Commercial, Finance - May 10, 2021
HSBC to Offer Green Deposits for Commercial Clients
HSBC Bank USA has introduced Green Deposits for businesses. These deposits give commercial clients the option to support decarbonization initiatives with their cash reserves.
To ensure industry standards, the initiatives are all aligned to the HSBC Green Bond Framework and Green Loan Principles. These projects include the financing of renewable energy, energy efficiency, and clean transportation efforts.
These green deposit offerings will help HBSC towards achieving its 2050 goal of net zero emissions across all sectors in its client portfolio. They will also benefit the bank’s clients with stable principal and predictable returns. In all, by 2030 the bank will provide over $750 billion in financing and investment to help its clients lower their carbon footprint.
In addition to its Green Deposits, HSBC also has launched the Business Plan for the Planet campaign. This campaign will raise awareness about the benefits of a net zero economy, and how such an economy can be achieved.
“HSBC is innovating to drive the global transition to net zero carbon emissions, and at the heart of our ambition is a commitment to work with our customers who are on their own journey to lower emissions,” said Drew Douglas, Head of Liquidity & Cash Management, US and Canada, in a statement. “Green Deposits is another way that we are mobilizing finance to help clients meet their sustainability aspirations.”