HSBC commits $1bln to green bond portfolio

HSBC has pledged to commit $1 billion (€937m) to a green bond portfolio which will invest in high quality liquid assets in the form of green, social, or sustainability bonds.

These bonds will be aligned with the Green Bond Principles and will be used to fund projects in sectors such as clean transportation, renewable energy, energy efficiency, and climate change adaption, as well as SME financing in sectors such as public transport, education, and healthcare.

The bank is a member of several industry bodies focused on climate change, such as the ICMA Green Bond Principles Executive Committee, Green Growth Platform Financial Advisory Council, the Climate Bonds Initiative, China's Green Finance Committee, and the Equator Principles Association.

In September of this year, Stuart Gulliver, HSBC Group CEO announced during New York Climate Week that HSBC Asset Management has signed the Montreal Carbon Pledge, which commits the bank to measure and publicly disclose the carbon footprint of its clients’ investment portfolios on an annual basis.