HSBC UK has partnered with carbon management company, Greenly, to support clients to measure their carbon footprint by enabling them to identify their main sources of carbon emissions and spot opportunities to reduce them.
Greenly’s platform is designed to help small- and medium-sized enterprises (SMEs) with their transition journey by providing a reliable data tracking and reporting solution.
With almost 6 million SMEs in the UK, they have a significant role to play in the race to decarbonise emissions. However, a recent HSBC survey on SME customer needs found a lack of advice and support over sustainability measurement remains a significant barrier to achieving effective change.
Following a global review of carbon management platforms, HSBC UK piloted the carbon calculator with 50 clients in 2023 and, based on feedback from this, worked with Greenly to develop two packages for business customers, which can be accessed through HSBC’s Sustainability Tracker tool.
Both packages provide an auditable Greenhouse Gas (GHG) Protocol compliant report for SMEs to share with key stakeholders or used as an input to report carbon emissions for CDP, Science Based Targets initiative (SBTi) and the Corporate Sustainability Reporting Directive (CSRD).
The basic package enables SMEs to carry out an initial assessment to identify their main carbon emissions sources and reduction levers.
The premium package allows SMEs to understand their carbon emissions in detail and how to reduce them, with a dedicated climate expert on hand from Greenly to support with reduction strategies.
Rob King, Head of Commercial Banking Sustainability, HSBC UK, said:“Measuring their carbon emissions and identifying the main sources of emissions is an important step for SMEs when it comes to developing an effective transition plan. Our goal with the Greenly carbon calculator is to support carbon data measuring and help SMEs beginning their sustainability journey.”
Alexis Normand, CEO & Co-founder of Greenly, said: “Collaborating with HSBC UK to integrate our innovative carbon footprint assessment technology into its Sustainability Tracker is a significant step towards empowering SMEs to make informed, sustainable decisions. Greenly is committed to driving positive environmental impact and accelerating the transition to a low-carbon economy.”
This launch follows the recent introduction of HSBC UK’s Buildings Sustainability Assessment Tool which provides property portfolio firms with a summary of their portfolio (including annual emissions and energy costs) and current or estimated EPC ratings, together with tailored recommendations to help achieve energy and carbon emissions reductions.
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