HSBC has won the coveted award for ‘Best Bank for Sustainable Finance’ in Asia as part of the 2021 Euromoney Awards for Excellence. This is the fourth consecutive year in a row that HSBC has won this award.
According to Euromoney, “HSBC’s strength in sustainable finance is deep rooted and hard to match. HSBC ranks first for green, social, sustainability and sustainability-linked bond issues in Apac. It’s equally strong on sustainability-linked lending. But it’s more about the sense of leadership and this manifests itself in several ways”.
HSBC is setting out an ambitious plan to prioritise financing and investment that supports the transition to a net zero global economy. At the heart of the plan is a pledge to reduce financed emissions from the bank’s portfolio of customers to net zero by
2050 or sooner, in line with the goals of the Paris Agreement.
To help customers achieve this goal, HSBC has an ambition to provide between USD750 billion and USD1 trillion of finance and investment by 2030.
In April 2021, HSBC Amanah was also the first bank in Malaysia to announce the publishing of its Task Force on Climate-related Financial Disclosures (TCFD) report. The report supports Bank Negara Malaysia’s efforts to strengthen the financial industry’s capacity in managing climate-related risks.
“The pandemic has amplified the importance of sustainable finance for economic resilience. At HSBC , we are intensifying our support for customers to switch to more sustainable ways of doing business as we collectively work towards building a thriving
low-carbon economy. The win from Euromoney is a recognition of our efforts in this space. In Malaysia specifically, HSBC has delivered a range of landmark sustainability solutions for our clients – this has been critical to developing the sustainable banking
landscape in the country. HSBC Amanah itself is committed to transforming to become the Group’s first sustainable banking entity and the innovative solutions arranged and executed by HSBC Amanah, in partnership with businesses in Malaysia, are part of
the journey to this important goal”, said Raja Amir Shah, CEO, HSBC Amanah.
In 2020, HSBC Amanah won the Islamic ESG Bank of the Year award as part of TheAsset Triple A Islamic Finance Awards.