In the first quarter, the HSBC Greater Bay Area ESG regional index grew by 6%, with new quality productivity leading the low-carbon transformation.

HSBC (00005) and CECI Haoxin released the "HSBC Greater Bay ESG Index" first quarter update report for 2024. The report points out that the overall ESG (Environmental, Social, and Governance) performance in the region continues to improve, with the average values of the Greater Bay ESG Regional Index and Industry Sub-Index increasing by 6% and 20% year-on-year in the first quarter, reaching 124.42 and 186.05 respectively. The report shows that under the active promotion of the Mainland government's "new productive forces" and the leadership of growth driven by technological innovation, emerging industries in the Greater Bay Area are thriving. At the same time, the acceleration of the economic transformation in the Greater Bay Area has further prompted local companies to accelerate their pace in promoting low-carbon emission reductions. Among the Greater Bay Area companies invited to fill out the CDP Global Environmental Information Research Center's climate survey questionnaire, the number of companies achieving A or A- high ratings has doubled compared to the previous year. In addition, in the first quarter of this year, 28 local companies in the region have set new emission reduction targets or commitments through the Science-Based Targets initiative (SBTi), a 33% increase from the fourth quarter of 2023. Chen Qingyao, General Manager of HSBC Greater Bay Area Office, stated that as a national innovation center, the Greater Bay Area's development of emerging industries such as electric vehicles, new energy, and smart robots is accelerating under continuous policy support. In the first two months of this year, the production of new energy vehicles in Guangzhou increased by 30% year-on-year, and the production of charging piles in Shenzhen also increased by nearly 50% year-on-year. The development of "new productive forces" driven by innovation is leading the Greater Bay Area towards steadily achieving the "dual-carbon" goals. Liao Yuan, Executive Director and General Manager of China Energy Conservation and Environmental Protection (Hong Kong) Investment Limited, stated that communication service companies in the Greater Bay Area are working to create a comprehensive carbon emission management system covering industrial manufacturing and infrastructure operation. While promoting emission reductions, they are using their technological advantages to help other industries achieve energy conservation and emission reductions through innovative products and services.