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Empowering green futures: HSBC partners with Google to boost environmental solutions

HSBC has teamed up with Google Cloud to financially back firms that are at the forefront of creating technology-driven solutions for nature conservation. This partnership centres around Google Cloud's Ready-Sustainability programme, which is designed to assist companies on their path to sustainability, focusing on reducing emissions and improving environmental governance.

HSBC partners with Google to boost environmental solutions_Close-up of lush tree crowns against blue sky_visual 1Close-up of lush tree crowns against blue sky. AI generated picture.

The collaboration aims to expand Google Cloud's sustainability programme, which already includes prominent companies like Airbus and Planet Labs. HSBC's commitment includes allocating in the early stages $1 billion by 2030 to climate tech ventures across various sectors, such as electric vehicles and sustainable food systems. This financial support is crucial for companies that have undergone Google's rigorous validation process, ensuring their technology aligns with scientific climate goals and has market potential.

Read more: EU proposes regulations and support for strategic green technologies

HSBC’s climate tech finance team will offer venture debt financing options to members of the Google Cloud sustainability programme, with the first package being awarded to LevelTen Energy. This initiative is part of HSBC's broader goal to facilitate up to $1 trillion in sustainable financing by 2030, supporting the transition to a low-carbon economy.

Read more: Bullish growth projections in the carbon market

Highlighting the importance of this partnership, HSBC's global head of commercial banking sustainability, Natalie Blyth, stressed the need for innovative financing solutions to accelerate the growth of green tech solutions. This collaboration comes as climate tech startups saw a surge in venture capital funding, with $7.6 billion raised in Q3 2023 alone.

The partnership not only aims to advance technological solutions to environmental challenges but also supports HSBC's net zero transition plan, which includes reducing financing for carbon-intensive sectors. It builds on HSBC's acquisition of Silicon Valley Bank's UK branch, furthering its commitment to support the startup ecosystem and the broader goal of achieving net-zero emissions by 2050.

DGB Group assists businesses in adopting eco-friendly practices that support the shift towards an economy that is both low in carbon and beneficial to the environment. With the carbon markets expanding, the importance of solutions derived from natural processes is becoming more prominent. This expansion is fueled by an increased demand for carbon credits (carbon units), typically produced through initiatives such as tree planting. 

These efforts are crucial for meeting environmental objectives and provide a practical means for individuals, organisations, and governments to partake in global efforts to reduce carbon emissions. Highlighting the significant effects of nature-based initiatives on our environment can spark a shift towards a more sustainable and greener future. Through your investment in nature-based solutions (NBS) with DGB, you're not only minimising your ecological footprint but also leveraging the burgeoning carbon market to create a positive impact on nature.

Create a positive impact on our planet with DGB’s tailored solutions

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