HSBC lays out $100bn sustainable investment target for 2025
UK bank HSBC is set to strengthen its support for renewable energy and low-carbon technology, aiming to invest $100bn in the field by 2025. The announcement comes alongside a number of other environmental commitments HSBC is making as part of an update to the bank's social, environmental and governance responsibilities. These include a pledge to source all of the bank's electricity renewably by 2030, and to reign in its financing of coal-fired power stations in developed countries.
HSBC Holdings plc (LON:HSBA) has set a goal to provide USD 100 billion (EUR 86bn) in sustainable financing and investment by 2025.

The UK bank said it will increase its support for clean energy and lower-carbon technologies, and projects in line with the UN's Sustainable Development Goals.

HSBC unveiled the goal today along with four other commitments as part of an update on measures related to its social, environmental and governance (ESG) responsibilities.

The other objectives include sourcing 90% of the group's electricity from renewable sources by 2025 and 100% by 2030. The bank has also pledged to reduce its exposure to thermal coal, which includes stopping to finance new coal-fired power plants in developed countries and thermal coal mines around the world.

HSBC further promises to improve transparency on climate-related risks and opportunities and to promote the development of industry-wide definitions and standards about sustainable finance and investment.

(USD 1 = EUR 0.862)

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