The Hongkong and Shanghai Banking Corporation Limited Sustainability Profile
The Hongkong and Shanghai Banking Corporation Limited, commonly known as HSBC, is a leading global banking and financial services organisation headquartered in Hong Kong. Founded in 1865, HSBC has established a strong presence across Asia, Europe, the Americas, the Middle East, and Africa, making it one of the world's largest banking institutions. HSBC operates primarily in the banking industry, offering a diverse range of services including retail banking, wealth management, commercial banking, and global banking and markets. Its unique approach combines local expertise with global reach, catering to millions of customers worldwide. Notable achievements include its pivotal role in facilitating international trade and investment, solidifying its position as a trusted financial partner. With a commitment to innovation and sustainability, HSBC continues to adapt to the evolving financial landscape, maintaining its status as a key player in the global banking sector.
DitchCarbon Score
How does The Hongkong and Shanghai Banking Corporation Limited's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Financial Intermediation industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
The Hongkong and Shanghai Banking Corporation Limited's score of 75 is higher than 86% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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The Hongkong and Shanghai Banking Corporation Limited, headquartered in Hong Kong, currently does not have specific carbon emissions data available for the most recent year. However, the bank is part of a corporate family that includes HSBC Holdings plc, from which it inherits emissions data and climate commitments. As a current subsidiary of HSBC Holdings plc, The Hongkong and Shanghai Banking Corporation Limited aligns with the broader sustainability initiatives of its parent company. HSBC Holdings plc has made significant commitments to reduce its carbon footprint, including targets set through the Science Based Targets initiative (SBTi) and participation in the Carbon Disclosure Project (CDP). These initiatives aim to enhance transparency and accountability in climate action. While specific reduction targets for The Hongkong and Shanghai Banking Corporation Limited are not detailed, the overarching goals from HSBC Holdings plc indicate a strong commitment to achieving net-zero emissions by 2050. The bank's climate strategy is informed by its parent company's performance and initiatives, which include commitments to renewable energy and sustainable finance. In summary, while specific emissions data for The Hongkong and Shanghai Banking Corporation Limited is not available, its climate commitments are closely tied to those of HSBC Holdings plc, reflecting a robust approach to addressing climate change within the banking sector.
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| 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2014 | 2015 | 2016 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Scope 1 | - | - | - | - | - | - | - | 0,000 | 0,000 | 0,000 | 0,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 2 | - | - | - | - | - | - | - | - | - | - | - | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 00,000,000 |
| Scope 3 | 88,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 00,000,000 | 000,000,000 | 0,000,000,000 | 00,000,000 | 000,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 |
How Carbon Intensive is The Hongkong and Shanghai Banking Corporation Limited's Industry?
How Carbon Intensive is The Hongkong and Shanghai Banking Corporation Limited's Location?
The Hongkong and Shanghai Banking Corporation Limited's Scope 3 Categories Breakdown
The Hongkong and Shanghai Banking Corporation Limited's Scope 3 emissions, which increased by 1% last year and increased significantly since 2004, demonstrating supply chain emissions tracking. The vast majority of their carbon footprint comes from suppliers and value chain emissions, representing the vast majority of total emissions under the GHG Protocol, with "Purchased Goods and Services" being the largest emissions source at 77% of Scope 3 emissions.
Top Scope 3 Categories
The Hongkong and Shanghai Banking Corporation Limited's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
The Hongkong and Shanghai Banking Corporation Limited has not publicly committed to specific 2030 or 2050 climate goals through the major frameworks we track. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
