HSBC have written a set of guidelines that set standards for responsible/sustainable investment in the following sectors:
- Mining and Metals.
Activities in this sector can be complex and varied and if not managed responsibly, have potentially significant impacts on the environment.
- Chemicals industry.
The guideline covers Agricultural Chemicals, Petrochemicals, Speciality Chemicals and Gases. It sets out broad principles of good chemical production and handling and helps HSBC’s customers to work towards sustainable chemical management.
- Energy.
The guidelines seek to minimise the potentially high environmental or social impact of activity in this sector. It also states circumstances where HSBC will not provide services eg where the energy provider is operating in UNESCO World Heritage Sites.
- Freshwater infrastructure.
This guide is based on widely adopted international sustainable development standards adopted by organisations such as the World Commission on Dams (WCD), as well as other industry participants, development agencies and major environmental non-governmental organisations.
- Forest Land and Forest Products.
The guideline sets out broad principles of good forest management and covers the following industries and activities: forestry; timber and timber products/processing; timber trading; plantations (pulp, timber, oil palm, rubber); forest conversion.
This is a good example of How to be a forceforgood company because it demonstrates a mindset of corporate responsibility as integral to doing business. The guidelines have a wider benefit than just to HSBC as they can be utilised by other financial service operators.
You can download the guidelines from
here.