HSBC launches carbon calculator for SME clients
©HSBC
HSBC UK announced a new partnership with carbon accounting startup Greenly, providing a carbon calculator for small and medium-sized enterprises (SMEs) to measure, assess and address their carbon footprint. According to HSBC, the new solution follows a recent survey by the bank indicating that the lack of advice and support over sustainability measurement presents a significant barrier for SMEs in achieving decarbonization progress.
HSBC piloted the carbon calculator with 50 clients last year, and worked with Greenly to develop two packages, including a basic package enabling clients to carry out an initial assessment to identify their main carbon emissions sources and reduction levers, and a premium package allowing SMEs to understand their carbon emissions in detail, including how to reduce them, with a dedicated climate expert on hand from Greenly to support with reduction strategies. The new packages are available through HSBC’s Sustainability Tracker tool.
Founded in 2019, Paris-based Greenly provides solutions aimed at enabling companies to monitor and reduce and report emissions. The company recently announced that it has raised $52 million in a Series B funding round, which included HSBC as a new investor.
