Meaningless Green Ads
HSBC is a major international bank [NYSE: HBC ] that recently placed institutional newspaper ads. Taking up most of the space are 3 pictures of wind turbine towers; the first says “nature”, the middle picture says “future” and the bottom one says “eyesore”. What has this to do with their banking operations?
If you check out their website there is a copy of a speech given by titled “Towards a Low Carbon Global Economy: Environmental Challenges, Practical Solutions.” Now comes the coincidental [?] part: the speaker was their Group Chairman, HSBC Holdings plc, Stephen K. Green . Mr. Green speaking about HSBC’s green activities. In it, Mr. Green states that, “Climate change is the fundamental issue facing humanity this century.” “We at HSBC are on a long journey towards becoming more sustainable. What we have found…that it has demonstrable benefits for the company itself.” I won’t go into all the details that you can find on their website , but they claim that they are now carbon neutral and are spending US$90 million on improving their own carbon footprint. New software to shut off 300,000 computers at the end of the day will save about US$30 million/yr.
So was their ad meaningless? Not altogether. They got mentioned in GreenEnergyForEarth.com & we now know that their Chairman is Mr. Green .
