The HSBC Group has been rated first in the three categories of Best Ethical Quote Score, Best Ethical Quote Progress and Best Reported Performance of the Geneva-based consultancy Covalence’s annual ethical reputation rankings.

Overall, it was placed sixth across all sectors.

As part of the survey, over 200 multinational corporations were examined across 10 sectors and scores were awarded by measuring positive and negative news-flow over a five year period.

HSBC Malta CEO Shaun Wallis said: “The Covalence report is an important indicator of how global organisations are perceived in the ethical field. These ratings endorse HSBC’s efforts globally in the area of corporate social responsibility. Here in Malta we also place great importance on our involvement in and contribution to the local community.”

In January, 2006 the HSBC Group became the first major bank group to go “carbon neutral” following a three-month trial. It lowered its carbon dioxide (CO2) emissions to zero by reducing energy use, buying green electricity and then offsetting the remaining CO2 emissions by investing in carbon neutral projects.

The HSBC Group is also leading the way in its response to the threat of climate change, according to a report issued by the Carbon Disclosure Project (CDP). The group took top spot in the Banks and Diversified Financials Sector of the CDP’s latest Climate Leadership Index.