Company: HBCYF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001089113-25-000040
Chunk: 136

Company: HSBC HOLDINGS PLC
Filing Date: 2025-02-20
Form: 20-F
Chunk 136
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 being associated with adverse human rights impacts, by helping to identify and assess the financial crime risk associated with our customers, employees and third parties. For further details of how we fight financial crime, see www.hsbc.com/who-we-are/esg-and- responsible-business/fighting-financial-crime. Other principles HSBC’s Principles for the Ethical Use of Data and Artificial Intelligence include how we seek to respect the right to privacy while making use of these technologies. For further details see www.hsbc.com/-/files/ hsbc/our-approach/risk-and-responsibility/ pdfs/240715-hsbc-principles-for-the-ethical-use- of-data-and-ai.pdf?download=1.

| 74 | HSBC Holdings plcAnnual Report on Form 20-F |

ESG review | Governance

Our respect for human rights continued Supporting change We continued to participate in industry forums, including the Thun Group of Banks, which is an informal group that seeks to promote understanding of the UNGPs within the sector, and the UN Global Compact Human Rights Working Group. HSBC has been a member of the Mekong Club since 2016. We are a participant in their financial services working group, and we use their informative typological toolkits, infographics, and other multimedia resources covering current and emerging issues. Our compliance teams regularly collaborate and engage with the Mekong Club in designing Group-wide knowledge sharing and training sessions. Investments HSBC Asset Management acknowledges the important role that business plays in respecting human rights. If mismanaged or left unaddressed, human rights violations may materialise as business risks, negatively impacting investee companies’ operations, supply chain or brand. These may in turn present risk both to client investments and reputation. HSBC Asset Management engages with companies prioritised for purposeful engagement under its Stewardship Plan on core themes material to investee companies, including human rights. Engagements may be on a one-on-one basis, or collaboratively with other investors. In 2024, it has developed engagement guidelines, highlighting its expectations of good practice for companies, where human rights may be a material issue. Further details can be found in its Stewardship Plan. The Global Voting Guidelines provide an overview of its approach to exercising its shareholder rights in respect of ESG issues, including human rights. In 2024, HSBC Asset Management joined the Investor Initiative on Human Rights Data (‘II-HRD’), a collaborative engagement initiative that aims to improve the depth and breadth