HSBC not banking on coal power stations

The new policy will apply globally except for three countries where projects may be given exemption “if no reasonable energy alternative can be found”

HSBC issues $1bn green bond

HSBC has issued a $1 billion (£750m) corporate sustainable development bond. The bank says the bond, based on the UN’s Sustainable Development Goals (SDGs), aims to finance projects benefiting communities and the environment by improving access to education, healthcare, fresh water and sanitation. The money will also be used to increase the share of renewables […]

HSBC pledges $100bn to fight climate change

HSBC has pledged to provide $100 billion (£76bn) in sustainable financing by 2025 in a bid to fight climate change. It plans to intensify support for clean energy and low carbon technologies as well as projects that support the UN’s Sustainable Development Goals. The banking giant also aims to source 100% of its electricity from […]

Crude oil prices stay strong

Crude oil prices remain strong, thanks to a weak dollar and strong demand. That’s according to a new report from global bank HSBC, which shows Brent Crude has recovered by around $10 (£7.4) a barrel from lows earlier this year. The strength of demand has been a key feature with year-on-year demand growth at its […]

Poor carbon disclosure ‘hampering green investments’

Poor carbon disclosure among big companies is hampering green investments. Two thirds of institutional investors want to invest more money into low carbon markets but a lack of available information on companies’ climate credentials is getting in the way, according to a new survey from HSBC. The bank contacted around 300 investment institutes and 300 corporate firms. Results […]

Four major UK banks ‘still investing heavily in fossil fuels’

Four big UK banks are said to be investing “heavily” in fossil fuels than in clean energy projects. Barclays, RBS, HSBC and Lloyds have been given a ‘D’ grade for a lack of climate policies and exposure to fossil fuels by charity Christian Aid. Its new report assessed policies of banks in relation to climate […]

Billions worth of climate bonds available worldwide

The global climate-aligned bonds market is worth $694 billion (£527.2bn). That’s an increase of $96 billion (£72.9bn) compared to last year, according to a report by the Climate Bonds Initiative commissioned by HSBC. It quantifies bonds that are being used to finance low carbon and climate resilient infrastructure. The report found more than 3,500 bonds […]

HSBC commits $1bn in green investments

HSBC has pledged to commit $1 billion (£0.64bn) on green projects. The bank will invest in “high quality liquid assets” in the form of green, social and sustainability bonds. They will be used to fund renewable and energy efficiency projects as well as clean transportation and climate change adaptation. Spencer Lake, Global Head of Capital Financing […]

Armenia gets $10m for energy efficiency

A London-based bank is providing a $10 million (£7.3m) loan to help boost the green energy sector in Armenia. The funds will allow HSBC Armenia to lend companies that wish to invest in their equipment, machinery or other assets aimed at achieving overall energy efficiency and reductions of more than 20% of their energy usage. […]

Big businesses form green UK finance company

A group of businesses have formed a collective to work with government to help finance the Green Deal. The Green Deal Finance Consortium will provide finance to all Green Deal Providers by accessing the cheapest sources of finance in the market at the highest possible credit rating. The Department of Energy and Climate Change say […]