Key points
- The energy mix financed by HSBC France is as follows: 0% coal, 71% oil and gas, 27% electricity and 2% biomass. This is in line with the IEA’s 2°C scenario for coal.
- The electricity mix financed by HSBC France, with a CO2 emissions factor of 97g CO2/kwh, is in line with the IAE’s 2°C trajectory, and already below expected levels for 2030-2035.
- In the transport sector, the mix financed by HSBC France is as follows: 61% air, 26% marine and rail and 9% road. That gives an emissions factor of 132g CO2 per passenger-kilometre, bringing the mix in line with the IEA’s 2°C trajectory by 2020.
- A larger understanding of HSBC France exposure to transition risk is needed. A second exercise is being conducted for the real estate and industry sectors in 2017-2018
- Ensuring HSBC staff understands climate risk is important so everyone can consider the climate risks and opportunities of their own activities.