HSBC announced that it is launching a new ESG-focused unit, that will focus the bank’s full range of capabilities and expertise in providing clients with ESG-related advice, strategies and financing ideas. According to HSBC, the bank is introducing the unit now unit to help clients around the world rebuild and transition their businesses and economies in a more sustainable way post-COVID-19.

Daniel Klier, Global Head of Sustainable Finance at HSBC, said:

“We aim to be the leading bank for the transition to a net-zero economy, helping to build a future in which economic growth and sustainability are well aligned. These changes will allow us to rapidly grow our role in providing ESG strategies for clients so we can accelerate their ability to contribute to a low carbon future.”

The ESG Solutions unit will be led by Jonathan Drew, based in Hong Kong, working with Farnam Bidgoli in London and Julie Bennett in New York. According to HSBC, the team will be supported by several hundred colleagues who have already engaged with clients on assisting their transition needs. The network will continue to expand to meet the growing financing requirements of clients addressing the challenge of evolving their businesses towards a net zero-carbon world.

HSBC announced the formation of the ESG unit as part of its new Strategic Solutions Group, which will also comprise of a Corporate Finance Solutions unit and one a Financial Institutions & Capital Solutions unit. The Strategic Solutions Group will be part of HSBC’s Capital Financing & Investment Banking Coverage division, and is intended to link with HSBC’s sector and product bankers to provide strategic advice and financing ideas tailored to specific industries and market sectors.

Greg Guyett, Co-CEO of Global Banking and Markets at HSBC, said:

“Post-COVID, we have a unique opportunity to rebuild our economies and companies so they are more financially-resilient and can transition to more sustainable business models. This new group will work with all our bankers across sector, product and geography to assess client needs and deliver actionable solutions which are in the best interests of our clients.”

The Strategic Solutions Group, led globally by Nik Dhanani, who previously headed the global Financing Solutions Group. The group will comprise around 35 bankers spread across Asia Pacific, Europe and the Americas. Dhanani will also lead the FIG & Capital Solutions vertical and oversee the day-to-day activities of the group in EMEA.

Alexi Chan, Global Co-Head of Capital Markets at HSBC, said:

 “Our new Strategic Solutions Group is going to be a powerful resource for clients looking to deliver resilient growth and build strong balance sheets, allowing them to withstand future shocks and make the changes needed to mitigate climate change.”