The London-based HSBC holds the record of being one of the first major banks to make a carbon neutral commitment.
What prompted the company to call for this action?
A record of 606,300 tons of CO2 in 2003.
The big steps taken: Spending an equal amount on green energy projects that reduce CO2 emissions similar to amount of Co2 generated by it. Investment of $7 million annually to boost the energy efficiency of its buildings, buying more of its electricity from green sources, automatically switching off staff PCs after hours, buying other people’s reductions. In 2005, for 187,400 tons of CO2 HSBC generated, it sent $4.43 to four projects like a wind farm that powers up to 45,000 homes in New Zealand and a project in Germany that reduces emissions of methane gas by converting pig and cattle manure into heat and electricity with an independent auditor to test the credibility.
Best of all, it also hopes to influence other companies to go green through their advice.
