HSBC mobilised USD 102 billion in sustainable finance and investment during 2025, the highest annual figure the bank has recorded and the first time it has surpassed the USD 100 billion threshold in a single calendar year, according to disclosures contained in its 2025 Annual Report released in February 2026. The result brings the bank's cumulative sustainable finance total since 2020 to USD 495.6 billion, placing it at about two-thirds of the lower end of the USD 750 billion to USD 1 trillion target that HSBC has set for 2030.
HSBC exited the Net-Zero Banking Alliance in July 2025, joining a number of global financial institutions that withdrew from the industry-led climate coalition during the preceding twelve months. The bank has maintained publicly that its 2030 sustainable finance target and its sectoral lending and underwriting policies remain in effect as independently held commitments, regardless of its departure from the NZBA.
2025 BREAKDOWN
The USD 102 billion figure for 2025 represents the full year's sustainable finance activity as defined by HSBC's internal methodology, encompassing balance sheet financing (USD 52.8bn), capital markets and advisory activity (USD 32.6bn) and net new flows into ESG and sustainable investing (USD 16.6bn) that meet the bank's qualifying criteria.
With cumulative mobilisation at USD 495.6 billion, HSBC has reached about two-thirds of the lower boundary of its 2030 target range. Reaching USD 750 billion by 2030 would require the bank to mobilise roughly USD 254 billion more over the remaining five years, an average of approximately USD 51 billion per year — a pace that the 2025 figure demonstrates has already been exceeded. Reaching the upper bound of USD 1 trillion by 2030 would require HSBC to sustain its 2025 run rate, implying average annual mobilisation of about USD 101 billion, roughly the 2025 pace.
NZBA EXIT AND INDEPENDENT COMMITMENTS
The bank's position is that its own sustainable finance target, sectoral lending policies covering high-emitting industries, and climate-related disclosure framework constitute self-standing obligations that do not depend on coalition membership for their validity or their enforcement.