The PeninsulaDoha: HSBC has announced the formation of a dedicated Sustainable and Transition Finance Team in the Middle East, North Africa and Turkey (MENAT). The MENAT Sustainable and Transition Finance Team will work closely with HSBC’s recently launched global ESG Solutions Team to bring the bank’s extensive global experience and expertise in ESG finance to customers in MENAT. Gareth Thomas, HSBC’s Head of Global Banking in MENAT and Co-Lead of the Sustainable and Transition Finance Team, said: “Our customers in MENAT are interested in an increasing range of sustainable finance options and the creation of our new Sustainable and Transition Finance Team is designed to specifically respond to that demand. Daniel Howlett, HSBC’s Head of Commercial Banking and Co-Lead of the Sustainable and Transition Finance Team, said: “The Team will play a leading role in helping HSBC achieve its recently announced ambition to become a net-zero bank. In 2020, HSBC saw a six-fold increase in its sustainable and transition finance activity in MENAT over 2019, with the bank bringing a number of innovative deals to market.

Source: The North Africa Journal January 24, 2021 05:26 UTC