The new clean green brigade

HSBC, the 2006 winner of the FT's sustainable banking awards, has committed a further US$90 million over five years to reduce the bank’s impact on the environment through a series of initiatives, including the introduction of renewable energy technology, water and waste reduction programmes and employee engagement.

The impact of HSBC’s environmental policy can be readily seen at first direct, the firm’s direct banking subsidiary in the UK. Already carbon neutral as a result of 100 per cent of its electricity being purchased from renewable ‘green’ sources, first direct moved in April to install solar photovoltaic panels at its offices in Leeds.

The panels provide sufficient energy to support the needs of its onsite nursery - and an instructive lesson for children attending the nursery on the importance of environmental issues. Part of the installation includes a reception display showing how much energy the panels have produced and the equivalent carbon dioxide saving.

First direct is also showing a cleen pair of heels to its peers on the Finextra stats page.  In April, we ran a story on the bank's plans to install automated computer shutdown software in an effort to reduce its carbon emissions. It quickly became our most popular news item of all time, clocking up 35,000 page views in the past two months alone.