HSBC Egypt launched the Green Personal Finance Initiative for its retail customers in Egypt as part of the bank’s efforts to support clients on their journeys to a net-zero carbon future.
HSBC Green Personal Finance offers an interest rate discount on standard personal finance products and flexible repayment periods. It is available exclusively for the purchase of electric vehicles or solar panels for homes and associated installation expenses.
“We all have a role to play in climate action, and HSBC is mobilising finance to support our customers’ transitions to net-zero, providing competitively priced green finance to support the sustainability choices of our customers,” said Nesreen Hafez — Head of Wealth and Personal Banking at HSBC Egypt.
“HSBC has set out an ambitious plan to unlock finance solutions that can support our customers in their energy transition. Our green finance products are designed to support the efforts of our customers to build a more sustainable lifestyle, and the launch of HSBC Green Personal Finance supports the Egyptian government’s 2030 Vision and its ambitious goal for renewables to make up 42% of the country’s energy mix by 2035,” Hafez said.
Furthermore, HSBC has been recognised as the Best Bank in the Middle East for Sustainable Finance for three years in a row in the widely respected annual Awards for Excellence by Euromoney — the global financial news provider.
The bank is also committed to helping lead the transition to a global net-zero economy and expects to provide between $750bn and $1 trillion in sustainable financing and investment worldwide by 2030 to support its clients in their transitions.
Additionally, HSBC is leveraging its network throughout the Middle East to identify start-up firms in the region that are developing carbon-cutting technologies as part of the climate innovation workstream within the bank’s global Climate Solutions Partnership.