Friday, June 30, 2006

Europe's largest bank makes green push

HSBC Holdings, Europe's largest bank, is embarking on a green campaign that will encourage recycling within the company, and promote green investment.

HSBC will invest some US$182 million in making buildings more environmentally friendly and in teaching its staff to conserve resources.

However, HSBC insists the new renovations are aimed at producing higher profits in the end.

"Our commitment to sustainability is not some philanthropic agent or incompatible with our strategy of growing profits. On the contrary, it's intrinsic to it," Stephen Green, HSBC chairman told reporters.

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