Middle East’s best bank for sustainable finance: HSBC
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Middle East’s best bank for sustainable finance: HSBC

Last year was an important one for sustainable finance in the Middle East. Dubai hosted the COP28 conference, following on from Sharm El-Sheikh in Egypt in 2022. This has well and truly put the spotlight on sustainable finance for banks, corporates and sovereigns in the region.

It is in this exciting environment for growth that HSBC stands out as the clear winner of Euromoney’s best bank for sustainable finance in the Middle East this year. Stephen Moss is the regional chief executive.

First and foremost, the numbers. The bank saw 61% overall growth in its total sustainable finance business in 2023, compared with 2022.

This was primarily driven by green bonds and loans. Green bond volumes rose from $380 million in 2022 to $1.44 billion in 2023. Green loans and green qualified lending grew by 300% over the same period.

Stephen Moss

The focus has not just been on environmental finance: social lending by the bank reached a new high of $39 million in 2023, from just $4 million in 2022.


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