HSBC has appointed Natalie Blyth as global head of sustainable finance and transition at its corporate and institutional banking division as the bank seeks to commercialise its sustainability operations.

Blyth will bring the legacy commercial banking and central global banking sustainability teams together to lead the development, implementation and execution of CIB’s sustainability framework and strategy and will coordinate with the group sustainability team.

She will report to Danny Alexander, CEO of HSBC infrastructure finance and sustainability, CIB.

The new team will work across the bank with CIB products, banking and functions and help clients meet their sustainable finance and transition ambitions in alignment with HSBC's risk appetite, targets, commitments and regulatory requirements.

The move follows HSBC's combination of commercial and investment banking operations in October in a major overhaul under CEO Georges Elhedery that could see the bank shed more than 15,000 jobs, or up to 8% of its staff.

The bank has made several moves to slim down its ESG team since October. HSBC has reduced its ESG financing and solutions teams after downgrading the chief sustainability officer’s role and pushing its Scope 3 emissions target back by 20 years.

Blyth has spent 30 years in banking spanning investment banking, client coverage, trade and sustainable finance and most recently led the commercial bank's global sustainability business.

She will join the sustainability leadership team comprising global head of export finance Manav Futnani; James Dynon, head of infrastructure finance for Asia and MENAT; Patrick Prange, head of infrastructure finance for Europe and the Americas; and Jonathan Neophytou, chief operating officer of HSBC infrastructure finance.

The CIB division is key to HSBC's net-zero ambitions. The bank pushed back its target of achieving net zero in its supply chain to 2050 after admitting that progress in reducing emissions in its supply chain was only on track to meet 40% of its 2030 target due to the slow pace of decarbonisation in some industries.

HSBC is also reviewing its 2030 financed emissions targets, citing several factors “outside of our control” that have affected its ability to reach the targets, including “government leadership and effective policy”, diversification of the energy mix and demand for climate solutions.

Source: IFR