HSBC Bank Joins TSC to Bring Financial Expertise, Advancing Sustainable Business Practices Across the Consumer Products Industry
SCOTTSDALE, AZ, November 15, 2017 – The Sustainability Consortium (TSC) announced today that HSBC Bank USA has joined as their first member from the financial services industry. HSBC joins over 100 TSC members working to translate the best sustainability science into business tools that are used all over the world to create more sustainable consumer products.
HSBC is one of the world’s largest banking and financial services organizations. HSBC has sustainability commitments already in place, focusing on building their business by balancing issues in social, environmental, and economic sustainability into every decision, and has made significant contributions to solutions worldwide including their $100 million, five year investment in the HSBC Water Program. In addition, in October, HSBC announced that they are an inaugural funder of the Sustainable Apparel Coalition’s Impact Institute, where they are also the first financial services industry partner alongside leading apparel companies. Lastly, in 2015, HSBC pledged to invest $1B in a portfolio of green, social, or sustainable bonds.
By joining TSC’s science-based metrics approach to more transparent supply chains, HSBC will learn from TSC’s diverse membership base made up of leaders in sustainability. The goal is for HSBC to strengthen their own thought leadership around tangible sustainability solutions that will help, not only their own clients, but all in the industry to better understand sustainability risks and make improvements to their own sustainability practices.
HSBC is a leader in the financial industry, and we welcome them as a leader in sustainability. We look forward to learning as much from them as they will from us”
“We are proud to welcome HSBC Bank as TSC’s first financial member. To create more sustainable consumer products, we rely on companies from all industries making commitments to social and environmental sustainability in their business practices. HSBC is a leader in the financial industry, and we welcome them as a leader in sustainability. We look forward to learning as much from them as they will from us,” said TSC Chief Executive, Euan Murray.
“HSBC believes that, in order to create tangible solutions, we all need to come together and that includes those of us in the banking industry.” said Patrick J. Burke, President and CEO of HSBC USA “We know that financing is a powerful incentive to help realize meaningful change, not only for our own clients, but across the consumer products industry. This membership with TSC brings us to the table with industry leaders to discuss our role in helping to achieve a more sustainable future.”
The Sustainability Consortium (TSC) is a global organization transforming the consumer goods industry to deliver more sustainable consumer products. We are dedicated to improving the sustainability of consumer products. Our members and partners include manufacturers, retailers, suppliers, service providers, NGOs, civil society organizations, governmental agencies and academics. Each member brings valuable perspectives and expertise. TSC convenes our diverse stakeholders to work collaboratively to build science-based decision tools and solutions that address sustainability issues that are materially important throughout a product’s supply chain and lifecycle. TSC also offers a portfolio of services to help drive effective implementation. The Sustainability Consortium has more than 100 members and there are over 2,000 users of TSC tools worldwide; it convenes more than 200 global organizations annually over an average of 75 networking opportunities. Formed in 2009, TSC is jointly administered by Arizona State University and the University of Arkansas. It also has a European office at Wageningen University and Research, and a Chinese office in Tianjin, China. For more information visit www.sustainabilityconsortium.org.
HSBC Bank USA, National Association (HSBC Bank USA, N.A.), with assets of US$191.9bn (US GAAP) at 30 June 2017, serves customers through retail banking and wealth management, commercial banking, private banking, and global banking and markets segments. It operates bank branches in: California; Connecticut; Delaware; Washington, D.C.; Florida; Maryland; New Jersey; New York; Pennsylvania; Virginia; and Washington. HSBC Bank USA, N.A. is the principal subsidiary of HSBC USA Inc., a wholly-owned subsidiary of HSBC North America Holdings Inc. HSBC Bank USA, N.A. is a Member of the FDIC. Investment and brokerage services are provided through HSBC Securities (USA) Inc., (Member NYSE/FINRA/ SIPC) and insurance products are provided through HSBC Insurance Agency (USA) Inc.
HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London. The Group serves customers worldwide from around 3,900 offices in 67 countries and territories in Europe, Asia, North and Latin America, and the Middle East and North Africa. With assets of US$2,492bn at 30 June 2017, HSBC is one of the world’s largest banking and financial services organizations.
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