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Bahrain: HSBC Bahrain inaugurated the solar powered parking area at its Adliya branch today, the second project of its kind for HSBC in Bahrain and another first for the banking and finance industry in the country. With this additional solar power plant for HSBC offices in Bahrain, the total solar energy production is a 20%Kw/h estimated energy reduction for all HSBC operations in Bahrain which include Seef Head Office, Adliya branch and off site ATMs.
The solar energy system was inaugurated during a ceremony under the patronage of Dr. Abdul-Hussain bin Ali Mirza, Chairman of the Sustainable Energy Authority, in the presence of Mr. Abdul Fattah Sharaf, CEO of HSBC Bank UAE, Head of International Markets at HSBC Bank Middle East and Mr. Chris Hutton Chief Operating Officer of HSBC Bank Middle East Africa and Mr. Chris Russell, CEO of HSBC Bank Bahrain.
In his opening speech H.E. Dr. Mirza praised the leadership of the Kingdom of Bahrain for supporting the Sustainable Energy Authority and the importance of the authority’s role in preparing and enabling the sustainable energy sector as a key pillar for diversifying the economy, drving sustainability and reaching national goals related to renewable energy and the environment.
Dr. Mirza also praised HSBC's important contributions to the development of the banking sector. Dr. Mirza added that HSBC’s initiative as the first bank in the Kingdom to set a clear goal of total reliance on clean solar energy in all its branches and the project launched today, confirm the commitment of the bank to transitioning to net zero by 2030.
Abdulfattah Sharaf, in his opening words, said: “In October 2020, HSBC Group announced its commitment to transition to a global net-zero economy. We’re doing this across the bank – in our operations and supply chain – and by supporting our customers in their own transitions. We believe that our commitment will open up a world of opportunity for our customers, communities and employees. It will lead to change that will encourage innovative thinking and new developments for a better sustainable future.”
HSBC has pioneered these renewable energy projects in the banking sector in Bahrain with the initial project in Seef and now the second project in Adliya. By converting nearly 50+ unshaded car parking spaces in Adliya Branch to solar panels in addition to installing the same on the roof top, it will be generating renewable energy whilst reducing the building’s energyconsumption by 67%. This project capacity is 175.5 KW and improves the service and experience of customers while protecting the planet.
“This is an important achievement for HSBC Bahrain and demonstrates that we are not just playing our part in supporting the transition to carbon net-zero economies, but we are helping to lead it. We have a robust ESG agenda for the bank in Bahrain and will continue to inspire the much needed change to set the pace for reform in our communities and for our customers,” said Chris Russell, CEO of HSBC in Bahrain.
HSBC has an ambitious plan to tackle climate change and is mobilising finance to support customers’ transitions to net zero, accelerating innovation to help scale up climate change solutions and building global partnerships to ensure investment is swiftly channelled towards truly sustainable projects. Details about HSBC’s climate strategy are available on https://www.hsbc.com/who-we-are/our-climate-strategy
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Media Contact
Greta Madgwick
+974 44254224
greta.madgwick@hsbc.com
HSBC in the MENAT Region
HSBC is the largest and most widely represented international banking organisation in the Middle East, North Africa and Turkey (MENAT), with a presence in 9 countries across the region. HSBC has operations in the United Arab Emirates, Egypt, Turkey, Qatar, Oman, Bahrain, Kuwait and Algeria. In Saudi Arabia, HSBC is a 40% shareholder of Saudi British Bank (SABB), and a 49% shareholder of HSBC Saudi Arabia for investment banking in the Kingdom.
This presence, the widest reach of any international bank in the region, comprises some 350 offices and around 10,500 employees. In the year ending 31st December 2018, HSBC in the MENAT region made a reported profit before tax of US$ 1,557m.
© Press Release 2021
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