HSBC to set up climate research centre

London, 26 July: Banking giant HSBC has named a leading socially responsible investment expert to head its newly-formed climate change research centre. Nick Robins, head of SRI funds at asset manager Henderson Global Investors, will join HSBC in October to run its 'Climate Change Centre of Excellence'.

HSBC says that the centre will aim to "translate a wide range of expert inputs – from academic studies, think-tanks and government regulations – into business opportunities for the bank and its clients".

"Climate change represents one of the largest environmental challenges for HSBC and our clients," said Jon Williams, group head of sustainable development. "The Climate Change Centre of Excellence will enable us to deepen our understanding of the risks and opportunities, and integrate them into our core financial services business."

The centre – which will tap into the bank's 140-strong team of Bangalore-based specialists – will work with HSBC's global research heads and analysts to assess the financial implications of climate change and regulations to curb greenhouse gases, the bank said.

Robins is to make four initial hires, a spokeswoman added. Specifically, the centre will carry out work looking at the effects of climate change regulation on company valuations, incorporating climate change into financial models, and how emerging markets are affected by the issue. She added that the analysis will be incorporated across the full range of the bank's existing investment research output.

The centre will also support HSBC's carbon finance strategy, announced last year, under which it pledged to increase its financing for companies in the low-carbon economy.

Robins will be based in HSBC's London office, reporting jointly to Williams and David Burnett, head of global research.