HSBC.

(Making good business sense)

What did HSBC do and why?

What did HSBC do

At an investor meeting in March 2004, HSBC revealed "Managing for Growth," the
group's five-year long-term growth strategy. It was declared that building the HSBC
brand and investing in people will be important growth levers.

why?
HSBC thought that since they had direct contact with people, businesses, and
communities all across the world, multinational corporations had a stronger need to
support social, ethical, and environmental concerns. Sir John Bond, Chairman of the
HSBC Group, outlined the group's current goals in this report. 

The group's top priority in this dynamic environment was to be a successful business
that fulfilled the interests of all stakeholders in the short term and, more crucially, in the
long term future as long as the globe continued to confront numerous problems. 

The group thus held that the corporation must first be a prosperous economic concern
in order to fulfill its obligations to the social community and environment. 

The group thus had the view that spending their time, money, and resources in CSR
activities would result in a positive brand image for them and serve as a catalyst for
long-term, sustainable earnings development.

What challenges did they encounter?

Some of the difficulties the organization ran across were,

 outsourcing corporate processes ( business process outsourcing)

 funding contentious initiatives. (financing controversial projects )

How did they live the three Ps of CSR?

They did this by Investing in people, the environment, and education. Also known as
people, profit and planet.
HSBC understood that by assuring the flow of social and economic advantages via their
company, a prosperous organisation of their size and breadth could have a big effect on
the globe. As a result, the bank started funding several neighborhood initiatives.
Employees at HSBC took an active role in volunteering for numerous community
initiatives. Corporate donations and fund-raising initiatives were added to these efforts.
Additionally, employees were urged to make charitable contributions from their pay.
Employees of Household donated more than US$ 4.6 million in 2003, making the
company one of the top donors to the American Cancer Society through the "workplace
giving" program. HSBC raised 69.2 million dollars in contributions in 2004. These funds
were utilized to several initiatives in the fields of education, the environment, and others. 

HSBC are concentrated on three main topics: 

1.promoting environmental sustainability
2. education
3. Profit 

HSBC  main areas of concentration within environmental sustainability (PLANET)are: 

 Sustainability of freshwater 
 easy access to clean water 
 Sanitation and water 
 Climate weather 
 preservation of terrestrial environments and biodiversity

With HSBC's assistance, the Royal Botanic Gardens were able to create the HSBC
Oriental Garden, a modern garden that features East Asian species while maintaining an
uniquely Australian aesthetic. The garden had its formal debut in October 1997.
Numerous rare species were present in the HSBC Oriental Garden, which also served to
spread awareness of biodiversity and conservation issues. Additionally, staff members
had the option of using one day of paid volunteer time to assist with
additional environmentalprojects at Royal Botanic Gardens locations.

The corporation not only contributed to initiatives but also managed its environmental
impact well. The corporation has undertaken efforts to optimize energy and water use,
minimize greenhouse gas emissions, and manage waste at its facilities across the world
since 1997, when the first environmental policy was issued. The organization
concentrated on enhancing the method for reporting environmental data. The bank
embraced the Equator Principles in September 2003.

HSBC  main priorities within Promoting Education/People are: 

  disadvantaged youth, especially those enrolled in primary and secondary schools 
 career-enhancing vocational abilities 
 Livelihood improvement initiatives 
 Women's empowerment 
 linguistic and cultural awareness

Some of the projects undertaken for PEOPLE were:

1. The HSBC Children's Choir, or "Coral Infantil HSBC,

,," which includes 850 Brazilian children supported by eight organizations, was
established in 2002. With HSBC's assistance, the kids perform 15 times throughout the
year, with a spectacular Christmas presentation as the capstone. Children in the HSBC
Children's Choir in Brazil have grown in confidence and sense of value as a result of
producing music, receiving praise, and feeling cared for.

2. 1000 HSBC volunteers participated in Young Enterprise, a UK educational organisation

that urged young people to run their own business while enrolled in school full-time.

3. The 2003 exhibition for underprivileged children in Beijing,, China, was supported by
the Hong Kong Bank Foundation. Students from 15 special schools contributed 130
paintings and handmade items to the exhibition.

4.The corporation not only contributed to initiatives but also managed its environmental
impact well. The corporation has undertaken efforts to optimize energy and water use,
minimize greenhouse gas emissions, and manage waste at its facilities across the world
since 1997, when the first environmental policy was issued. The organization
concentrated on enhancing the method for reporting environmental data. The bank
embraced the Equator Principles in September 2003.

HSBC Also pioritized PROFIT.

1.HSBC was able to achieve an annualized cost saving of US$ 1.1 million in 2004, on
account of reduced consumption of 52 tons of paper, by offering online statements to
its personal banking customers.

2.The HSBC Brand was placed 33rd globally and valued at US$8.67 billion in a brand
valuation assessment of the top brands conducted by BusinessWeek magazine in 2004.
Comparing this appraisal to the one completed in 2003, there was a 15% rise.