Climate Solutions Partnership: HSBC banks on $100m initiative with WRI and WWF
Share
Image:
HSBC is to team up with WWF and WRI to launch a new Nature Based Solutions Accelerator as part of a major new global partnership / Credit: HSBC
Banking giant announces major new global initiative that will see it work with WWF and the World Resources Institute to unlock barriers to clean tech investment and drive development of nature-based solutions
HSBC has today announced the launch of a new $100m partnership with World Resources Institute (WRI) and WWF designed to tackle barriers to financing start-ups and projects that can accelerate global climate action.
Investors and businesses urged to address $700bn nature-based solutions finance gap
A new report has warned that a $700bn investment gap into Nature-based Solutions needs to be addressed in order to meet wider net-zero goals and combat the climate crisis.
Estimates suggest that financing this market will reach $854bn annually by 2030 to halt natural degradation
The findings come from the Green Purposes Company (GPC), a not-for-profit dedicated to safeguarding the aims of the Green Investment Bank (GIB) prior to its privatisation. GPC worked with Finance Earth to publish a new report on the urgent need to accelerate and scale-up investment in nature.
The US$100m global initiative aims to accelerate efforts to build a net zero global economy, forms part of HSBC’s climate strategy
LONDON (May 20, 2021) HSBC, in partnership with World Resources Institute (WRI) and WWF, today unveils their Climate Solutions Partnership to unlock barriers to finance for companies and projects that tackle climate change. The partnership’s three workstreams focus on start-up firms developing carbon-cutting technologies, projects that protect and restore biodiversity, and initiatives to help transition energy growth to renewables in Asia.
The partnership aims to bring emerging climate solutions to commercial viability and scale. It will do this by supporting sustainable projects that would otherwise face barriers to finance due to insufficient policy and regulatory frameworks, gaps between demand and supply, or a lack of mature measurement tools and business cases. By focusing on on-the-ground projects, it will help to catalyse systemic solution