HSBC has created a five-year, $100 million partnership to fund climate research through The Climate Group, Earthwatch Institute, Smithsonian Tropical Research Institute and WWF.
“By working with four of the world’s most respected environmental organizations and creating a ‘?green taskforce’ of thousands of HSBC employees worldwide, we believe we can tackle the causes and impacts of climate change,” said Paul Lawrence, President and CEO, HSBC Bank USA, N.A . “Over the next five years HSBC will make responding to climate change central to our business operations and at the heart of the way we work with our clients across the world.”
HSBC’s US$100 million partnership is, according to HSBC, the largest donations to each of these charities and the largest donation ever made by a British company.
“Through the HSBC Climate Partnership we will accelerate our program in five world cities, engaging the most influential businesses and city governments to lead a ‘?coalition of the willing’ against global warming,” said Christopher Walker, U.S. Director of The Climate Group.
HSBC released its 2006 Corporate Responsibility report earlier this week. Total CO2 emissions grew from 663,000 tons in 2005 to 813,000 tons in 2006.