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    HSBC finances the transition to low carbon mobility

    Three questions for Thuy-Tien Gluck, Head of Sustainability, HSBC Continental Europe, premium partner of the next edition of the Energy for Smart Mobility Forum, on October 6 & 7.

    E4SM : What role does sustainable finance play at HSBC?

    Thuy-Tien Gluck : Sustainable finance is at the heart of HSBC’s strategy and we fully recognize the central role that banking can and should play in transforming our economies towards low-carbon and resource-efficient models. More specifically, HSBC has made a number of strong commitments in support of climate action and sustainable growth. For instance, we have set ourselves the target of reaching Net Zero by 2050 for our financing and investments, and by 2030 for our operations.

    Our ambition is to support our clients through their energy and environmental transition, providing between USD 750 billion and USD 1,000 billion of sustainable financing and investment over the next ten years.

    E4SM : How can green finance support the energy transition in the transport sector?

    Thuy-Tien Gluck : The 6th IPCC report is clear. The sheer scale of recent changes and the current state of the climate are both unprecedented. A strong, rapid and lasting effort to reduce CO2 and methane emissions is essential to limiting global warming. The transport sector emits a quarter of the world’s greenhouse gases. It must therefore undergo a dramatic transformation to cut its greenhouse gas emissions by 90% and achieve zero net by 2050 while ensuring affordable solutions for consumers.

    New solutions are already beginning to emerge, particularly with regards to energy-efficient transport systems (recharging infrastructure, hydrogen, electric batteries, etc.). However, their deployment requires significant investment and financing. Green finance is a key driver in the transition to a low-carbon economy and the range of instruments it offers is rapidly expanding (Sustainability-Linked Loans, Green bonds, etc.). It therefore has a major role to play in supporting decarbonizing projects in the transport sector.

    E4SM : What do you expect from your participation in the 4th E4SM Forum?

    Thuy-Tien Gluck : A collective effort is needed to achieve the decarbonizing of the transport sector. Partnerships between stakeholders represented at the E4SM forum – companies, start-ups, public sector agencies, research bodies and financial institutions – are therefore necessary to create the synergies that will help us build innovative investment and financing solutions.

    We have been sponsoring this unique event since its foundation because we have seen how much it contributes positively to the emergence and deployment of sustainable transport solutions.

    Practically speaking, the first three events have enabled us to meet and establish strong connections with clients working in the renewable energy sector, to build up contacts within the regional sustainable transport ecosystem and beyond, and to identify innovative solutions for the future.

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