Friday 29 March 2024

HSBC investing €515,000 in the environment

HSBC Malta today inaugurated the installation of 483 Photovoltaic (PV) panels and the commissioning of seven electric vehicles (EV) as part of its sustainability drive to positively impact its business and the wider community.

The project was implemented following an application by HSBC Malta to the HSBC Group’s ‘eCO2 Efficiency Fund’, which attracted €515,000.

Entitled ‘Simply ELECTRIC’, the initiative included the purchase of seven electric vehicles and the installation of six charging points at the Bank’s operations centre in Qormi. A PV car port, apart from generating green energy provides shading for vehicles, was also installed. The electric vehicles replaced seven internal combustion engine (ICE) vehicles, further contributing to the reduction of harmful emissions and noise pollution from Malta’s roads.

The PV panels, generating an estimated 190,000 kWh of green energy from the sun per year were installed over 10 of the Bank’s offices. These PV panels offset the power requirements of the seven electric vehicles – making the cars truly powered by the sun. Moreover, the panels meet the electrical demands of all of the Bank’s 37 offsite ATMs.

Following this installation, the Bank’s emissions have been reduced by an estimated 148 tonnes of CO2 per annum. The electric vehicles furthermore contribute to a reduction in emissions by 18 tonnes of CO2 every year.

HSBC eco-cars IMG2 HSBC eco-cars IMG3

“HSBC has always been on the forefront in terms of sustainability, leading to a reduction in carbon footprint by more than 25% in the past seven years,” said HSBC Malta CEO Andrew Beane.
Commending HSBC Malta on this initiative, Minister for Transport and Infrastructure Joe Mizzi, who uses an electric car for official government duties, said that the technology presented today in these cars, is ideal for Malta. “The electric cars are very energy efficient and silent. In addition, Maltese users will not have the fear that their vehicle will stop short of charging, as charging can be safely done at home, at the place of work, and by using the public car charging network.”

Minister Mizzi reiterated government’s commitment towards electro-mobility and said that next year, the government will extend the grants on the purchase of electric vehicles by private individuals, registered NGO’s and private companies.
HSBC’s latest environmental initiative adds to numerous other actions and substantial investments in the past years. These initiatives have earned HSBC Malta a number of recognitions, including an HSBC Group’s ‘Platinum Award for Sustainable Excellence’. Further, HSBC Malta recently won the inaugural Greening the Islands award for its €500,000 Water Programme – Catch the Drop campaign. Targeting 50,000 students, the campaign is the largest ever national environmental and educational campaign of its kind in Malta with an aim to forging a blueprint for progress on sustainability of water.
Cont. on pg 2/…

Monday 16.11.2015
HSBC investing €515,000 in the environment / pg 2
Photocaption IMG1: An image of PV panels at the HSBC Zabbar branch

Photocaption IMG2: HSBC Malta CEO Andrew Beane: “HSBC Malta has reduced its carbon footprint by 25% in the past seven years”

Photocaption IMG3: Minister Joe Mizzi and HSBC Malta CEO Andrew Beane getting ready to inspect some of the carbon-neutral features of the electric vehicles

Ends
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