HSBC is first major bank to go ‘carbon neutral’.

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 invested in four carbon offset suppliers in New Zealand, Australia, India and Germany, at a total cost of $750,000, or $4.43 per tonne. The emission reductions created by the projects will be verified by third party environmental organisations.


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