Group Chief Executive’s statement
At HSBC, we are committed to sustainable growth, as our Group Chief Executive Noel Quinn explains:
“How we do business is as important as what we do. Reporting on our environmental, social and governance performance transparently is essential to building stakeholder confidence and creating value for all our stakeholders. Our ESG review – together with other publications – accords with our reporting obligations under terms of the UN Global Compact and renews our commitment to the Compact’s principles.”
Our business has an impact on people all over the world – including customers, employees, suppliers, regulators, investors, and the wider communities we serve. Being sustainable means building strong relationships with these stakeholders and taking into account the issues that matter to them.
We use our international expertise to connect our customers to opportunities around the world.
We are powering new solutions to the climate crisis and supporting the transition to a low-carbon future.
We are building an inclusive organisation that prioritises well-being, invests in learning and careers and prepares our colleagues for the future of work.
And we uphold high standards of corporate governance and ensure we meet our responsibilities to society.
We publish a wide range of information on our performance in relation to environmental, social and governance (ESG) issues. Below you can access our ESG reporting resources and find out more about how we support our different stakeholder groups and do business in a responsible way.
To read more please download:
Modern Slavery Act
The UK’s Modern Slavery Act (the “Act”) came into force in 2015 and is designed to combat modern slavery in organisations and their supply chains in the UK.
In accordance with guidance issued by the Home Office under section 54(9) of the Act, HSBC UK Bank plc
is relying on the Modern Slavery and Human Trafficking Statement produced by HSBC Holdings plc, our ultimate parent company, to meet the requirement of the Act to produce a Statement. The Statement covers the policies and procedures that are applied across the Group under the provisions of the Act and reports on the steps HSBC takes to ensure that Modern Slavery does not take place in its own operations or supply chain, or through its lending or project financing.
The Statement is available on the Group website.
Sustainable Finance Disclosure Regulation
The EU Sustainable Finance Disclosure Regulation (SFDR) imposes new transparency obligations and periodic reporting requirements on EU portfolio managers to disclose how environmental, social and corporate governance (ESG) considerations are incorporated within their investment practices at both a product and portfolio management level. It also imposes obligations on EU firms providing investment advice to disclose how sustainability risks are integrated into their advice. These disclosures are described below.
Under the SFDR, HSBC Global Private Banking is also required to publish information on how its remuneration policies are consistent with the integration of sustainability risks, which can be found on page 252 of the HSBC Holdings Plc 2020 Annual Report and Accounts.
Although an EU regulation, HSBC Global Private Banking is also adopting the SFDR in the UK and Switzerland.