HSBC is going ?carbon neutral.? It plans to plant trees, buy green electricity and trade emission allowances to abate its contribution to the release of greenhouse gas.
HSBC’s C02 emissions from using electricity, natural gas, fuel oil and business travel were more than 550,000 tonnes in 2003. Going carbon neutral will involve improving the bank’s environmental impact.
Corporate social responsibility is high on the agenda now for bulge-bracket banks and Steve Howard, chief executive of non-profit organization The Climate Group, says the bank’s decision sets a ?new benchmark for the financial sector.
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