Analysis of HSBC Sustainability Report

Authors Avatar

 


CONTENTS

INTRODUCTION

HSBC – The World’s Local Bank

Hongkong Shanghai Banking Corporation (HSBC) is one of the largest banking and financial services organizations in the world.

Headquarter: London 

Market Capitalization-- US$180bn 

Network: HSBC's comprises around 8,000 offices in 88 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa.

Shareholders: Shares in HSBC Holdings plc are held by around 220,000 shareholders in 119 countries and territories. It is listed on the London, Hong Kong, New York, Paris and Bermuda stock exchanges. Shares are traded on the New York Stock Exchange in the form of American Depositary Receipts.

Activities: With a wide international network aided by advanced technology and a fast growing e-commerce capability, HSBC provides an inclusive range of financial services: personal financial services; commercial banking; corporate, investment banking and markets; private banking; and other activities.

Corporate Social Responsibility

“Our goal is not, and never has been, profit at any cost because we know that tomorrow's success depends on the trust we build today. Companies like ours must share responsibility for the environment with governments and citizens for minimising the damaging effects of human activity - pollution of land, water and air and the depletion of resources.” (HSBC Holdings plc Sustainability Report , 2011)

Corporate social responsibility, or 'CSR', means managing business responsibly and sensitively for long-term success. HSBC aims to address the expectations of its customers, shareholders, employees and other stakeholders.

Being one of the world's biggest banks means the decisions it makes can have a big impact. HSBC looks to lend and invest responsibly, avoiding projects which can cause social and environmental damage that exceed the economic benefits.

Pillars of corporate sustainability

At HSBC, CSR forms an integral part of the way it does business. Over the years, the Group's work in this field has evolved significantly. Today its initiatives span across the country, collaborating with businesses, employees, not-for-profit organisations and customers across 26 cities.

HSBC's CSR practice rests on the pillars of education, financial inclusion, environment sustainability and employee engagement, the ultimate purpose being to achieve sustainability for business and build prosperous communities.

Initiatives

HSBC has based its corporate social responsibility on 3 broad categories:

  • Financial Inclusion
  • Environment
  • Employee Volunteering

The initiatives under financial inclusion look at improving the life of the marginalized sections of society, through provision of education as well as livelihood skills to youth and women. Under environment, HSBC targets conservation of the biodiversity and climate change. Finally, under employee volunteering or employee engagement it encourages participation of its employees in the various programs and initiatives that it undertakes.

Financial Inclusion

HSBC looks at providing education to underprivileged children. A major initiative taken by HSBC in this regard is the Future First program. This is a $10 million, 5 year (2007-2012) program run by HSBC Global in around 49 countries. To implement this, HSBC partners with various NGO’s by providing them with support. Some examples are:

Prayas ,an NGO that works with the underprivileged children and provides them with clothing, shelter, food, tries to strive for holistic development by addressing the root causes of their suffering. Future First supports a centre in northern Delhi that provides bridge courses for out-of-school slum children aged 6 - 14 years with the aim to mainstream them into the formal education system.

Join now!

SOS Children's Villages of India’s mission is to provide abandoned and orphaned children with a family, a home, education and a foundation for an independent life. Future First is supporting a family home in Faridabad and Family Strengthening Programmes in Anagpur (Haryana), Bhuj (Gujarat) and Latur (Maharashtra) for the benefit of children facing the risk of abandonment.

Parivartan Social Welfare Society runs community based education centres serving about 2000 out-of-school slum children every year. The project supported by Future First, in Kolkata, aims to provide non-formal education to street children, mainstream these children into formal school and retain enrolled children in ...

This is a preview of the whole essay