HSBC announces USD90 million Global Environmental Efficiency Programme

The Global Environmental Efficiency Programme will enable HSBC offices worldwide to showcase environmental innovation and share best practice to help the bank achieve its environmental reduction targets. The programme will be reviewed annually to consider the success of trials, emerging technology, innovation and business needs.

Simon Martin, HSBC Head of Group Sustainability and Corporate Responsibility, said: "HSBC is determined to develop a sustainable business. Our shareholders, customers and employees consider these issues to be important - and this clearly demonstrates our continuing progress in placing sustainability at the very core of how we do business."

The environmental efficiency initiatives focus on some key areas:
• Benchmarking - developing flagship buildings to recognised environmental standards which are independently certified;
• Footprint management and innovation - reducing energy and water consumption, business travel and carbon dioxide emissions, paper use and waste production. This will include piloting innovative and new technologies and working with our clients in the environmental sector,
• Behaviour - training, awareness raising, flexible working practices; and
• Environmental Management Systems - systems and processes optimising the efficiency of the bank's operations.

Kaltham Al Koheji, Head of Regional Communications, HSBC Bank Middle East Limited said:

"Environment is at the core of our corporate responsibility initiatives in the Middle East, and we are excited that a new global environment initiative has taken shape again. We are already committed to a number of environment projects in the region and our recent partnership with the Worldwide Fund for Nature (WWF) and Emirates Wildlife Society (EWS) to protect Wadi Wurayah natural habitat in the UAE is a clear testimony to this. More importantly, our employees have demonstrated a high level of commitment and enthusiasm for environment-related projects."

Engaging HSBC's global workforce of 315,000 employees will be a key factor in the success of the Global Environmental Efficiency Programme. The HSBC Climate Partnership, a separate US$100m, five-year programme launched on 30 May 2007 will facilitate employee engagement by:
• Creating a 25,000-strong 'green taskforce' worldwide who will undertake field research and bring back valuable knowledge and experience to their workplace and communities; and
• Help HSBC employees use their business skills and knowledge of climate change to help the Group build a more sustainable business.

HSBC has a long-standing commitment to the environment. HSBC was awarded the Climate Protection Award from the US Environmental Protection Agency in 2007 in recognition of the Group's contributions to global environmental protection. HSBC was awarded top spot in the Banks and Diversified Financials Sector of the Carbon Disclosure Project's latest Climate Leadership Index and named as the best performing bank in the 2006 ethical reputation rankings published by Geneva-based consultancy Covalence.