Creating a new climate for change
Our global climate ambition
As part of the fight against climate change, we are committed to cooperating with other asset managers and stakeholders in the pursuit of a more sustainable financial system. This involves a series of efforts.
In July 2021, we signed up to the Net Zero Asset Managers initiative1 , which encourages investment firms to commit to manage assets in line with the attainment of net zero emissions by 2050. The agreement also accelerates our journey towards developing climate solutions that support the net-zero transition. Our approach is to dedicate 38 per cent of total assets under management (AUM) – across listed equities and corporate fixed-income investments – to decarbonisation. This will be achieved by reducing our portfolios’ Scope 1 and Scope 2 emissions intensity by 58 per cent by 2030.
Our net zero target setting methodology explained in three steps
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This is just the latest stage of our journey. Through our involvement with Climate Action 100+ since its inception in 2017, we have been engaging with a growing number of the world’s largest corporate greenhouse-gas emitters on how to take necessary action to lower their climate impact. We were also a founding signatory to the One Planet Asset Managers initiative, established in 2019. This brings together leading sovereign wealth funds and asset managers to accelerate the integration of climate-change issues into the management of large, long-term asset pools.
In September 2022, we committed to phase out thermal-coal investments by introducing a new, formal thermal-coal policy2.
Our Thermal Coal Policy
Our goal is to exclude from our active funds coal-fired power and thermal-coal mining companies in EU and OECD countries by 2030, and worldwide by 2040. We will also engage more directly with company management from companies with inadequate transition plans.
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The information presented may refer to HSBC Asset Management's global AUMs/figures and global policies. Even though local entities of HSBC Asset Management may be involved in the implementation and application of global policies, the numbers presented and the commitments listed are not necessarily a direct reflection of those of the local HSBC Asset Management entity.
Today, we and many of our customers contribute to greenhouse gas emissions. We have a strategy to reduce our own emissions and to help our customers reduce theirs.