30 May 2007

Global Climate Change: HSBC Backs $100m Climate Partnership

From the BBC Wednesday: HSBC is setting aside $100m (£50m) for an initiative to tackle climate change.

The funding by the UK's largest bank will help charities and environmental groups to research some of the global causes and effects of climate change.

The partnership will look at ways to protect the world's most important rivers and identify how cities can respond to environmental threats.

HSBC also said it would create "a green taskforce", to ensure climate awareness was central to its own business.

HSBC is the latest UK company to pledge changes to the way it operates in the face of calls for big business to do more to prioritise environmental concerns.

HSBC is teaming up with climate campaigners the Climate Group, environmental groups the Earthwatch Institute and the Smithsonian Tropical Research Institute (STRI), and the conservation charity WWF in a five-year partnership

"We believe we can tackle the causes and impacts of climate change," said HSBC chairman Stephen Green.

HSBC, which will spend $5m of the $100m on managing the project, said it would enable the four bodies to expand their climate-related research and undertake work in new countries such as China and India.

Read the full article in BBC: HSBC Climate

1 comment:

Lorra said...

The global climate change is a rather serious problem, and I am very glad that companies and the society are paying attention to this problem. I wish there were more banks like HSBC.