HSBC UK Launches Carbon Calculator for SME Clients

HSBC UK has 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, this 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 – a basic package enabling clients to carry out an initial assessment, and a premium package allowing SMEs to understand their carbon emissions in detail and receive support from a dedicated climate expert. The new packages are available through HSBC’s Sustainability Tracker tool. Rob King, Head of Commercial Banking Sustainability at HSBC UK, stated that the goal is to support carbon data measuring and help SMEs beginning their sustainability journey. Founded in 2019, Greenly recently announced a $52 million Series B funding round that included HSBC as a new investor, signifying the importance of this collaboration in empowering SMEs to make informed, sustainable decisions. Resources: https://www.esgtoday.com/hsbc-uk-launches-carbon-calculator-for-sme-clients/