Responsible Investment Review 2023
The Responsible Investment Review highlights the strategic vision, ambition, and determination with which we approach sustainable investing on behalf of our clients. We have been working towards our sustainability ambitions and have made great progress in the past few years.
Looking back over 2023, there are several standout achievements.
The figures displayed in the document relate to the past and past figures should not be seen as an indication of future returns.
Source : HSBC Asset Management as at December 2023
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Learn more about our latest RI initiatives
1. HSBC's ESG and Sustainable Investing strategies include impact funds with an ESG or Sustainable objective, thematic funds that seek to invest in ESG or sustainable trends, and strategies that seek to mitigate ESG risks by investing assets with higher ESG performance and/or exclusions of those that are lower ESG performing. Considerations across strategies can include but are not limited to climate/net-zero and/or UN Sustainable Development Goals. For the avoidance of doubt, these assets invested pursuant to the ESG and Sustainable Investing strategies do not necessarily qualify as "sustainable investments" as defined by SFDR or other relevant regulations. The HSBC ESG and Sustainable Investing Framework is an HSBC internal classification framework used to establish ESG and sustainable investing standards and promote consistency across asset classes and business lines where relevant, and should not be relied on to assess the sustainability characteristics of any given product.
2. Out of 97 asset managers assessed by Morningstar, only 25 earned a Morningstar ESG Commitment Level of Advanced in 2023.
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3. Sources: UNPRI, HSBC Asset Management as of Dec 2023. For illustrative purposes only. PRI signatories are required to report publicly on their responsible investment activities each year, based on which an Assessment Report is issued. To read our reports, please visit: https://ctp.unpri.org/dataportalv2/transparency. For more information on the assessment methodology, please visit PRI’s official website: https://www.unpri.org/reporting-and-assessment/how-investors-are-assessed-on-their-reporting/3066.article
4. The voting related data has been extract from our records on ISS’s website and represents all activity logged as of 31 December 2023. Please note that voting related data is estimated and not verified. Actual figures may vary and you should not place reliance on this data.
5. More information can be found on Citywire’s website
Today, we and many of our customers contribute to greenhouse gas emissions. We have a strategy to reduce our own emissions and to develop solutions to help our clients invest sustainably.
The information presented concerns the activity of HSBC Asset Management globally. We draw your attention on the fact that the numbers presented and the commitments listed are not necessarily a direct reflection of those of HSBC Asset Management in the various jurisdictions.
HSBC Asset Management is a signatory to the Net Zero Asset Managers initiative, with a 2050 net zero objective across all assets. It has set an interim target of reducing scope 1 and 2 carbon emissions intensity by 58 per cent by 2030 for 38 per cent of HSBC Asset Management’s assets under management. These assets under management in scope for the target consist of listed equity and corporate fixed income managed within its major investment hubs in UK, Hong Kong SAR, France, Germany and US, which amounted to USD193.9 billion at 31/12/2019. Implementation of the net zero targets remains subject to consultation with stakeholders including investors and fund boards on whose behalf we manage the assets. The 58 per cent target is based on assumptions for financial markets and other data, including the IEA Net Zero emissions by 2050 scenario and its underlying activity growth assumptions. Carbon emissions intensity measured as tCO2e/USDMillion invested, where emissions are scaled by enterprise values including cash. For more details, please refer to our webpage: https://www.netzeroassetmanagers.org/signatories/hsbc-asset-management/