Indeed, sustainability has been at the forefront of leading banks’ forward-looking agendas so far this year, as pressure mounts on global institutions to double down on their efforts to achieve net zero goals.
Just this week, the EU’s climate service announced global warming had exceeded the 1.5C threshold across an entire year for the first time, putting sustainability issues even further under the spotlight.
And, for HSBC and Google Cloud, it is technology that will help define a future of carbon emissions reduction.
Natalie Blyth, Global Head of Commercial Banking Sustainability at HSBC, says: “A step change is needed to scale up the new technologies that will play a critical role in supporting global decarbonisation.
“Partnerships and innovative financing solutions are key, especially during a period when investment in climate tech startups has fallen.
“By combining financing support, cloud technologies and connectivity to partners across our combined footprints, we will help climate tech vendors accelerate their growth, and develop the solutions we urgently need at scale.”
Justin Keeble, Managing Director for Global Sustainability at Google Cloud, adds: “The scale of climate challenge requires a global ecosystem of technology providers bringing solutions that drive impact.
“This is why we launched our Google Cloud Ready – Sustainability ecosystem which – one year in – includes leading climate tech companies. Many of these partners need access to finance and we are excited to partner with HSBC to support firms key to climate action.”