Company: HBCYF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001089113-25-000040
Chunk: 100

Company: HSBC HOLDINGS PLC
Filing Date: 2025-02-20
Form: 20-F
Chunk 100
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A NZE 2024 scenario, which suggests a 42% reduction relative to the re- baselined 2020 figure. In 2021, absolute on-balance sheet financed emissions decreased by 71% to 1.38 Mt CO 2 e relative to the re-baselined 2020 figure. In 2022, the absolute on-balance sheet financed emissions of our portfolio decreased by 69% to 1.44 Mt CO 2 e relative to the re- baselined 2020 figure, and they rose by 4% from 2021 to 2022. The reduction from the 2020 re-baselined figure was due to strategic decisions and temporary factors, such as low loan drawdown levels. A return to normal market conditions with clients drawing down existing loans will lead to increased financed emissions in our portfolio.

| Thermal coal miningMt CO2e | 2022 progressfrom baseline |
|                            | (69)%                      |

On-balance sheet financed emissions The table below summarises the results of our assessment of on-balance sheet financed emissions using 2022 and 2023 data. For thermal coal mining, we disclosed in 2023 our 2020 baseline, which has been re-baselined as described on page 49 , and we now present figures for 2021 and 2022. The PCAF data quality scores across most sectors improved in 2023 due to better data availability.

|                           |         | On-balance sheet financed emissions – wholesale credit lending and project finance1,2 |                  |                    |                          |     |
| Sector                    |    Year |                                                                    Scope 1–2(Mt CO2e) | Scope 3(Mt CO2e) | Emissionsintensity | PCAF data quality score3 |     |
| Scope 1 and 2             | Scope 3 |                                                                                       |                  |                    |                          |     |
| Oil and gas               |    2022 |                                                                                   1.3 |             16.2 |                N/A |                      3.2 | 3.2 |
| 2023†                     |     1.6 |                                                                                  15.2 |              N/A |                2.4 |                      2.7 |     |
| Power and utilities       |    2022 |                                                                                   7.6 |              N/A |              401.7 |                      3.3 | N/A |
|