HSBC

Company Score

-0.34
Industry Banks
Country United Kingdom
Year Added 2018
Impact Ratings 810
Impact Notes 22
SDG Covered 10 out of 17

HSBC Holdings Plc engages in the provision of banking and financial services. It operates through the following business segments: Retail Banking and Wealth Management, Commercial Banking, Global Banking and Markets, Global Private Banking, and Corporate Centre. The company was founded on January 1, 1959 and is headquartered in London, the United Kingdom.

Read about HSBC and its impact below.

Impact notes

Life on Land

HSBC invested $1,107.41Mn in forest risk commodities in the Amazon between 2018 and 2020

Profile Homa Praveen
Icon time Wed Jun 9th, 2021 at 11:11pm

Globally, the yearly deforestation rate stands at 10 Mn hectares (Ha)1. Deforestation causes soil erosion, flooding, increased GHG, and displacement of indigenous people2. The majority of deforestation (2/3rd) is caused to produce commodities like beef, timber, palm oil, soy, etc.3;p3. Every year 7 Bn tonnes of CO2 could be removed from the atmosphere by tackling deforestation4.

Peace, Justice and Strong Institutions

HSBC invested $2.97 bn in companies associated with supplying weapons to high-risk countries

Profile Kanak Gupta
Icon time Fri May 28th, 2021 at 5:01pm

The spread of over 1 billion (bn) small arms globally is responsible for fueling conflict deaths, with 200,000 mortalities every year between 2010 and 20151. As of March 2021, there were 13,100 nuclear weapons globally, of which nearly 9,590 were in military stockpiles2. Imprudent arms trade often cause severe violation of human rights & humanitarian law3.

Peace, Justice and Strong Institutions

HSBC allowed suspicious transactions of up to USD1.5 billion, promoting criminal operations

Profile olu omo
Icon time Mon Feb 8th, 2021 at 8:54pm

Annually, the estimated amount of money laundered is in the range of USD800bn to USD2tn, which represents 2-5% of global GDP1;p3. Money laundering promotes crime, allowing drug traffickers, smugglers, and other criminals to expand their operations2;p8. The major channel fraudsters and criminals use in money laundering is through banks and financial institutions1;p3.

Quality Education

HSBC's financial education reached over 30,000 people in 2019

Profile MarĂ­a
Icon time Wed Oct 7th, 2020 at 8:22am

A suitable practice to help global economic growth, sustainable development and in particular upgrade financial inclusion and well-being outcome is by investing in financial literacy programmes1;p315-year-old students with high proficiency in financial literacy are more likely than those with low proficiency to be oriented towards saving, to expect to complete a university education and to work in a high-skilled occupation, data show by a recent PISA 2015 study. Moreover, half of the adults in G20 countries achieved the minimum target score of at least six out of nine financial behaviors required to improve financial well-being1;p8.

Peace, Justice and Strong Institutions

In 2018, HSBC faced data breach spanning over 10 days exposing customer's details to hackers

Profile Sunny Dutt Sharma
Icon time Mon Aug 31st, 2020 at 1:42pm

In 2020, globally, on average, a data breach costs $3.86 million9. In the first half of 2019, 4.1 billion records were exposed due to data breaches. In 2019, cyber-crime cost businesses more than $2 trillion, and this cost is expected to reach $6 trillion by 20211. In 2018, banking industry experienced the most cyber-attacks, accounted for $18.3 million2.