable Development, said: "As the world's first , and FT Sustainable Bank of the Year, we are working to reduce our own carbon emissions, and increasingly to seize the opportunities that a shift to a carbon-constrained economy will bring.
"As well as giving a transparent assessment of carbon risks and opportunities across the sectors, the index is an important benchmark for our own investment policy."
HSBC believes that climate change represents the largest single environmental challenge this century, and that financial institutions will play an important role in the shift to cleaner energy.
Earlier in 2006, HSBC Group launched its Carbon Finance Strategy, outlining how it will advise clients on potential risks and opportunities relating to climate change. In June, as part of its aspiration to be among the leading financial institutions of a lower carbon economy, HSBC published an Energy Sector Risk Policy to advise relationship managers with clients in the energy sector on environmental and social standards. The Policy is the fourth such guideline issued by the Group since 2004.
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HSBC's 2005 Corporate Responsibility Report
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