Hsbc Holdings

HSBC Holdings, a Commercial Banking firm based in GB, reported total carbon emissions of approximately 1.08 billion kg CO2e in 2025. This includes Scope 1 emissions of approximately 16.7 million kg CO2e, Scope 2 market-based emissions of approximately 19.9 million kg CO2e, and Scope 3 emissions of approximately 1.04 billion kg CO2e. Key categories within Scope 3 include purchased goods and services at approximately 807.3 million kg CO2e, capital goods at approximately 166.0 million kg CO2e, and business travel at approximately 67.0 million kg CO2e.

Looking back, HSBC Holdings's total emissions have seen some fluctuations:

• In 2024, total emissions were approximately 1.23 billion kg CO2e.
• In 2023, total emissions were approximately 1.30 billion kg CO2e.
• In 2022, total emissions were approximately 1.29 billion kg CO2e.
• In 2021, total emissions were approximately 133.6 million kg CO2e (note: Scope 3 total is not available for this year, but individual categories are provided).
• In 2020, total emissions were approximately 444.0 million kg CO2e.
• In 2019, total emissions were approximately 1.77 billion kg CO2e.

HSBC Holdings has set ambitious climate commitments. The company aims to achieve net zero emissions in its operations and supply chain by 2050, with an interim target to reduce emissions across its operations, business travel, and supply chain by approximately 40% by 2030, compared to a 2019 baseline. The company also states an ambition to become net zero in its operations and supply chain by 2030.

Specific reduction targets include:

• A 34% reduction in absolute on-balance sheet financed emissions from the oil and gas sector by 2030, against a 2019 baseline.
• An on-balance sheet financed emissions intensity target of 0.14 million tonnes of CO2e per terawatt-hour for the power and utilities sector by 2030, representing a 75% reduction from the 2019 baseline of 0.55 Mt CO2e/TWh.
• An absolute reduction target of 70% for on-balance sheet financed emissions by 2030, relative to a re-baselined 2020 figure of 4.7 million tonnes of CO2e (Scope 1 and Scope 2).
• A target to reduce the emissions intensity of its iron, steel, and aluminium portfolio to 1.05 tonnes CO2 per tonne of metal produced by 2030, a 42% reduction from the 2019 baseline. This includes Scope 1 and 2 emissions for midstream material production.
• A reduction in Scope 1 and 2 emissions of more than 90% by 2030 compared with a 2019 baseline.
• A 57.3% reduction in absolute operational greenhouse gas emissions from a 2019 baseline by 2030 for Scope 1 and Scope 2.
• An ambition to halve travel emissions by 2030, compared with pre-pandemic levels (2019 baseline) for Scope 1 and Scope 2.

HSBC Holdings also aims to align its financed emissions to net zero by 2050 or sooner, in line with the IEA Net Zero Emissions by 2050 scenario, and plans to refrain from using carbon offsets to meet its net-zero portfolio financed emissions target by 2050 or related interim 2030 sectoral financed emissions targets. Earlier targets included a 6% carbon dioxide reduction for 2008-2011 (Scope 1 and 2).