HSBC has become the first major investment bank to become carbon-neutral. The bank has reduced its net CO2 emissions to zero by reducing energy use, buying 'green' electricity and then offsetting the remaining CO2 emissions by investing in carbon projects.
HSBC measured its emissions by taking into account its worldwide electricity, gas, fuel oil and business travel expenditure, arriving at an estimate of 170,000 tonnes for the last three months of 2005. To offset these emissions, HSBC has
- Banks hope final FRTB rules will ease NMRF burden
- Functional programming reaches for stardom in finance
- Asia moves: Natixis sales head moves to Barclays, new banking head for StanChart Singapore, and more
- Buy-siders eye ways to get ahead of US resolution stay rules
- Brexit novations ‘on hold’ to gain reg relief