HSBC has come top in the second annual ethical reputation rankings published by Geneva-based consultancy Covalence. As part of the survey, over two hundred multinational corporations were examined across ten sectors and scores awarded by measuring positive and negative news-flow over a five year period. HSBC was the best performing bank, achieving a clean sweep in the three categories: 'Best Ethical Quote Score', 'Best Ethical Quote Progress', and 'Best Reported Performance'. Overall, it placed sixth across all sectors.
Francis Sullivan, HSBC's Adviser on the Environment, commented: "The Covalence report is an important barometer of how multinationals are perceived in the ethical field and HSBC is delighted to have been recognised in this way."
Today's announcement rounds off an excellent year for HSBC in the area of Corporate Responsibility. Highlights include:
January 2006: HSBC becomes the first major bank to go 'carbon neutral' following a three month trial. It lowers its carbon dioxide (CO2) emissions to zero by reducing energy use, buying green electricity and then offsetting the remaining CO2 emissions by investing in carbon projects.
June 2006: HSBC is named as overall winner in the first FT Sustainable Banking Awards, in recognition of its leadership in merging social, environmental and business objectives. The awards, launched by the FT in association with the International Finance Corporation, the private sector arm of the World Bank, drew 90 entries from 48 financial institutions.
September 2006: HSBC is leading the way in its response to the threat of climate change, according to a report issued by the Carbon Disclosure Project (CDP).The world's local bank took top spot in the Banks and Diversified Financials Sector of the CDP's latest Climate Leadership Index.
Media inquiries to Neil Brazil on 020 7992 1572 or at neilbrazil@hsbc.com
