A group of HSBC's HNW clients recently spent a week in the Borneo rainforest in Malaysia as part of the bank's Sustainability Expedition programme to promote climate change awareness.
The goal of the trip was to educate future business leaders on the importance of sustainable business practices beyond impact investing.
"It's not about doing good or just doing the right thing, it's actually beyond that. It has to be the new normal because otherwise everything we talk about, business and commercially relevant actions, will be completely irrelevant," Roger Goetz, managing director, head of advisory and sales management Asia, told Asia Tatler.
It’s not about doing good or just doing the right thing, it’s actually beyond that"
The bank invited HSBC Jade clients from mainland China, Hong Kong and Singapore to engage in a myriad of activities including habitat assessment; the gathering of evidence on plant and animal life; and the planting of 80 Dipterocarp trees, a species prevalent in Borneo. In addition, the bank educated clients on sustainable investing and its role in transitioning to a low carbon economy.
"Five days in Danum Valley allow you to be really immersed in the whole ecosystem, the greenery, taking in what is living on earth, and how we should save our planet," said one Singapore client, according to the bank's release.
HSBC launched an internal Global Sustainability Leadership Programme in 2010, off the back of delivering hugely successful experiential-based philanthropic programmes designed to engage junior level staff. It is now inviting clients to come along.
"High net worth individuals in Asia are showing increased interest in sustainable living and incorporating ESG factors when investing," saidToby Chan, group head of Jade and Top Tier, HSBC retail banking and wealth management.
"We created the Sustainability Expedition for Jade to improve our clients' knowledge of climate change and deepen understanding of sustainability through hands-on scientific research and expert conversations."
HSBC as a bank has contributed over 21,000 hours of hands-on research time by staff to climate change and science-based research.