HSBC sets CO2 limits for capital markets

Green support: An HSBC signage at the bank’s branch in Hong Kong. HSBC’s so-called facilitated emissions targets will include debt and equity capital markets as well as syndicated loans. — Bloomberg

LONDON: HSBC Holdings Plc has become one of the first global banks to set targets for limiting the carbon footprint of its capital markets business.

The bank’s so-called facilitated emissions targets will apply to its underwriting of deals for the oil and gas, as well as power and utilities sectors, according to its annual report published on Wednesday.