HSBC launches new climate-focused infrastructure finance unit
Former UK politician Danny Alexander to lead unit as CEO
Alexander joins from Asian Infrastructure Investment Bank
Unit to see bank's return to project finance advisory
Adds AIIB comment in paragraph 11
By Simon Jessop and Tommy Reggiori Wilkes
LONDON, July 16 (Reuters) -Britain's HSBC HSBA.L has set up a new unit to tap deals in infrastructure finance and project finance linked to the world's shift to a lower-carbon economy, and hired a former UK politician to lead it, a senior banking executive told Reuters.
HSBC Infrastructure Finance (HIF) will target "a meaningful share" of both in key markets, and incorporate parts of the bank's Global Banking Real Asset Finance team, which includes infrastructure finance, export finance and portfolio management, a memo sent to staff by Greg Guyett, HSBC's CEO of Global Banking & Markets, showed.
The new unit, which will be headed by former UK government minister Danny Alexander, marks a return to 'Project Finance Advisory' for HSBC, which only has a limited capability currently. HSBC hopes HIF will help grow the bank's debt origination and distribution businesses, including by building new public and private sector partnerships.
The move comes as HSBC and other banks increasingly look to align their operations with a corporate commitment to reach net-zero emissions by mid-century, forcing a gradual tightening of lending to high-polluting sectors.
"HSBC has a leading presence in the regions where infrastructure financing and project finance advisory capabilities are critical to enabling a just transition to a low carbon economy," Guyett told Reuters.
The global shift to a cleaner economy will see trillions of dollars spent on building renewable energy and other assets to help cut carbon emissions, as well as adapting existing infrastructure to withstand the impacts of climate change.
Analysis by the OECD, World Bank and United Nations suggests annual investment of $6.9 trillion will be needed by 2030 to ensure infrastructure investment is on track to meet the world's climate and sustainable development goals.
The new unit will work closely with the bank's CMB Infrastructure Finance team, and also oversee its Pentagreen Capital joint venture, a sustainable infrastructure debt unit launched with Singapore investment firm Temasek.
Alexander, a government minister until 2015 and current Asian Infrastructure Investment Bank (AIIB)vice president for policy and strategy, will join HSBC in November and be based in London. He will sit on the Global Banking and Markets executive committee, reporting to Guyett. Until his arrival, HIF will be co-led by Alexi Chan and James Dynon.
Guyett said Alexander's appointment would help accelerate efforts to partner with governments, multilateral development banks and companies, "including supporting the UK government's new initiatives".
AIIB President Jin Liqun said in a statement on Tuesday that Alexander, who joined the bank in 2016, had been "instrumental" in expanding the group's membership and helping shape its strategic direction.
Reporting by Simon Jessop and Tommy Reggiori Wilkes; editing by Susan Fenton
Ativos relacionados
Últimas notícias
Isenção de Responsabilidade: As entidades do XM Group proporcionam serviço de apenas-execução e acesso à nossa plataforma online de negociação, permitindo a visualização e/ou uso do conteúdo disponível no website ou através deste, o que não se destina a alterar ou a expandir o supracitado. Tal acesso e uso estão sempre sujeitos a: (i) Termos e Condições; (ii) Avisos de Risco; e (iii) Termos de Responsabilidade. Este, é desta forma, fornecido como informação generalizada. Particularmente, por favor esteja ciente que os conteúdos da nossa plataforma online de negociação não constituem solicitação ou oferta para iniciar qualquer transação nos mercados financeiros. Negociar em qualquer mercado financeiro envolve um nível de risco significativo de perda do capital.
Todo o material publicado na nossa plataforma de negociação online tem apenas objetivos educacionais/informativos e não contém — e não deve ser considerado conter — conselhos e recomendações financeiras, de negociação ou fiscalidade de investimentos, registo de preços de negociação, oferta e solicitação de transação em qualquer instrumento financeiro ou promoção financeira não solicitada direcionadas a si.
Qual conteúdo obtido por uma terceira parte, assim como o conteúdo preparado pela XM, tais como, opiniões, pesquisa, análises, preços, outra informação ou links para websites de terceiras partes contidos neste website são prestados "no estado em que se encontram", como um comentário de mercado generalizado e não constitui conselho de investimento. Na medida em que qualquer conteúdo é construído como pesquisa de investimento, deve considerar e aceitar que este não tem como objetivo e nem foi preparado de acordo com os requisitos legais concebidos para promover a independência da pesquisa de investimento, desta forma, deve ser considerado material de marketing sob as leis e regulações relevantes. Por favor, certifique-se que leu e compreendeu a nossa Notificação sobre Pesquisa de Investimento não-independente e o Aviso de Risco, relativos à informação supracitada, os quais podem ser acedidos aqui.
