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Environment
HSBC is helping to tackle one of the world’s biggest environmental challenges, climate change, by becoming the first major bank to go carbon neutral. Our carbon neutrality plan is being implemented worldwide under the direct supervision of the Group Chief Executive.
HSBC's Carbon Management Task Force is using three main methods to achieve carbon neutrality (6 page pdf 351k):
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Energy efficiency
Reducing pollution through improved environmental performance also reduces cost. Investments being made across the HSBC Group to improve energy efficiency include low-energy lighting, variable speed drives in air conditioners and more efficient heat management systems. -
Green electricity
In Australia, Brazil, the UK and the US, HSBC is buying 'green electricity', generated without the use of fossil fuels. -
Offsetting
We must offset our remaining carbon dioxide emissions using carbon 'allowances' or 'credits'.
Our carbon neutral commitment is part of a package of environmental measures that also includes a three-year £650,000 (US$1.2 million) research partnership; HSBC Partnership in Environmental Innovation, with University of Newcastle Upon Tyne and the University of East Anglia in the UK.
2006 CR Report
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