HSBC to partner with Google to finance climate tech firms
![HSBC to partner with Google to finance climate tech firms](https://sustainabilityeconomicsnews.com/wp-content/uploads/2024/02/GF0JXlHW0AAlAix.jpeg)
HSBC, the largest bank in Britain, has teamed up with Google to fund rapidly expanding climate technology companies that offer promising solutions to global climate change.
According to executives from both companies, HSBC will provide financing to firms selected by Google to participate in its Google Cloud Ready-Sustainability program.
Justin Keeble, managing director for global sustainability at Google Cloud said, “What we’re seeing is companies wanting to accelerate delivery of their sustainability goals. But there’s a degree of confusion as to which solutions out there are going to help solve their problems.”
“HSBC’s finance will help those partners scale their businesses, and then HSBC will help customers access all this innovation,” Keeble added.
Martin Richards, global head of climate tech and sustainable finance at HSBC, said, “We feel like we are increasing our odds of success by working with partners like Google. We recognise we’re taking credit risks, but that is all part of banking.”
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