HSBC Launches Environmental, Social, and Governance Group for Clients

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by | Jul 28, 2020

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HSBC this week announced the formation of a dedicated Environmental, Social and Governance (ESG) Solutions unit to help clients around the world rebuild and transition their businesses and economies in a more sustainable way post-covid-19. HSBC says the new unit will more effectively focus the bank’s full range of capabilities and expertise in providing clients with ESG-related advice, strategies, and financing ideas.

The ESG unit will form part of a new Strategic Solutions Group, within the bank’s Capital Financing & Investment Banking Coverage division. The group will also comprise two other components: one focusing on Corporate Finance Solutions and one on Financial Institutions & Capital Solutions. They will link closely with HSBC’s sector and product bankers to provide strategic advice and financing ideas tailored to specific industries and market sectors.

According to HSBC, these changes will allow the company us to rapidly grow its role in providing ESG strategies for clients so it can accelerate their ability to contribute to a low carbon future.

The Strategic Solutions Group, led globally by Nik Dhanani, who previously headed the global Financing Solutions Group, will comprise around 35 bankers spread across Asia Pacific, Europe and the Americas. In addition to leading the global team, he will lead the FIG & Capital Solutions vertical and oversee the day-to-day activities of the group in EMEA.

The ESG Solutions unit will be led by Jonathan Drew, based in Hong Kong, working with Farnam Bidgoli in London and Julie Bennett in New York. They will be supported by several hundred colleagues who have already engaged with clients on assisting their transition needs. The network will continue to expand to meet the growing financing requirements of clients addressing the challenge of evolving their businesses towards a net zero-carbon world.

Just last month, HSBC and The Sustainability Consortium (TSC) released a report urging companies to prepare supply chains for the risk of climate change disruptions that threaten to raise costs and jeopardize their ability to meet customer needs.

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