Company: HBCYF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001089113-25-000040
Chunk: 91

Company: HSBC HOLDINGS PLC
Filing Date: 2025-02-20
Form: 20-F
Chunk 91
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 that financial institutions should, in line with the Greenhouse Gas Protocol Corporate Value Chain (scope 3) Accounting and Reporting Standard requirement, establish a recalculation policy to ensure consistency, comparability and relevance of the reported greenhouse gas emissions data over time. Our emissions re-baseline and restatement policy defines the circumstances for a restatement of previously reported emissions data and targets, including a re-baseline. In 2024, we reviewed and enhanced our policy by extending the scope to cover additional emissions categories, including scope 1 and 2 emissions in our own operations. We also now include scope or boundary changes as a key driver of change. HSBC Asset Management is covered by a different emissions re-baseline and restatement framework as per page 55 . Emissions data and related processes are continually evolving. Therefore, we do not consider data and process enhancements to be a key driver of change. This may change over time as data and processes mature. When key drivers, in aggregate, breach our defined significance thresholds, a restatement of previously reported emissions data and targets, including where necessary a re-baseline, is required. We expect our policy to evolve with further industry guidance. The table below outlines the key drivers of change and what we expect to disclose when thresholds are breached. For further details of our emissions re-baseline and restatement policy, see our Financed Emissions and Thermal Coal Exposures Methodology at www.hsbc.com/who-we-are/ esg-and-responsible-business/esg-reporting- centre.

| Key drivers of change                                                                                         | What we expect to disclose                                                                                                                                                                                                                                                                                                                                                                         |
| Changes to theemissionsmethodology including those driven bychanges in industry guidance/regulations          | –A revised comparative amount for the restatement period thatreflects the new information–The difference between the amount disclosed in the previousperiod and the revised comparative amount–The reasons for revising the comparative amount and why the newinformation provides reliable and more relevant information–The actions being taken to remediate same or similar errors in thefuture |
| Errors, such as those in the internal application or interpretation ofmethodology, or errors in internal data |                                                                                                                                                                                                                                                                                                                                                                                                    |
| Scope or boundary changes, such as acquisitions or divestments,and inventory boundary and coverage changes    |                                                                                                                                                                                                                                                                                                                                                                                                    |

In 2024, we made the decision to amend the approach for prioritising data sources for automotive clients to utilise production data as opposed to reported third-party data, representing a methodological change. This change was implemented