(13 November 2017 – USA) HSBC USA will be the first financial institution to join over 100 other members of The Sustainability Consortium working to translate the best sustainability science into business tools that are used all over the world to create more sustainable consumer products.
“HSBC believes that, in order to create tangible solutions, we all need to come together and that includes those of us in the banking industry. We know that financing is a powerful incentive to help realise meaningful change, not only for our own clients, but across the consumer products industry. This membership with TSC brings us to the table with industry leaders to discuss our role in helping to achieve a more sustainable future,” said Patrick J. Burke, President and CEO of HSBC USA.
“We are proud to welcome HSBC Bank as TSC’s first financial member. To create more sustainable consumer products, we rely on companies from all industries making commitments to social and environmental sustainability in their business practices. HSBC is a leader in the financial industry, and we welcome them as a leader in sustainability. We look forward to learning as much from them as they will from us,” said TSC Chief Executive, Euan Murray.
In 2015, HSBC pledged to invest US$1 billion in a portfolio of green, social, or sustainable bonds. The bank has sustainability commitments already in place, focusing on building their business by balancing issues in social, environmental, and economic sustainability into every decision.
The bank says it has made significant contributions to solutions worldwide including their US$100 million, five-year investment in the HSBC Water Programme.
HSBC announced that they are an inaugural funder of the Sustainable Apparel Coalition’s Impact Institute, where they are also the first financial services industry partner alongside leading apparel companies.
By joining TSC’s science-based metrics approach to more transparent supply chains, HSBC will learn from TSC’s diverse membership base made up of leaders in sustainability. The goal is for HSBC to strengthen their own thought leadership around tangible sustainability solutions that will help not only their own clients but all in the industry to better understand sustainability risks and make improvements to their own sustainability practices.