HSBC launches Green Deposits for corporate and institutional clients in the UAE

SectorOil & Gas

HSBC today launched Green Deposits in the UAE, which will give corporate and institutional clients a mechanism to make USD and AED deposits in the UAE knowing their funds will be used to finance green initiatives.

Clients will receive a quarterly, portfolio-level view of how their funds have been deployed to support green projects, and they will be able to manage their green account as simply as a regular deposit account.

Philippe Robert, HSBC’s Interim Head of Global Liquidity and Cash Management in the Middle East, North Africa and Turkey (MENAT), said: “With the UAE pursuing an increasingly ambitious green agenda, our clients have been asking us for solutions that enable them to manage their capital in a more environmentally responsible way. While there is still a long way to go to meet critical global climate targets, launching Green Deposits in the UAE reflects the increasing awareness of sustainability and will help embed sustainable finance into corporate treasury management.”

HSBC more...