HSBC pledges $100 billion to combat climate change by 2025

The HSBC headquarters in Istanbul are pictured on June 9, 2015. Scandal-hit bank HSBC said on June 9 it would cut its global headcount by up to 50,000 as part of a restructuring that entails its withdrawal from Brazil and Turkey, while it also mulls abandoning London as its HQ. AFP PHOTO/ OZAN KOSE (Photo credit should read OZAN KOSE/AFP/Getty Images)

HSBC has pledged to provide 100 billion dollars in financing and investment by 2025 to help combat climate change, the bank said on Monday.

HSBC said it will facilitate financial flows to help boost support for clean energy and lower carbon technologies.

“This will involve direct lending, bonds and project finance alongside new products in assets management,” an HSBC spokesman said.

Over recent years, HSBC has helped develop standards for issuers of green bonds and has issued its own 500 million euro ($580 million) green bond. (Reuters/NAN)

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