Company: HBCYF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001089113-25-000040
Chunk: 44

Company: HSBC HOLDINGS PLC
Filing Date: 2025-02-20
Form: 20-F
Chunk 44
---
20 | HSBC Holdings plcAnnual Report on Form 20-F |

Strategic Report

Our ESG ambitions, metrics and targets

| TCFD |

We have established ambitions and targets that guide how we do business, including how we operate and how we serve our customers. These include targets designed to help track our progress against our environmental and social sustainability goals. They also help us to improve employee advocacy and the representation of senior leadership, as well as strengthen our market conduct. The targets for these measures are linked to the pillars of our ESG strategy: transition to net zero, building inclusion and resilience, and acting responsibly. To help us achieve our ESG ambitions, a number of measures are included in the annual incentive and long-term incentive scorecards of the Group CEO, Group CFO and Group Executives that underpin the ESG metrics in the table below. For a summary of how all financial and non- financial metrics link to executive remuneration, see pages 327 to 339 of the Directors’ remuneration report. In our previous disclosures and in our net zero transition plan we have highlighted the risks, dependencies and uncertainties associated with our approach and progress towards our ESG ambitions. For further details on our climate reporting, see the ESG review page 41 . The table below sets out some of the key ESG metrics we use to measure progress against our ambitions. For further details of how we are doing, see the ESG review on page 39 .

| Environmental:Transition to netzero1                                                                                                                                       | Sustainable finance andinvestment2                                                                                                                                                                         | Net zero in our own operations3                                                                                                                                                                                     | Financed emissions4 |
| $393.6bn                                                                                                                                                                   | 66.1%                                                                                                                                                                                                      | 7 sectors                                                                                                                                                                                                           |                     |
| Cumulative total provided andfacilitated since 1 January 2020.(2023: $294.4bn)Ambition: Provide and facilitate$750bn to $1tn of sustainablefinance and investment by 2030. | Reduction in absolute operationalgreenhouse gas emissions from2019 baseline.(2023:57.3%)Updated ambition: Become a netzero bank by 2050.                                                                   | Number of sectors where we have setinterim financed emissions targets,comprising five on-balance sheet andtwo combined financed emissionstargets.Ambition: Align our financedemissions to achieve net zero by 2050. |                     |
| Social:Build inclusionand resilience                                                                                                                                       | Gender representation5                                                                                                                                                                                     | Black heritage5