HSBC commits USD1 billion to green bond portfolio
HSBC today announced its pledge to commit USD1 billion to a green bond portfolio which will invest in high quality liquid assets in the form of green, social or sustainability bonds. These bonds will be aligned with the Green Bond Principles and will be used to fund projects in sectors such as renewable energy, energy efficiency, clean transportation and climate change adaption as well as SME financing in sectors such public transport, education and healthcare.
The bank is a member of several industry bodies focused on climate change, such as the ICMA Green Bond Principles Executive Committee, Green Growth Platform Financial Advisory Council, the Climate Bonds Initiative, China's Green Finance Committee and the Equator Principles Association. In September of this year, Stuart Gulliver, HSBC Group CEO announced during New York Climate Week that HSBC Asset Management has signed the Montreal Carbon Pledge, which commits the bank to measure and publicly disclose the carbon footprint of our clients’ investment portfolios on an annual basis. Today’s pledge further affirms the group’s commitments to doing green business in addition to supporting and advising its clients to focus on sustainable financing.
Spencer Lake, Global Head of Capital Financing said: “HSBC is committed to the green bond market, is a founding member of the Green Bond Principles and has been extremely active in supporting our clients in issuing green bonds. HSBC understands that action to support the transition to a low carbon economy also brings social and economic benefits. We are building our business for the long term and over the last 10 years HSBC has developed its approach to climate change. The bank integrates climate policy, insight and education into the Group’s global businesses and operations. Sustainability underpins our strategic priorities and enables us to fulfil our purpose as an international bank and this is yet another commitment to evolving our sustainable business.
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