Company: HBCYF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001089113-25-000040
Chunk: 21

Company: HSBC HOLDINGS PLC
Filing Date: 2025-02-20
Form: 20-F
Chunk 21
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 of ‘strategic transactions’ and their impacts are separately presented in our financial reporting. Read more on the financial impact of our strategic transactions on page 111 . Read more on our organisational update on page 8 .

ESG update Transition to net zero – Supporting the transition to net zero is a key priority for HSBC. In our net zero transition plan published in January 2024, we committed to continually calibrate our approach to take into consideration the latest scientific methodologies, climate-related policy measures and developments in the real world. As we near the mid-point towards our 2030 targets, we have begun a review of our interim 2030 financed emission targets and associated policies. This forms part of our annual net zero transition plan review as referenced in our 3Q24 earnings release in October. – In 2020, we set an ambition to achieve net zero in our own operations and supply chain by 2030. We have made good progress in reducing our scope 1 and 2 emissions and are currently on track to deliver reductions of more than 90% by 2030 compared to our 2019 baseline. However, progress in reducing emissions in the scope 3 supply chain component is proving slower than we anticipated. We currently expect a 40% emissions reduction across our operations, travel and supply chain by 2030 which would mean that we would need to rely heavily on carbon offsets to achieve net zero in our supply chain by 2030. As such, we have revisited our ambition, taking into account latest best practice on carbon offsets. We are now focused on achieving net zero in our operations, travel and supply chain by 2050. – Since 2020, we have provided and facilitated $ 393.6 bn of sustainable finance and investment, which was an increase of $ 99.2 bn in the past year. This consisted of green and social financing, alongside other forms of sustainable financing and investment. – We have continued to focus on financing our clients’ transition needs. In 2024, we launched HSBC Infrastructure Finance to help realise the financing and advisory opportunities in creating the infrastructure for a low carbon economy. We have also continued to focus on emerging climate technologies and supply chain decarbonisation. – We have continued to participate in cross sector efforts to support customers’ transitions. Build inclusion and resilience – In 2024, 34.6% of senior leadership roles were held by women, and we are on track to achieve our ambition of 35% by 2025 .