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HSBC

Company Score

-0.15
Industry Banks
Country United Kingdom
Year Added 2018
Impact Ratings 580
Impact Notes 18
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

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.

Gender Equality

HSBC advocates for LGBT+ community rights in the United Kingdom

Profile Kat Licaros dela Cruz
Icon time Wed Aug 12th, 2020 at 8:48pm

According to the UN, more 1/3 of the world’s countries criminalize consensual, loving same-sex relationships, entrenching prejudice and putting millions of people at risk of blackmail, arrest and imprisonment.6

Decent work and Economic Growth

HSBC administrative glitch causes thousands of SMB loans in the UK to be wrongly assigned; about 42% applicants made to wait over a month before being turned down

Profile akayyangar
Icon time Wed Aug 5th, 2020 at 8:13am

When the earlier introduced Coronavirus Business Interruption Loan Scheme (CBILS) seemed complicated and not borrower-friendly, which lead to poor response from affected small-to-medium-sized businesses (SMBs), the UK Government came up with an alternative called the Bounce Back Loans Scheme (BBLS)1, designed to be simpler and quicker.

Responsible Consumption and Production

In 2019, HSBC achieved a 66% reduction in total waste produced against a 2011 baseline

Profile Santanu chaudhuri
Icon time Tue Aug 4th, 2020 at 8:15am

The world bank states that global waste generation will jump to 3.4 billion tons annually from the 2016 baseline and is projected to grow by 70% till 20501. E-waste is a significant waste contributor, with 53.6 million MT generated globally in 20192. Corporate offices also contribute to a substantial amount of all waste generated, including E-waste3.

Quality Education

HSBC supports education, training and employability for all

Profile Rgrun1
Icon time Tue Jul 28th, 2020 at 5:41am

The UN has stated that in 2018, the world’s youth were 3 times more likely to be unemployed than adults and around one-fifth of young adults were neither in employment, education, or training. Young women are twice as likely to not be in any form of education or employment.1p;14-15 This is likely to have been exacerbated by the current situations surrounding COVID-19.

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