Middle East’s best bank for sustainable finance 2021: HSBC
It was yet another impressive year for HSBC in sustainable finance. At a global level the bank is committed to net-zero on carbon emissions. At a regional level it has a team of 39 staff, led by its head of sustainability, Europe and the Middle East, Sabrin Rahman. They engage with clients on ESG, sustainable finance and transition strategies.
Each year HSBC proves itself to be a leader in sustainability. In October 2020 it set a timeline to achieve net-zero in its entire financed portfolio by the end of the decade. Three months later it launched its sustainable and transition finance team in the Middle East, co-led by the regional heads of global banking and commercial banking. It set up a climate risk oversight forum, chaired by its Middle East head of risk, to oversee climate and transition risk, and surveyed hundreds of firms in Egypt, Qatar and the UAE to understand their climate adaptability level.