- HSBC (LON:HSBA) publishes Sustainability Report 2010

The report cover the Company's seven sustainability priorities
May 27, 2011 9:31 AM ET

(3BL Media / theCSRfeed) May 27, 2011 - HSBC's Sustainability Report 2010, published today, covers seven sustainability priorities:

Contribution to the economy through the bank’s day-to-day operations, by providing employment, paying taxes and countering bribery and corruption. In 2010, HSBC paid US$5.8 billion in tax, and US$19.8 billion in employee compensation and benefits.

Supporting customers through products and services which enable millions of individuals and organisations to achieve their financial goals. In 2010, customer deposits were up by 7 per cent and customer lending by 8 per cent compared with 2009.

Valuing employees, who play their part by using good judgement, supporting each other, their customers and their communities. In 2010, the bank’s measure of employee engagement continued to exceed the financial services sector average.

Generating new revenue streams through climate business. In 2010, HSBC completed deals in the wind power, efficient transport and fuel cell energy sectors, and developed a climate business learning programme for Commercial Banking relationship managers.

Social and environmental risk management. In 2010, HSBC completed an extensive review of its energy sector sustainability risk policy in light of the changing regulatory environment, new research and developing technologies. Among the 43,000 business customers subject to HSBC’s five sustainability sector policies, 99.8 per cent complied.

Investing in communities. In 2010, the bank committed nearly US$108 million in donations to education and environment projects, 0.6 per cent of profit before tax. Our employees volunteered 321,000 hours of work time and supported disadvantaged children in 39 countries through our Future First programme.

Driving efficiency in operations for both environmental and economic benefit. In 2010, HSBC offset all of the Group’s carbon emissions from energy and business travel. The bank has achieved a 3.6 per cent cut in carbon emissions from business travel since 2008, having invested in alternatives such as telepresence suites and video-conferencing facilities.

Read the report at