HSBC Holdings invests $100mln to achieve global net-zero emissions

HSBC Holdings invests $100mln to achieve global net-zero emissions

ArabFinance: HSBC Holdings plc is investing $100 million in Breakthrough Energy Catalyst as an anchor partner, according to an emailed press release on February 1st.

This investment will accelerate the global net-zero pathway and bolster the bank’s goal to achieve net-zero climate impact by 2050.

Moreover, HSBC will join the leadership council for Breakthrough Energy Catalyst, providing an expert view on the transition opportunities in some of its biggest markets, mainly in Asia and the Middle East.

Breakthrough Energy Catalyst is a groundbreaking program that supports private-public capital to speed up the development of clean technologies that will help achieve net-zero emissions by 2050.

This initiative comes as part of the larger Breakthrough Energy network founded by Bill Gates, which targets supporting decarbonization of high-carbon sectors via investments in four climate critical technologies.

The four climate technologies are direct air capture, clean hydrogen, long-duration energy storage, and sustainable aviation fuel.

These technologies will plat a key role in the future in terms of power generation, transport, and heavy industry.

Catalyst funds actual projects, not companies, and it brings together businesses, governments, philanthropists, and individuals to invest in the needed clean technologies to eliminate emissions.

The program also targets lowering the cost of production for products, such as clean