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HSBC UK LAUNCHES CARBON CALCULATOR TO HELP SME CLIENTS TRACK AND MEASURE THEIR CARBON FOOTPRINT
HSBC UK has partnered with carbon management company , Greenly , to support clients to measure their carbon footprint by enabling them to identify their main sources of carbon emissions and spot opportunities to reduce them .
Greenly ’ s platform is designed to help small- and medium-sized enterprises ( SMEs ) with their transition journey by providing a reliable data tracking and reporting solution .
With almost 6 million SMEs in the UK , they have a significant role to play in the race to decarbonise emissions . However , a recent HSBC survey on SME customer needs found a lack of advice and support over sustainability measurement remains a significant barrier to achieving effective change .
Following a global review of carbon management platforms , HSBC UK piloted the carbon calculator with 50 clients in 2023 and , based on feedback from this ,
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COLLABORATING WITH HSBC UK TO INTEGRATE OUR INNOVATIVE CARBON FOOTPRINT ASSESSMENT TECHNOLOGY INTO ITS SUSTAINABILITY TRACKER IS A SIGNIFICANT STEP TOWARDS EMPOWERING SMES TO MAKE INFORMED , SUSTAINABLE DECISIONS .
worked with Greenly to develop two packages for business customers , which can be accessed through HSBC ’ s Sustainability Tracker tool .
Both packages provide an auditable Greenhouse Gas ( GHG ) Protocol compliant report for SMEs to share with key stakeholders or used as an input to report carbon emissions for CDP , Science Based Targets initiative ( SBTi ) and the Corporate Sustainability Reporting Directive ( CSRD ).
The basic package enables SMEs to carry out an initial assessment to identify their main carbon emissions sources and reduction levers .
The premium package allows SMEs to understand their carbon emissions in detail and how to reduce them , with a dedicated climate expert on hand from Greenly to support with reduction strategies .
Rob King , Head of Commercial Banking Sustainability , HSBC UK , said : “ Measuring their carbon emissions and identifying the main sources of emissions is an important step for SMEs when it comes to developing an effective transition plan . Our goal with the Greenly carbon calculator is to support carbon data measuring and help SMEs beginning their sustainability journey .”
Alexis Normand , CEO & Co-founder of Greenly , said : “ Collaborating with HSBC UK to integrate our innovative carbon footprint assessment technology into its Sustainability Tracker is a significant step towards empowering SMEs to make informed , sustainable decisions . Greenly is committed to driving positive environmental impact and accelerating the transition to a low-carbon economy .”
This launch follows the recent introduction of HSBC UK ’ s Buildings Sustainability Assessment Tool which provides property portfolio firms with a summary of their portfolio ( including annual emissions and energy costs ) and current or estimated EPC ratings , together with tailored recommendations to help achieve energy and carbon emissions reductions . �
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