HSBC allocates $1bn to green bond portfolio

HSBC has announced it will commit $1bn to a green bond portfolio that will invest in high quality liquid assets in the form of green, social or sustainability bonds.

The firm said these bonds will be in line with the Green Bond Principles and will serve to fund projects in various sectors such as renewable energy, energy efficiency, clean transportation and climate change adaption. It will also finance SME in sectors like public transport, education and healthcare.

The bank, whose asset management arm has recently signed the Montreal Carbon Pledge, is a member of numerous industry bodies focusing on climate change.

Spencer Lake, global head of Capital Financing at HSBC, said: “HSBC is committed to the green bond market, is a founding member of the Green Bond Principles and has been extremely active in supporting our clients in issuing green bonds. HSBC understands that action to support the transition to a low carbon economy also brings social and economic benefits.

“We are building our business for the long term and over the last 10 years HSBC has developed its approach to climate change. The bank integrates climate policy, insight and education into the group’s global businesses and operations. Sustainability underpins our strategic priorities and enables us to fulfill our purpose as an international bank and this is yet another commitment to evolving our sustainable business.”

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