Company: HBCYF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001089113-25-000040
Chunk: 105

Company: HSBC HOLDINGS PLC
Filing Date: 2025-02-20
Form: 20-F
Chunk 105
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 engagements 3410 (Assurance Engagements on GreenhouseGas Statements). For further details, see GHG Reporting Guidance 2024 and third-party limitedassurance report at www.hsbc.com/who-we-are/esg-and-responsible-business/esg-reporting-centre. Inrespect of data in 2019 and 2023, see our relevant Annual Report and Accounts.2    Supply chain emissions are calculated using a combination of supplier emissions data and industryaverage emissions factors. A data quality score is applied to this calculation where 1 is high and 4 islow, based on the quality of emissions data. This is a weighted average score based on HSBCsupplier spend. Data quality scores can be found in the ESG Data Pack.3    Data is based on the 12-month period to 30 September.For further details of our methodologies, our independent third-party limited assurance reports andrelevant environment key facts, see our ESG Data Pack at www.hsbc.com/esg. |   |           |           |               |

2024 Emissions performance We are making progress towards our updated 2050 net zero ambition. In 2024 we achieved a reduction in absolute operational greenhouse gas emissions (energy and business travel) of 66.1% from our 2019 baseline. Overall, including supply chain emissions, we achieved a 30.7% reduction against 2019 and 5.5% compared with 2023. Emissions from our energy We are currently on track to reduce our scope 1 and 2 emissions by more than 90% by 2030 compared with our 2019 baseline. In 2024, we reduced these emissions (including energy and road fleet) to 98,785 tonnes CO2e, representing a 76.2% reduction from our 2019 baseline and a 46.3% reduction from 2023, helped by further efficiency measures and portfolio reductions, and an increase in renewable electricity procurement to 75.4% , up from 58.4% in 2023. Emissions from travel We reduced our emissions from scope 3 business travel by 50.8% compared with 2019 with travel volumes remaining well below pre-pandemic levels, although emissions increased by 22.6% compared with 2023 as travel behaviours normalise gradually across the bank. Emissions from our supply chain In 2024, we reduced our supply chain emissions by 8.4% against the restated 2019 baseline