HSBC UK launches carbon calculator to help SME clients track and measure their carbon footprint
Greenly’s platform is designed to help small and medium-sized businesses (SMEs) with their transition journey by providing a reliable data tracking and reporting solution.
With almost six million SMEs in the UK1, they have a significant role to play in the race to decarbonise emissions. However, a recent HSBC survey on SME customer needs found a lack of advice and support over sustainability measurement remains a significant barrier to achieving effective change2.
Following a global review of carbon management platforms, HSBC UK piloted the carbon calculator with 50 clients in 2023 and, based on feedback from this, worked with Greenly to develop two packages for business customers, which can be accessed through HSBC’s Sustainability Tracker tool3.
Both packages provide an auditable Greenhouse Gas (GHG) Protocol compliant report for SMEs to share with key stakeholders or use as an input to report carbon emissions for CDP, Science Based Targets initiative (SBTi), and the Corporate Sustainability Reporting Directive (CSRD).
- The basic package enables SMEs to carry out an initial assessment to identify their main carbon emissions sources and reduction levers.
- The premium package allows SMEs to understand their carbon emissions in detail and how to reduce them, with a dedicated climate expert on hand from Greenly to support with reduction strategies.
Rob King, Head of Commercial Banking Sustainability, HSBC UK, said: “Measuring their carbon emissions and identifying the main sources of emissions is an important step for SMEs when it comes to developing an effective transition plan. Our goal with the Greenly carbon calculator is to support carbon data measuring and help SMEs beginning their sustainability journey.”
Commenting, Alexis Normand, CEO & Cofounder of Greenly, said: "Collaborating with HSBC UK to integrate our innovative carbon footprint assessment technology into its Sustainability Tracker is a significant step towards empowering SMEs to make informed, sustainable decisions. Greenly is committed to driving positive environmental impact and accelerating the transition to a low-carbon economy."
This launch follows the recent introduction of HSBC UK’s Buildings Sustainability Assessment Tool4 which provides property portfolio firms with a summary of their portfolio (including annual emissions and energy costs), and current or estimated EPC ratings, together with tailored recommendations to help achieve energy and carbon emissions reductions.
Media enquiries to:
Robert Cox, Media Relations, HSBC UK, robert.cox@hsbc.com
Note to editors:
HSBC UK will not receive any form of commission or referral fee as part of the referral.
1 Source: BEIS (2021) Business population estimates for the UK and regions 2021
2 Source: FY23 CMB Strategic Survey. Sample Size: All Respondents: Global: 12800, UK: 2716
3 HSBC Sustainability Tracker: HSBC UK | Sustainability Tracker
This tool has been launched in the UK, HK, India, Malaysia, France & Mexico – Greenly is only available in the UK.
4 Source: HSBC UK’s Buildings Sustainability Assessment Tool: HSBC Buildings Sustainability Assessment Tool | HSBC UK
HSBC UK
HSBC UK serves over 14.7 million active customers across the UK, supported by 23,700 colleagues. HSBC UK offers a complete range of retail banking and wealth management to personal and private banking customers, as well as commercial banking for small to medium businesses and large corporates. HSBC UK is a ring fenced bank and wholly owned subsidiary of HSBC Holdings plc.
HSBC Holdings plc, the parent company of HSBC, is headquartered in London. HSBC serves customers worldwide from offices in 62 countries and territories. With assets of US$3,001bn at 31 March 2024, HSBC is one of the world’s largest banking and financial services organisations.