HSBC invests in environmental change

Former government advisor Sir Nicholas Stern appointed to help the bank become carbon neutral

HSBC aims to become carbon neutral

Banking giant HSBC has appointed former government advisor Sir Nicholas Stern to help reduce the firm’s impact on the environment through a series of initiatives including the introduction of renewable energy technology.

Stern was economic adviser on climate change and development to the prime minister and chancellor from 2003-7 and led the Stern Review on the Economics of Climate Change.

The Global Environmental Efficiency Programme (Geep) will enable HSBC offices worldwide to showcase environmental innovation, and will be reviewed annually to assess trials, emerging technology, innovation and business needs.

Projects already undertaken as part of the pilot phase of the Geep programme include HSBC's first 'zero carbon' branch, solar photovoltaic cells in offices, bio-diesel back-up generators and recycling office waste.

The initiative builds on the launch of HSBC’s Climate Partnership, a five-year, $100m (£50m) scheme to create a 25,000-strong green taskforce worldwide with the support of The Climate Group, Earthwatch Institute, Smithsonian Tropical Research Institute (STRI) and WWF.

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