July 18, 2007—HSBC, reportedly the world’s first major bank to become carbon neutral, has committed a further $90 million over five years to reduce the bank’s impact on the environment through a series of initiatives, including the introduction of renewable energy technology, water and waste reduction programs, and employee involvement.
The environmental efficiency initiatives focus on these key areas:
- Benchmarking—developing flagship buildings to recognized environmental standards that are independently certified;
- Footprint management and innovation—reducing energy and water consumption, business travel, CO2 emissions, paper use, and waste production;
- Behavior—training, awareness raising, flexible working practices; and
- Environmental Management Systems—systems and processes optimizing the efficiency of the bank’s operations.
- Designing and building HSBC’s first “zero carbon” branch in Greece, New York, which optimizes energy efficiency using geothermal ground source heat pumps;
- Installing solar photovoltaic panels at the First Direct offices in Leeds, UK;
- Introducing a bio-diesel plant for back-up generators in the Global Technology Centre, Pune, India; and
- Reducing waste by installing composting vessels in Hong Kong to recycle organic kitchen waste; and removing the majority of personal desk bins at the global HQ in London in favor of a full recycling system.
Involving HSBC’s global workforce of 315,000 employees will be a key factor in the success of the Global Environmental Efficiency Program, notes HSBC. The HSBC Climate Partnership, a separate $100 million, five-year program launched in May will facilitate employee involvement.
For more information on the new program or HSBC’s other sustainability initiatives, visit HSBC’s Corporate Responsibility Web site.
