Financial services industry crucial to achieving net zero: HSBC – The Peninsula

Financial services industry crucial to achieving net zero: HSBC – The Peninsula

Zoë Knight, Managing Director and Group Head, Centre of Sustainable Finance at HSBC

Doha: HSBC sustainable finance experts have met with government and business leaders here and participated in the Qatar Foundation National Climate Dialogue to discuss the role of the financial system in leading the transition to a net zero carbon global economy.

The investment needed by emerging markets to help them transition to a net-zero economy by 2060 is estimated at $94.8 trillion according to a new study.

“Investment in clean energy needs to be accelerated,” said Zoë Knight, Managing Director and Group Head, Centre of Sustainable Finance at HSBC. “We need to mobilise capital to increase its flow to transition solutions that are aligned to science-based transition plans and national pathways for net zero”.

Net-zero transition plans set out how commitments are turned into action. HSBC, in collaboration with different stakeholders, has developed sector-based plans to assess the credibility and progress of net-zero commitments, as well as providing a framework to work with clients in their transitions while safeguarding the environment and society.

HSBC has supported the Qatar Financial Centre to develop a Sustainable Sukuk and Bonds Framework, the first in the GCC region, which is based on the latest International Capital