HSBC Launches Dedicated ESG Unit

   By Stephen Nakrosis

HSBC Holdings PLC said Monday it was forming a dedicated Environmental, Social and Governance Solutions unit "to help clients around the world rebuild and transition their businesses and economies in a more sustainable way post-Covid-19."

The ESG unit will be part of HSBC's new Strategic Solutions Group, which will also contain components focusing on Corporate Finance Solutions and one on Financial Institutions and Capital Solutions, the company said.

"Post-Covid, we have a unique opportunity to rebuild our economies and companies so they are more financially resilient and can transition to more sustainable business models," said Greg Guyett, co-chief executive of Global Banking and Markets at HSBC. "This new group will work with all our bankers across sector, product and geography to assess client needs and deliver actionable solutions which are in the best interests of our clients."

The ESG Solutions unit will be led by Jonathan Drew, based in Hong Kong, working with Farnam Bidgoli in London and Julie Bennett in New York, HSBC said. The Strategic Solutions Group will be led globally by Nik Dhanani.

Last week, HSBC said it was launching a new reporting service to assist clients in assessing the focus of how their asset investments range on environmental, social and corporate governance issues.

--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

July 27, 2020 17:07 ET (21:07 GMT)

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