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HSBC Receives 2005 Green Power Leadership Award for Renewable Energy Commitments

Posted on: Thursday, 27 October 2005, 15:01 CDT

HSBC North America today announced it has been awarded a 2005 Green Power Leadership Award for its commitment to purchasing renewable energy. Sponsored by the U.S. Environmental Protection Agency (EPA), the U.S. Department of Energy and the Center for Resource Solutions, the award recognizes organizations whose actions help advance the development of green power*. To see the full list of 2005 Green Power Leadership Award winners go to: http://www.epa.gov/greenpower/winners/index.htm

In making their decision a panel of eight judges reviewed nearly 70 nominations based on criteria ranging from the amount of renewable electricity purchased or generated to each organization's strategy for incorporating green power into its operations and communications.

"We applaud HSBC for its environmental leadership," said Kurt Johnson, director of EPA's Green Power Partnership. "HSBC is providing an outstanding example for others to follow."

HSBC Bank USA President and CEO Martin Glynn said: "I'm absolutely delighted that the bank has been recognized in this way. HSBC is constantly looking at ways to increase energy efficiency and reduce its output of environmentally damaging waste."

On October 6, 2005, HSBC became the first major bank in the world to be "carbon neutral" by reducing its carbon dioxide (CO2) emissions to zero through reducing energy use, buying green electricity and then offsetting the remaining CO2 emissions by investing in carbon projects. Earlier this year HSBC was ranked by the Carbon Disclosure Project among the top 60 companies globally in terms of climate leadership.

Notes to Editors

*What is Green Power?

Green power is electricity generated from environmentally preferable renewable energy sources such as solar, wind, geothermal, biogas and low-impact hydro and biomass resources. These renewable energy sources are cleaner than traditional sources of electricity that generate carbon dioxide (CO2), a greenhouse gas linked to global warming, and other air pollutants. Green power purchases support the development of new renewable energy capacity and projects by increasing the overall demand for power from renewable resources.

Additional information about the Green Power Partnership and the Green Power Leadership Awards is available at http://www.epa.gov/greenpower/.

About HSBC North America

HSBC North America comprises all of HSBC's U.S. and Canadian businesses, including the former Household International businesses. The company's businesses serve nearly 60 million customers in five key areas: personal financial services, consumer finance, commercial banking, private banking and corporate investment banking and markets. Financial products and services are offered under the HSBC, HFC and Beneficial brands. For more information, visit: www.hsbcusa.com.

About the U.S. EPA's Green Power Partnership

The Green Power Partnership is an EPA voluntary program that standardizes green power procurement as part of best practice environmental management. Partners in the program switch to green power for a portion of their electricity needs in return for EPA technical assistance and public recognition. The Green Power Partnership currently includes more than 600 Partners including Fortune 500 companies, government agencies, trade associations and universities -- collectively purchasing over 3 billion kilowatt hours of green power annually. Additional information is available at http://www.epa.gov/greenpower.

Source: Business Wire

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