April 2005 - HSBC Bank announced that it has entered into an agreement with 3 Phases Energy (now serviced by 3Degrees) to purchase wind energy certificates equivalent to 30% of its electricity needs. HSBC will purchase 45 million kWh annually of Green-e certified renewable energy certificates sourced from new wind projects in California and Minnesota, making it one of the largest retail green power purchases in North America.
Last December, HSBC became the world's first major bank to commit to carbon neutrality. The bank plans to achieve this goal by reducing energy use, buying green electricity, and offsetting the remaining carbon dioxide emissions by investing in carbon credit or allowance projects.
News Release - HSBC Bank USA, N.A. Makes Landmark Earth Day Renewable Energy Commitment
HSBC Contact: Kathleen Rizzo Young (716) 841-5003