Isra-Mart srl:HSBC details Climate Partnership approach to tackling emissions

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Companies that go beyond mere "corporate sponsorship" of green initiatives and actively partner with the public sector, NGOs and governments to drive sustainability initiatives have the best chance of developing lasting solutions to climate change and tapping into a lucrative green goods market.

That is the view of Simon Martin, HSBC's head of sustainability, speaking last night at the launch of the 2010 review of the HSBC's $100m Climate Partnership.

Martin detailed how the five year programme had seen the bank team up with The Climate Group, Earthwatch, The Smithsonian Tropical Research Institute and the WWF as part of a wide-ranging initiative to help reduce the impact of climate change on people, forests, freshwater and cities, and accelerate the adoption of low-carbon policies.

According to yesterday's report, the project has made significant progress and is now just 100,000 hectares short of meeting its target for 2012 of protecting three million hectares of forest.

The group has also improved freshwater water sources for 28 million people, placed 18.5 million hectares of wetland areas under management, and engaged 12 cities in projects to roll out low carbon LED lighting, electric vehicles and Smart IT applications.

For example, projects to prevent pig slurry leaking into the Yangtze River have led to the partnership advising the Chinese Ministry of Water on a 25 year sustainable water management plan, while a trial of a bacteria technology designed to reduce sewage pollution into the Ganges has resulted in the system being implemented by eight Indian cities on the river.

Closer to home, an internal HSBC project to automatically shut down computers overnight has saved over 4.5 million kilowatt hours of electricity and 907 tonnes of CO2, since 2008, equivalent to taking 363 cars off the road for a year.

Martin said that the bank's sustainability achievements showed not only that tangible results could be achieved by companies adopting a more collaborative approach to tackling climate change, but that firms could also benefit from outside expertise as they attempt to tap into a $2.2 trillion global market for low carbon goods

"Solutions to climate change require collective action involving governments, NGOs, the public and the business community," he said. "Businesses are becoming increasingly aware of the financial benefits of operating sustainably and tapping into the low carbon economy."