Corporate Social Responsibility of Hongkong Shanghai Banking Corporation Essay Sample
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Corporate Social Responsibility of Hongkong Shanghai Banking Corporation Essay Sample
Network: HSBC’s international network comprises around 8,000 offices in 88 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. Shareholders: With listings on the London, Hong Kong, New York, Paris and Bermuda stock exchanges, shares in HSBC Holdings plc are held by around 220,000 shareholders in 119 countries and territories. The shares are traded on the New York Stock Exchange in the form of American Depositary Receipts.
Activities: Through an international network linked by advanced technology, including a rapidly growing e-commerce capability, HSBC provides a comprehensive range of financial services: personal financial services; commercial banking; corporate, investment banking and markets; private banking; and other activities. Group Values and Business Principles The HSBC corporate character defines the values and principles inherent in all our everyday dealings. Group History The HSBC Group has an international pedigree which is unique.
Many of its principal companies opened for business over a century ago and they have a history which is rich in variety and achievement. The HSBC Group is named after its founding member, The Hongkong and Shanghai Banking Corporation Limited, which was established in 1865 to finance the growing trade between China and Europe. Corporate Social Responsibility For HSBC, Corporate Social Responsibility (CSR) means managing our business responsibly and sensitively for long-term success. As part of our CSR, HSBC strives to be a catalyst for progress in the communities we serve.
Focusing on education and the environment, HSBC builds strong, enduring relationships with a wide range of organizations, providing the resources and tools to sustain long-term results. HSBC’s 2008 U. S. social investment was $26 million and we were honored to have been recognized by more than 15 of our partner organizations for our philanthropy. The Community & Philanthropic Services department manages HSBC’s social investment primarily through stewarding HSBC’s contributions and leading employee engagement initiatives. Education
HSBC invests in educational programs that are sustainable and add value to our communities through our Community & Philanthropic Services department and through our Consumer Affairs department. Philanthropic Giving HSBC’s Community & Philanthropic Services department focuses on projects and organizations that educate students aged 3-25, particularly those from disadvantaged backgrounds or for schools in economically deprived areas. HSBC provides Corporate Contributions that give young people hope, a positive attitude, opportunities for success, and a better future.
HSBC is proud of our signature partnership with Junior Achievement, the world’s largest nonprofit organization dedicated to educating young people to value free enterprise, business and economics. Financial Education HSBC’s Consumer Affairs department offers and supports financial education for youth and adults, including HSBC’s YourMoneyCounts® financial education platform and YourMoneyCounts. com web site, to help people become more confident in managing their money and making more informed financial decisions.
The cornerstone of the platform is the web site, YourMoneyCounts. com, which has welcomed more than 3. 5 million visitors since 2003. The easy-to-use web site has a wealth of information; interactive calculators and resources to help you manage your money learn about saving, spending and borrowing and are available in both English and Spanish. Adult Financial Literacy Workshops HSBC partners with the Center for Neighborhood Enterprise (CNE) to provide Adult Financial Literacy Workshops, delivering program funding, workshop content and curriculum and employee workshop leaders.
Since the program’s launch in 2003, HSBC has provided more than $5 million in grants and over $2 million in classroom materials. The curriculum is designed to assist consumers in the areas of credit, homeownership and managing money. YourFutureCounts™ HSBC has extended its partnership with the Society for Financial Education and Professional Development (SFEPD) through July 2010 with a renewed grant of $500,000 for the YourFutureCounts™ program, a series of personal money management and credit management seminars to juniors and seniors at Historically Black Colleges and Universities (HBCUs).
In 2008, 14,413 students at 71 HBCUs participated in the seminars, with a total of 48,792 students receiving this important training since the program began in 2005. Junior Achievement HSBC is proud to partner with Junior Achievement (JA), the largest nonprofit youth economic education organization in the world. As a financial services company, partnering with JA provides our employees an opportunity to build professional skills, while supporting the future economic success of our youth.
JA programs educate and inspire young people to value free enterprise, understand business and economics, and be better prepared to enter the workforce. The programs are presented at a wide variety of schools throughout the country, and children from all economic backgrounds have the opportunity to participate. Volunteer Support In 2008, more than 2,500 employees spent approximately 37,000 hours teaching JA programs in 39 states, directly affecting nearly 50,000 students. Since 2005, HSBC has been the largest provider of volunteers to JA in the U. S.
Our employee volunteers teach students at elementary and secondary schools in their communities. They add their personal experience and knowledge about working in the financial services industry to the classroom. Serving as role models, our employees have a direct impact on children in communities where they live and work. This reinforces the company’s commitment to help build tomorrow’s leaders through the education and support of young people. Junior Achievement Bowl-A-Thon Our company also holds the annual “HSBC/JA Bowl-a-thon” in support of JA’s economic education programs.
In 2009, some 9,000 bowlers participated in the HSBC/JA bowl-a-thon. Nearly $700,000 was raised by the event for nearly 20 JA offices throughout the country. More than 40,000 students participated in JA programs as a result of HSBC’s support of JA through this event, unsurpassed among U. S. corporations. Environment Environmental Giving On May 30, 2007, HSBC announced a five-year, $100 million program to help reduce the impacts of climate change on the world’s rivers, forests and cities.
This ground-breaking initiative partners HSBC with four world-class environmental organizations—Earthwatch Institute, World Wildlife Fund, Smithsonian Tropical Research Institute and The Climate Group—to inspire global action by individuals, businesses and governments worldwide. For each of our partners, HSBC’s contribution represents the largest ever single corporate donation. Climate change is believed to be the most significant environmental challenge of this century and will have a major impact on our employees, customers, shareholders and communities.
The HSBC Climate Partnership seeks to: * protect rivers and the livelihoods of people who rely on them * research the long-term effects of climate change on the world’s forests * create cleaner and greener cities One of HSBC – North America’s primary objectives is to support environmental initiatives that focus on climate change, freshwater (e. g. rivers), and terrestrial biodiversity (plants and animals). We do this through our support of organizations that focus on environmental policy development, public awareness-building, education of teachers or other adults (i. . over 25), scientific research and projects to improve the sustainability or resilience of eco-systems.
HSBC Bank USA, N. A. extends grant support to nonprofit organizations’ environmental programs in Bank communities. Recent projects supported by the Bank include: * New York Cares-HSBC has title sponsorship of New York Cares’ “Hands on New York Day” where 45,000 volunteers help revitalize parks, community gardens and other public spaces. New York Cares meets pressing community needs by mobilizing caring New Yorkers in volunteer service.
Environmental Performance HSBC has been a climate-neutral company globally since November 2005. Through the use of green technologies and emission-offset trading, HSBC counteracts all CO2 emissions generated by its building operations and corporate travel. In 2008, 90% of operations in North America will be offset by investments in Renewable Energy Certificates from wind power alone. The United States EPA has recognized our commitment to renewable energy and combating Climate Change by presenting HSBC – North America with the Green Power Partner-of-the-Year award in 2005 and 2006, and the Climate Protection Award in 2007.
HSBC also invests in building green. In 2006, HSBC – North America was awarded LEED Gold Certification by the US Green Building Council for a retail eco-branch project in Upstate New York. Designed with rainwater harvesting, onsite solar energy-generation and geo-thermal heating & cooling, it serves as a model to evaluate standards for future building projects. In 2008, HSBC completed construction of its new North America HQ and received LEED Gold certification.
Additionally, HSBC cares for its employees and customers by utilizing a green cleaning standard in its buildings that focuses on improving indoor air quality, recycling and minimizing the use of raw materials and toxic products. Environmental Reporting HSBC – North America conducts a thorough analysis of its environmental impact performance in both the United States and Canada. Environmental metrics are fed into a global environmental reporting system that collects and analyzes data on the consumption of energy, water, production of waste, and CO2.
By knowing our environmental footprint, we are able to set goals to reduce it. Contributions HSBC embraces the principle that corporate responsibility is vital to the success of a company. Our philanthropic strategy is focused primarily on two critical issues—education and the environment. In 2008, HSBC’s social investment totaled $26 million in the United States. Eligible nonprofits applying to HSBC Bank USA, N. A. should complete the HSBC Bank USA, N. A. contribution application. For grant requests related to other HSBC – North America entities, we will only consider applications from current grantees in 2009.
Corporate Contributions Focusing on youth education and the environment, HSBC builds strong, enduring relationships with a wide range of organizations, providing resources and tools to sustain long-term results. Education supported by HSBC shall be aimed at children and young people aged 3-25, with the following being core focus areas: * Programs for disadvantaged children or for schools in economically deprived areas * Education aimed at raising levels of financial and business literacy in the community, especially among young people * Environmental education
Environmental programs supported may include environmental policy development, public awareness-building, education of teachers or other adults (i. e. over 25), scientific research and projects to improve the sustainability or resilience of eco-systems. Where possible, HSBC concentrates environmental support on projects with the following themes: * Climate change * Freshwater (e. g. rivers) * Terrestrial biodiversity (plants and animals) All proposals must be received by November 1 of each year and those that meet the outlined requirements will be reviewed.
Only organizations receiving funding will receive a response in writing. Proposals will not be returned. A letter will outline the grant terms, along with any requirements for evaluation and reporting. By applying for a grant through HSBC, you are certifying that your organization shall comply with all applicable U. S. federal and state laws. HSBC reserves the right to target its resources to certain geographic areas, program categories and projects which, in our opinion best address social or community needs and satisfy the objectives of the company and its many stakeholders.
Community HSBC supports the communities in which we operate through the engagement of our employees and financial contributions to support their efforts. In 2008, HSBC’s U. S. employees contributed more than 117,000 volunteer hours to non-profit organizations. HSBC encourages our employees to share their skills and realize their full potential through our community involvement efforts. HSBC’s Earned Income Tax Credit program provided $597,500 in grants to 20 groups that will operate free tax preparation clinics during the 2008 ax season.
In 2007, the clinics assisted 131,924 families. This effort provides Americans in need an opportunity to take advantage of the underutilized Earned Income Tax Credit (EITC) federal benefit program. HSBC Bank USA, N. A. helps revitalize our communities through partnerships with community groups and is committed to meeting and exceeding our CRA obligations. We do this through a strong Community Reinvestment program throughout our footprint.