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Our objectives
We aim to be a domestic leader in reducing the environmental impact of our daily operations by adopting a smart environmental policy and offering customers a wider range of green business and sustainable finance solutions to promote environmental stewardship.
Key figures
Sustainable finance and investment: closed a green loan with loan amount of HKD 104 million (as of March 2021)
Projected annual reduction on energy consumption by 24% (as of March 2021)
Projected annual reduction on GHG (Scope 1&2) emission[1] by 23% (as of March 2021)
Highlights
Green Business and Sustainable Finance
Transitioning to a greener business model requires investment. We recognise business opportunities while supporting our customers to pursue environmental betterment.
- Our Green Financing Promotion Scheme offers cash rebates to corporate customers who invest in environmentally friendly equipment that enhances efficiency or reduces pollution
- Our Greenness Assessment programme, newly launched in 2020. Through this program, corporate customers who obtain loans for financing various types of green projects can apply the second opinions and green credentials provided by a qualified third-party verifier
- In 2020, we approved two green loan applications for mid-market enterprises, totalling HKD 495 million
- We offer green and ESG investment funds and bonds via branches and/or Personal e-Banking. We continually explore opportunities to offer new investment products that match our ESG ambitions
Overview
We are committed to conducting our activities in an environmentally responsible manner and developing a range of environmental policy and corporate environmental management practices to promote sustainable development.
Our ambition is to achieve carbon-neutrality for our operations by 2030. Accordingly, we have established targets to reduce our electricity consumption and scope 2 greenhouse gas emissions and to source electricity from renewable energy schemes hosted by local providers.
We have also set short, medium and long-term targets for water consumption, paper consumption, greenhouse gas emissions, and waste reduction and recycling.
For details, please refer to our fast fact sheet (available by June).
Greening our buildings
- As Hong Kong’s first domestic bank to attain ISO 14001 certification for all offices and branches, we strive to lead by example in supporting the transition to a low-carbon economy. We monitor EMS (Environmental management system) to ensure it continues to meet ISO 14001 standards
- We have adopted measures to help reduce energy usage. For example, all lighting and air conditioning in our core buildings are programmed to switch off outside of office hours
- Our workplace has been enhanced with technology and digital solutions to achieve paperless operation
- To contribute to climate change mitigation, we also actively explore opportunities to support local renewable energy development. In 2021, solar panels will be installed at Hang Seng 113 to generate renewable energy
Greening our customer communications
- 66% of our retail customer statements and advice slips were sent to customers via electronic channels in 2020
- 94% of shareholders adopted our e-communication services in 2020, saving over 16 million sheets of paper
Advocating for the environment
As one of Hong Kong’s largest listed companies, we are well positioned to champion environmental stewardship. In 2020, our work in this area has included:
- A partnership with the Conservancy Association (CA): nurturing a low-carbon village model in the Yunnan province, following the successful completion of a biogas initiative in the preceding 10 years
- Continued support for the Hang Seng – CA Eco-Rangers: a signature orienteering competition
- A commitment to protecting our community and planet through the WWF HK and the Business Environment Council’s corporate membership programmes
- Seasonal internal newsletters: featuring green facts quarterly to raise employee awareness of environmental protection in our daily operations
Through training programmes and our internal practices, we empower our staff to act as Green Ambassadors in their associates, families and friends by raising their awareness of environmental issues.
Climate risk management
- We are aligning our financing portfolio to support the Paris Agreement goals. In accordance with HSBC Group’s specific lending guidelines for climate sensitive sectors, we manage the Bank’s credit exposure to such industries to better promote climate change mitigation.
- We are establishing a Climate Risk Management framework with policies for identifying and mitigating such risks.
Environmental awards
- Hang Seng 113 was Hong Kong’s first domestic bank office to be certified Platinum – the highest attainable level – under the US Green Building Council’s LEED (Leadership in Energy and Environmental Design) scheme.
- Hang Seng Tower building attained LEED Gold certification for its fitting-out.
- ‘Renewable Energy Contribution Award’ in CLP’s Smart Energy Award 2020
- In 2020, we earned the Gold Class Fresh Water Award for our headquarters and the Quality Fresh Water and Quality Flushing Water awards for Hang Seng 113.
Useful links
Remark(s)
- Excluding the carbon emissions reduction resulting from the purchase of renewable energy certificates from local electricity providers