SOHEL PARVEZ and AKM ZAMIR UDDIN

The Hong Kong and Shanghai Banking Corporation (HSBC) has set a goal to provide between $750 billion and $1 trillion in financing and investment globally in the next decade to support its clients to lower carbon emissions and achieve sustainable growth.

“HSBC is going to provide its clients the access to the fund to encourage them to turn their production facilities green in order to guide them towards net zero emission,” said Amanda Murphy, head of commercial banking of the bank for South and Southeast Asia.

In recent years, the London-headquartered but Asia-focused lender has stepped up its green lending in Bangladesh as well.

HSBC Bangladesh has structured tailored sustainable finance solutions of more than $300 million in the last two years. It also introduced the first-ever sustainability linked loan, which is connected to environmental, social and governance performance targets, for Square Group in 2020.

“We will continue to assist clients to achieve their sustainability goals. As part of that commitment, HSBC Bangladesh has taken the leading position in Bangladesh to drive sustainable financing,” Murphy said in an interview with The Daily Star in Dhaka.

“We also believe, as a global bank, it is our duty to take a pole position in terms of tackling the climate challenge.”

Murphy was in the capital last month to celebrate the silver jubilee of the international bank in the country.

The British multinational lender opened its first office in Dhaka in 1996.

Today, it accounts for 10.5 per cent of the market share in trade financing and facilitation as it offers a full range of banking services to customers through wholesale banking and wealth and personal banking.

HSBC has a presence in all of the eight export processing zones to facilitate international trade.

During her stay, Murphy visited several factories financed by HSBC, one of the world’s largest banking and financial services organisations.

“One of the things that really impresses me so much for Bangladesh’s customers is that all of them are talking about their commitment to climate change. They are talking about their commitment to social goals,” she said.

This was her third visit to the country.

She joined HSBC in 1994 and now oversees 13 markets, including Australia, Bangladesh, India, Indonesia, Malaysia, New Zealand and Singapore.

Murphy said there have been many changes in Bangladesh in the last 10 years.

“Leading factories are being built here. They are committed to sustainable principles and are working closely to be internationally recognised.”

She thinks making factories green would benefit entrepreneurs.

Big buyers in the US and Europe want to source goods from the factories that have the right certified standards.

“So, we are seeing that shift,” she said.

“Years ago, we did not necessarily have an understanding perhaps. Now all the western companies, the big buyers have expectations of what they want to see in the labour conditions.”

The top official of HSBC shared the bank’s focus on digitalisation.

“Technology is important for speed, price and convenience for customers. It is very important to us. Change is all around and it is getting faster and faster.”

“And, we strongly believe that future is a combination of having very good technology and really great people,” she said, adding that the partnership between technology and people makes difference for customers.