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2050
Target Year
320.0Mt
Total CO2e / year
$66B
Revenue
214K
Employees
Scope 1 & 2 (direct operations) vs Scope 3 (value chain)
300Kt
Direct operations & purchased energy
320.0Mt
Supply chain & value chain
320.0Mt
All scopes combined
SBTi validates that corporate emissions reduction targets are consistent with the latest climate science.
CDP scores range from A (leadership) to D- (disclosure), rating corporate environmental transparency and performance.
HSBC's total annual emissions of 320 megatonnes CO2e is equivalent to the annual emissions of approximately 70 million average cars. Scope 3 (value chain) emissions account for 100.0% of the total — typical for finance companies, where upstream and downstream activities dominate the carbon footprint.
HSBC has committed to achieving Net-Zero financed emissions by 2050, with a 34% reduction target from a 2019 baseline. Their offset strategy involves: Portfolio alignment + nature-based solutions.
HSBC's total reported emissions are 320 megatonnes CO2 equivalent per year. This breaks down to 0.3Mt from Scope 1 & 2 (direct operations) and 320Mt from Scope 3 (value chain).
HSBC is in an "Early Stage" of its net-zero journey, with 18% progress. The company has set targets but implementation is still in early phases.
Yes, HSBC's climate targets have been validated by the Science Based Targets initiative (SBTi) as aligned with a 1.5°C pathway. This means an independent body has verified their targets are consistent with what climate science says is necessary.
HSBC Net Zero Report 2024 (latest report year: 2024)
Emissions figures represent the most recently reported annual data. Progress assessments incorporate SBTi validation, CDP scoring, and independent analysis.