Wind Energy Purchase Aims for Carbon Neutral Business

HSBC Bank USA made its own Earth Day commitment this year by purchasing enough green power to meet 30 percent of its needs for electricity through wind power.

HSBC decided to work toward a carbon-neutral environmental footprint for its company in December 2004, and has purchased 45,454 MWh of renewable energy certificates (RECs) worth of wind energy. The bank’s purchase should prevent the release of over 36,000,000 pounds of carbon dioxide, and has the environmental impact of planting over 4,500 acres of forest or removing nearly 3,500 average passenger vehicles from U.S. roadways each year. “HSBC is helping to build a sustainable planet and a sustainable economy,” said Martin Glynn, the president and CEO of HSBC Bank. “We want to be the first bank in the world to have zero greenhouse gas emissions and a cornerstone of this effort is powering our branches and offices with 30 percent clean, natural wind power.” Green-e certified RECs were purchased from 3 Phases Energy Services, and the actual power will come from new wind projects in California and Minnesota. HSBC’s investment should contribute to further the development of new wind energy generation necessary for a clean energy future. The Bank has also joined the Environmental Protection Agency’s Green Power Partnership, a voluntary program working to standardize green power procurement as part of best practice in corporate environmental management.
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