Hsbc Critical Analysis Csr

2265 WordsDec 14, 201210 Pages
Introduction Hongkong and Shanghai Banking Corporation Holdings PLC (HSBC) is ranked 46th on the Fortune 500 company listing in 2011 (Fortune 500 2011). With an international presence of offices and establishments in leading financial cities (Scott Mark 2008) such as New York, London, Zurich, Sydney and Tokyo, HSBC provides an array of financial services to approximately 89 Million customers. As one of the largest banking and financial service organizations in the world, HSBC values their commitment to all their stakeholders (HSBC 2012). HSBC believes that Corporate Social Responsibility (CSR) is a dictum that their organization and all its constituents live by (“CSR is engrained in HSBC’s corporate DNA” 2006). Therefore, in addition…show more content…
During the 5-year course of the project, through HSBC’s support together with their partners, were able to engage and complete a list of environmental projects. One example would be Project Living Yangtze. Together with WWF, Project Living Yangtze (Living Yangtze 2012), located in China helped 120,000 fish farmers to increase their income by approximately 30% as well as rejuvenate the lush water foliage (“HSBC Climate Partnership” 2011) during Phase 1. Phase 2 saw the completion of the connection of 50 lakes to the Yangtze River that has since benefitted about 20 Million inhabitants near the lake. In another CSR effort, Project Climate Champions saw 2,233 employees from HSBC at one of five regional climate centers where these employees had to work together with Earthwatch scientists to understand how climate change affects natural resources (“HSBC Climate Partnership” 2011). Although HSBC’s Climate Partnership efforts have seen significant initial success, with the project already at a close, the sustainability of this partnership is unknown. With HSBC pulling out after their 5-year project has wrapped up, there could be issues with enforcement and compliance to the processes put in place during the partnership. In

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