HSBC has launched a new ‘Sustainability Tracker’, as part of the Bank’s commitment to help businesses across Jersey, Guernsey and the Isle of Man as they get started, or are already on, their sustainability journeys.

The free-to-use online tool enables businesses to assess their current sustainability status and to prioritise their next steps through a tailored self-assessment process, that will help businesses across the islands to understand how sustainable they are today.

The launch of the tool comes as more and more small and medium size enterprises (SMEs) make efforts to adjust their business models towards more sustainable practices. However, access to dedicated tools to facilitate climate action can be a barrier.

Businesses are also faced with increasing pressure from stakeholders to integrate ESG reporting into their strategies and business models. 89% of investors say it is important or vitally important for companies they invest in to be preparing for the effects of climate change1.

Aline Ayotte, Head of Commercial Banking, HSBC Channel Islands and Isle of Man, said:

“Businesses across the Islands are recognising the opportunity that comes from being more sustainable and are seeking to demonstrate their ESG credentials to customers, investors, staff, and other stakeholders. This is particularly the case against the backdrop of all three islands having net zero commitments. Our aim is to help clients and businesses to achieve their sustainability targets, and the launch of the HSBC Sustainability Tracker is one way we are able to do this.”

The Sustainability Tracker builds on HSBC’s ongoing commitment to supporting businesses on their ESG journeys, and complements its existing sustainable solutions, including its Green and Sustainable Loan offering and Green, Social and Sustainable Bonds.

The HSBC Sustainability Tracker is free for SMEs to use and can be accessed here.

1 HSBC Sustainable Finance and Investment Survey, 2021 based on a survey of 2,000 capital market issuers and institutional investors