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HSBC sets out net zero ambition

On October 9 2020, HSBC announced it is setting out an ambitious plan to prioritise financing and investment that supports the transition to a net zero global economy – and helps to build a thriving, resilient future for society and businesses.

At the heart of the plan is a pledge to reduce financed emissions from our portfolio of customers to net zero by 2050 or sooner, in line with the goals of the Paris Agreement.

To do this, we’re intensifying our support for customers to switch to more sustainable ways of doing business. We believe we have the scale and global reach to play a leading role in advising them on their journey towards net zero and have an ambition to provide between USD750 billion and USD1 trillion of finance and investment by 2030 to help them achieve this goal.

HSBC Australia CEO Kaber McLean said:

Our new commitments allow us to continue our contribution to a future in which economic growth in Australia and sustainability go hand in hand. We can now provide more sustainable finance to local business, and scale up investment in nature-based solutions which support communities while also facilitating the transition to net zero.

Our new priorities:

  1. Becoming a net zero bank
  2. Supporting our customers to thrive through transition, including by providing between USD750 billion and USD1 trillion of finance and investment between now and 2030
  3. Unlocking next-generation climate solutions

Australia's green business opportunity

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