The building that’s set to cut 108,000kg of carbon
Solar panels recently installed at an HSBC building in Hong Kong could cut carbon emissions by 108,000kg a year as part of the bank’s climate strategy.
We’ve installed 750 panels on the rooftop of the facility in Tseung Kwan O, one of the many steps we’re taking to help build a carbon net zero global economy.
Designed, built and operated by a Hong Kong company, the solar panels can generate about 221,000kWh of electricity annually – enough energy to power 54 homes. It will also generate revenue for HSBC. The panels on the 2,300m2 rooftop area are connected to the grid, enabling HSBC to generate revenue via a feed-in tariff.
Luanne Lim, Chief Operating Officer, HSBC Hong Kong, said: “Businesses can play a key role in tackling climate change, including the decisions we make about our premises. We look forward to replicating this success in Tseung Kwan O across our facilities in Hong Kong.”
A greener tomorrow
HSBC is committed to using 100 per cent renewable electricity by 2030. By the end of 2019, we had reached 29.4 per cent. We are a member of the RE100 global initiative, which brings together major businesses aiming to switch to renewable energy.
Register to receive insight and analysis on the latest trends from HSBC executives, economists and experts – direct to your inbox.
The Hong Kong initiative is the latest renewable project we have installed in our premises in 2020. In October, HSBC Oman unveiled a solar energy farm (opens in new window) (opens in new window) (opens in new window) (opens in new window) in the car park of its head office in Muscat. More than 220 solar panel grids will generate 600 kilowatts of energy, optimising energy costs and reducing our reliance on traditionally generated power.
Dr Saud Al Shidhani, General Manager and Chief Operating Officer of HSBC Oman, said: “With this significant sustainability investment, we have become the first bank and one of the first large corporates in the Sultanate of Oman to utilise solar energy on this scale.”
Our renewable energy goal is a key part of our commitment to become net zero carbon in our own operations and supply chain by 2030. In addition, our three-part climate strategy sets out our ambition to:
- Support our portfolio of customers to transition to a net zero global economy
- Accelerate investment in renewable energy, clean technology and nature-based solutions
HSBC’s climate plan explained
Get the detail on our work to support the global transition to a net zero carbon economy.
Becoming a net zero bank
We are committed to reducing our carbon footprint through our operations, supply chain and financing portfolio.
We’re taking action on ESG
A new climate ambition and extra support for customers and colleagues are some of HSBC’s latest environmental, social and governance (ESG) highlights.
HSBC helps UK raise funds to fight climate change
We are advising the UK government on its first ever sovereign green bond.
Cutting carbon for companies
HSBC has led a financing deal that will pay for sectors including construction and utilities to reduce their emissions in China and beyond.