Environmental, Social and Governance Review

The report describes HSBC's climate ambitions, including sector-specific financed-emissions targets of a 34% absolute reduction for oil and gas and a 75% intensity reduction for power and utilities by 2030. It reports 2021 operational emissions of 341,000 tonnes CO2e and says emissions were 50.3% below the 2019 baseline. The report also records $126.7bn in cumulative sustainable-finance and investment contribution since 2020. It describes group-wide ESG oversight by the Board and initiatives spanning workforce inclusion, skills and well-being.