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HSBC Social Responsibility - Essay Example

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Hongkong and Shanghai Banking Corporation known as HSBC, was established in 1965. It is the world's largest banking company and was ranked upto the fifth number in the year 2000. Around 22% of the earings are from operations in Hong Kong. And at the end of the year 2004 HSBC was ranked the third largest banking Company round the globe…
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HSBC Social Responsibility
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Download file to see previous pages Their coperate and social reponsibilites are degined in the areas of housing, community, Education, including the environment.
HSBC invest in many educational programmes, they provide financial and economic welfare and scholarships to the students and also support the organizations that educate youth age 3-19. They also provide online guidelines to people who need financial assistance. Through their website "", they give financial and credit education in English and Spanish. The site is designed to help people in understanding more about saving and investing money on usefull measures. They also provide Financial Education Grant programme. HSBC has supported 36 organizations and granted over 3million dallars in order to develop financial literacy programs in the communities.
They say they are committed to provide access to education. In order to find motivated and deserving students who can receive scholarships, they have formed partnerships with many organizations. Organizations like The United Negro College Fund, TheHispanic Scholarship Fund(HSF), University of Maryland University College (UMUC), and the Bennett College for Women.
HSBC is also in patnership with Junior Achievement, the world's largest non-profit youth economic organization. ...
Owning a home doesnot only meand providing a shelter and building persnil wealth but it also creates a scence of pride, resposibility, gives self satisfaction and a feelings of accomplishment which strengthens community.
It provides a wide veriety of programs to promote home ownership. They support IDAs (industrial develepment accounts) with grants so that they could help people to save for down payment. They also contribute to those groups that educate and train people on the importance of financial aspects of homeownership.
One programme coming up with solutions of neighbourhood housing problems is HOPI (Homeownership Preservation Initiative) and also with the city of Chicago, the institution known as Neighborhood Housing Services of Chicago and many other institutions. Such groups help in providing better shelter in affordable housing to the families in the neighbourhood of Chicago.
It also helps in reducing foreclosures. The work day and night to provide people with loans, loans that are right for them and ensure that they follow and understand each rule and condition made by the firm and pay accordingly. But if the problems arise in repayment they also help people by offering programmes like the Foreclosure Avoidance Program, and the Consumer Rescue Fund.
Green electricity in Australia, Brazil, the UK, and the US is also another example of its projects. HSBC group is trying to buy green electricity, which can be generated without the use of fossil fuels. Offsetting some remaining carbon dioxide emissions by the help of carbon allowances or credits.
The Bank Working Ground that comes under the banner of the Climate Group is having its founder member as HSBC. In order to speed up the process of ...Download file to see next pagesRead More
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