HSBC is a leading global bank headquartered in the United Kingdom, with a presence in over 60 countries worldwide. The bank operates in the Diversified Banks sector, providing a range of financial services to individuals, businesses, and institutions. HSBC has a strong commitment to sustainability and has set ambitious targets to reduce its carbon footprint and support the transition to a low-carbon economy.

Decarbonisation is a key focus area for HSBC, and the bank has set a target to achieve net-zero carbon emissions by 2050. To achieve this goal, HSBC is implementing a range of measures to reduce its carbon footprint, including investing in renewable energy, improving energy efficiency, and reducing business travel. The bank is also working with its clients to support their decarbonisation efforts, providing financing and advisory services to help them transition to a low-carbon economy.

One of the ways HSBC is supporting decarbonisation is through its corporate energy program. The program aims to reduce the bank's energy consumption and carbon emissions by improving energy efficiency and increasing the use of renewable energy. HSBC has set a target to source 100% of its electricity from renewable sources by 2030, and is investing in a range of renewable energy projects, including wind and solar.

HSBC is also exploring the use of corporate power purchase agreements (PPAs) to support the development of new renewable energy projects. A corporate PPA is a long-term contract between a company and a renewable energy developer, where the company agrees to purchase a specified amount of renewable energy at a fixed price. By entering into a corporate PPA, companies like HSBC can support the development of new renewable energy projects and secure a long-term supply of clean energy.

In addition to its own decarbonisation efforts, HSBC is also working with its clients to support their transition to a low-carbon economy. The bank provides a range of financing and advisory services to help clients invest in renewable energy and improve energy efficiency. HSBC has also committed to provide $100 billion in sustainable financing and investment by 2025, to support the transition to a low-carbon economy.

HSBC's commitment to sustainability is reflected in its corporate culture and governance. The bank has a dedicated sustainability team, which is responsible for developing and implementing the bank's sustainability strategy. HSBC also has a board-level sustainability committee, which oversees the bank's sustainability performance and strategy.

HSBC's sustainability efforts have been recognized by a range of external organizations. The bank has been included in the Dow Jones Sustainability Index for 21 consecutive years, and was named the world's most sustainable bank by Corporate Knights in 2021. HSBC has also been recognized for its leadership in renewable energy, receiving the Renewable Energy Buyers Alliance Deal of the Year award in 2020 for its corporate PPA with a wind farm in Texas.

In conclusion, HSBC is a leading global bank with a strong commitment to sustainability and decarbonisation. The bank is implementing a range of measures to reduce its carbon footprint and support the transition to a low-carbon economy, including investing in renewable energy, improving energy efficiency, and supporting the development of new renewable energy projects through corporate PPAs. HSBC is also working with its clients to support their decarbonisation efforts, providing financing and advisory services to help them transition to a low-carbon economy. HSBC's sustainability efforts have been recognized by a range of external organizations, reflecting the bank's leadership in sustainability and renewable energy.