As part of HSBC’s ambition to support its customers in their transition to net zero and a sustainable future, the bank aims globally to provide and facilitate $750bn to $1tn of sustainable finance and investments by 2030.
While the sustainable finance market has predominately focused on larger corporations, small and medium-sized enterprises are increasingly being described as the ‘new front’ in the battle against climate change.
The new £500m fund is available for businesses with a turnover of less than £25m and will offer 1% cashback on loans, starting from £1,0002 to help SMEs invest in green activities. This is the first green offering for small businesses with a cashback proposal in the UK.