HSBC Bank Malta plc has won the The Conservation Award For Sustainable Development, as part of the 2005 Environment Award for Industry, presented by the University of Malta’s Cleaner Technology Centre. HSBC won the award on the basis of its efforts, as a bank, and through its Cares For The Environment Fund (HCEF), to reduce the consumption of energy, water and materials. Apart from reducing HSBC’s own impact on Malta’s environment, the bank has also contributed to HSBC Group successfully becoming the first leading financial services company to become carbon-neutral. The bank has also actively supported a number of environmental projects throughout the Maltese Islands.

Through the HSBC Cares For The Environment Fund, Lm15,000 has been invested in planting new trees. The first 2000 of these trees were planted at Salina Park at the end of October. The bank is also involved in HSBC Group’s Investing In Nature initiative, through which 37 Maltese employees will, by then end of 2006, have taken part in Earthwatch research expeditions and then set up their own projects in Malta.

In terms of reducing its own impact on Malta’s environment, HSBC has reduced harmful emissions particularly of carbon dioxide and other ozone-depleting gases. This has been done by introducing energy conservation materials and practices into its buildings. HSBC has also reduced water consumption, through the use of storm water, where possible. As part of its refurbishment programme, the bank is also replacing its air-conditioners with new models which are ozone friendly.

Apart from infrastructural work to reduce energy consumption, HSBC has also taken steps to reduce waste and to increase recycling. Technology has played a central role in this effort. Internal communications are now conducted electronically and through the bank’s internet banking service, 18,000 customers are now receiving electronic statements rather than being mailed paper ones. These developments have resulted in the saving of some 100,000 pages of pages in a year and the elimination of the need to print some 500 pages of reports per day.

In the wider community, HSBC is offering discounts on eco-friendly home products such as solar heaters to home loans customers. The bank also uses the “Equator Principles” when deciding on providing finance for large projects.

These principles aim to ensure that projects financed by financial institutions are developed in a manner which is socially responsible and reflect sound environmental management practices.

“Sustainable development is essential if economic prosperity is to be guaranteed. As a global organisation, HSBC has a particular responsibility when it comes to protecting the environment. In Malta, HSBC takes this responsibility very seriously and works hard to reduce its own impact on the environment and to support organisations and initiatives which aim to improve the local environment. This award recognises our efforts and encourages us to continue building on what has already been accomplished,” said HSBC’s CEO, Mr Shaun Wallis.