GlobalData offers a comprehensive analysis of HSBC, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of Net Zero and associated ESG keywords, GlobalData delivers valuable information on HSBC’s ESG performance. GlobalData’s company profile on HSBC offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.

HSBC has committed to achieving net zero in its operations and its supply chain by 2030, and align its financed emissions to net zero by 2050. HSBC's latest filings mentioned the keywords 'Emissions' and 'Carbon' most number of times in relation to 'Net Zero'.

The company has invested in sustainable buildings and efficient technology to support its carbon net-zero commitments. In October 2020, the company announced its ambition to reduce its energy consumption by 50% by 2030, against a 2019 baseline, and in 2022 the company achieved 24%. Since 2020, the company has provided and facilitated $210.7bn of sustainable finance and investment towards its ambition of $750bn to $1tn by 2030.

HSBC has reported its GHG emissions data, including scope 1, scope 2, and scope 3 emissions. In 2022, the company reported its Scope 1 energy and travel GHG emissions of 19,000 tonnes CO2e and Scope 2 GHG emissions of 224,000 tonnes CO2e, and Scope 3 GHG emissions of 42,000 tonnes CO2e. Moreover, in 2022, the company reduced its car fleet size by 24% and company's travel emissions remained below 50% of pre-pandemic levels in 2019. The company has taken steps to reduce emissions, including estimating and reporting material upstream and downstream emissions, investing in renewable energy certificates, and signing power purchase agreements. HSBC has also reviewed and expanded on metrics for reporting environmental, social, and governance (ESG) performance and takes the views of its stakeholders into account while doing so.

HSBC has invested in sustainable buildings, efficient technology, and renewable energy certificates to reduce emissions. The company has also signed power purchase agreements and taken steps to estimate and report material upstream and downstream emissions. HSBC has disclosed its GHG emissions of 1.30 tonnes CO2e per FTE in 2022 and is committed to achieving net-zero emissions before 2050 in line with the goals of the Paris Agreement.

In conclusion, HSBC has committed to achieving net-zero emissions and has reported its scope 1, scope 2, and scope 3 emissions. The company continues to work to improve its data management processes and are setting targets to align its provision of finance with the goals and timelines of the Paris Agreement. Additionally, the company continued working to review and update its wider financing and investment policies critical to achieving net zero by 2050, which included publishing an updated energy policy and thermal coal phase-out policy in December 2022. The company is committed to working with peers and industry bodies to help mobilise the financial services industry to take action on climate change, biodiversity and nature.

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GlobalData’s Company Filings Analytics uses machine learning to uncover key insights and track sentiment across millions of regulatory filings and other corporate disclosures for thousands of companies representing the world’s largest industries. This analysis is combined with crucial details on strategic and investment priorities, innovation strategies, and CXO insights to provide comprehensive company profiles.