HSBC-backed platform drives green transition capital to emerging markets amid global risks
HSBC has teamed up with partners to launch a non-profit platform to help emerging markets in upgrading their technology and shifting from oil and coal to renewable energy, according to a senior executive. The Green Accelerator Programme, rolled out on Monday with backing from HSBC, Asian Infrastructure Development Bank, Silk Road Fund and others, will channel private capital into feasibility…
HSBC has partnered with various entities to launch the Green Accelerator Programme, a non-profit platform aimed at driving green transition capital to emerging markets. The initiative, which began on Monday, seeks to channel private capital into feasibility studies and due diligence for companies and governments in emerging markets adopting green technology.
HSBC's chief sustainability officer, Julian Wentzel, attributes the surge in demand for green financing to geopolitical disruptions, such as the recent conflict between the US and Iran, which has driven up oil prices and prompted companies to seek more stable and cheaper energy sources. With Hong Kong serving as a critical capital hub and a conduit for renewable technology investment, the city is well-positioned to facilitate this transition, with HSBC already offering US$102 billion in sustainable finance and investment since 2025, on track to meet its target of US$750 billion to US$1 trillion by 2030.
Brief written by urgent.news from SCMP Tech's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
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