HSBC reiterates commitment to net-zero transition

HSBC Group has reiterated its commitment towards helping businesses transition to a net-zero economy during the recent European SDG (Sustainable Development Goals) Summit 2021 which was addressed by Niccolo Polli, CEO HSBC Luxembourg. As part of its international efforts, HSBC is reducing emissions across its operations and aims to become a net-zero bank by 2030. In Malta, the bank’s Business Plan for the Planet campaign has given direct assistance to businesses in order to support their transition to a sustainable, lower carbon business model.

Mr Polli said: “The finance sector is in a unique position to help incentivise the transition to a net-zero economy through its lending practices and by privileging businesses that properly manage their environmental impact. In this context, sustainable financing can have a significant positive societal impact. HSBC in Malta and across the group is playing a committed role in this transition in partnership with our clients and customers across the globe.”

During his intervention at the European SDG Summit, Polli said, “We are mobilising finance and accelerating innovation to make this happen, working in partnership with our customers to realise the opportunity to build a more sustainable, resilient, and prosperous future. In this context, we are transforming our own operations, including supply chain, to net-zero across HSBC by 2030 or sooner.”

Malta-based NGO CORE Platform (Corporate Citizenship for Responsible Enterprises) is among the co-organisers of the European SDG Summit 2021. The CORE Platform facilitates experiences of exchange and mutual learning amongst members and stakeholders at national and international levels to promote, to debate, and to raise awareness on its key principles.

Helga Ellul, President of CORE Platform said: “Beyond the uncertainty the COVID-19 sparked, the pandemic has encouraged businesses to move towards more sustainable and more digitised operations. Through CORE Platform’s strong connection with CSR Europe, we are prioritising sustainable development to ensure that we, as a business community, support each other, protect the vulnerable, and safeguard the environment.”