Banks must step up to help business reach net zero

Banks must step up to help business reach net zero

A majority of companies expect better sustainability performance will increase revenue.

Banks will play a critical role in supporting the transition to net zero carbon emissions.

Low borrowing costs create an opportunity for green investments.



Companies have proven remarkably resilient in weathering the turmoil brought by COVID-19. While business leaders find new ways of working to cope with the disruption to human lives, a deeper change is underway that affects all life on this planet. Both factors will reshape business.



I have been struck by our customers' desire to use the COVID-19 crisis to reimagine how they operate. Some of this reimagining is what you might describe as pragmatic; reviewing real estate, automation opportunities and evolving customer needs. Some of it goes much deeper. HSBC's new Navigator research shows that 86% of firms expect enhanced sustainability performance will increase revenues. As a result, three-quarters of the 10,000 companies surveyed have adopted environmental, social and governance (ESG) targets.

HSBC recently announced support for customers as they take action to address the climate emergency. We detailed our goal to align our financed emissions, that is the carbon emitted by our customers, to net zero by 2050 or sooner. And to help