HSBC Bermuda is moving into lock-step with its parent group’s ambitious climate strategy.

The local subsidiary has already invested three quarters of a million dollars collaborating with environmental charities in support of various local sustainability-focused initiatives and projects.

HSBC Group announced last October its enterprising plan to prioritise financing and investment in support of the transition to a net zero global economy to help build a thriving, resilient future for society and businesses.

And now HSBC Bermuda has announced it will be taking steps towards:

•Becoming a “net zero bank” in its operations and supply chain by 2030, aligned with the Paris Agreement;

•Supporting its portfolio of clients on their own “net zero” transition journey through the provision of unique green product solutions and services to help reduce emissions; and

•Unlocking climate solutions through financing projects which support climate innovation, sustainable infrastructure and nature-based solutions for Bermuda.

The local bank’s projects have already included Eco Schools Greenrock, 2015-2018); Cooper’s Island Restoration Project (Bermuda Zoological Society and Ministry of Environment); Water Project Brackish Pond Remediation (BZS, 2014-2015); Youth Water Explorer Project (Greenrock, 2015-2017); and, Mid-Atlantic Robotics in Education Programme (Bermuda Institute of Ocean Sciences, 2014-2018).

Additionally, HSBC said it has reinforced its position over the years with employees on the importance of sustainability.

The bank said it has done so through its annual staff volunteerism efforts via environmental remediation projects; the staff “Citizen Scientist” leadership training initiative; formation of its sustainability employee resource group; achieving internationally recognised Gold LEED certification for its Harbourview Centre headquarters building; formation of an internal climate business council; and, implementation locally of the global HSBC REDUCE campaign to ensure responsible consumption of energy, water, waste, paper, travel, etc. within its operations.

Steve Banner, chief executive officer of HSBC Bermuda, said: “There is a global pivotal decade of change underway with respect to climate change and sustainability.

“We recognise the responsibility and importance of HSBC’s role in Bermuda in both how the bank adapts to such critical changes and how we continue to support the aspirations and needs of our clients and the community, within these important areas of focus.

“We look forward to the journey ahead as we work towards building a healthier, more resilient and sustainable future.”

For more information on HSBC Bermuda’s Climate Ambition plans, visit its Sustainability Hub.