The fund will operate from 2025 to 2030 and will focus on financing early- and mid-stage companies developing solutions to reduce their carbon footprint and adapt to climate change.
The fund’s key investment areas include:
Agritech to increase agricultural sustainability,
Energy storage and management technologies,
Carbon credit trading and verification systems,
Green logistics and sustainable transport solutions.
HSBC’s head of sustainability stressed that the launch of the fund reflects the bank’s growing commitment to promoting global decarbonisation and supporting the UK’s technology innovation ecosystem.
“We believe that technological innovation is the key to achieving climate goals, and our fund is designed to help startups that can transform industries and create new jobs,” said an HSBC representative.
The fund project also received support from the UK government and several private investors interested in sustainable development and the green economy.
Source: FT