HSBC
chain , accounting for around 78 %. Second comes the energy output of HSBC ’ s many buildings , and the third being travel .
The COVID-19 pandemic has certainly caused a shift in business travel behaviours which could be here to stay , with no need for executives to fly around the world for face-to-face meetings that have made a successful transition to virtual .
“ I think it ' s realistic ,” says Fisher . “ I was on the phone with a company yesterday that had set a net zero target by 2022 and they ' re already there . While they ' re not a financial services company , they have a similar energy footprint to ours . The best advice I could give is don ' t set a long-term goal alone . Success is in interim micro goals . Don ’ t just set an aggressive goal by a certain end date , set achievable micro goals .”
HSBC has been widely recognised as a leader in sustainable finance – but what has it done to deserve such praise , and what does it do that makes it stand above the efforts of its competitors ? Six years ago when Fisher walked through the doors , sustainable finance meant green bonds , and that was pretty much it , but HSBC was the world leader . However , since then , its bankers have been creatively uncovering new and exciting financial products and incentives – that Fisher says are “ going to change the world and get us where we need to go ”.
“ In 2017 , we did the world ' s first SDG bond that instead of being green proceeds , it was around equality and poverty and all these things that now everyone ' s talking about . It was three times over-subscribed ,” Fisher explains .
“ Last year during the height of the pandemic , we did the world ' s first plastic waste reduction bond . But it ' s not just bonds . Being a bank with its roots in trade , we are the expert in how trade routes and supply chains work .
52 July 2021