HSBC banks commitment to sourcing electricity from renewable energy 2016-2030

Globally, financial corporations are taking action to reduce their carbon footprint in accordance with the Paris Agreement and UN sustainable development goals. Alongside the reduction of CO2 emissions, many banks have made financial pledges to fund and faciliate more sustainable projects. In 2017, HSBC Holdings made a sustainable finance commitment to reach 100 billion U.S. dollars to be reached by 2025. As of 2019, the global bank had gone past the half way mark to hitting this goal.

As well as financial commmitments, many banks including HSBC have commited to sourcing 100 percent of their electricity needs from renewable energy sources. As of 2019, HSBC was just under one third of the way to reaching this goal which has an end date of 2030.