HSBC has a strong commitment to sustainable development
HSBC has received accreditation to work with the United Nations’ Green Climate Fund (GCF), which helps developing countries reduce greenhouse gas emissions.
The GCF was established by 194 governments and is guided by the principles of the UN Framework Convention on Climate Change. It invests in projects designed to cut carbon emissions and help vulnerable societies adapt to the consequences of climate change. The GCF has previously approved funding for projects relating to energy efficiency, urban wastewater management and early warning systems for climate-related disasters.
Stuart Gulliver, HSBC Group Chief Executive, said: “There is a business imperative as well as a moral imperative to get involved in green financing. HSBC is delighted to have gained GCF accreditation and looks forward to working with the GCF, and with the public and private sectors, to create a smooth transition to a low-carbon future.”
HSBC’s global presence, strength in emerging markets and expertise in financing projects mean it is well placed to help the GCF in its work.
Mr Gulliver added: “HSBC has a strong commitment to sustainable development and will continue to work with customers, clients, governments and business to respond to the climate challenge.”
Read HSBC gains Green Climate Fund accreditation.