CSR Initiatives at HSBC: Making Good Business Sense


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Case Details:

Case Code : BECG049
Case Length : 11 Pages
Period : 1999-2005
Pub. Date : 2005
Teaching Note : Available
Organization : HSBC
Industry : Banking / Financial Services
Countries : UK

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Please note:

This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.

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Excerpts

Group Structure and Holding

HSBC Holdings is a public limited company incorporated in England and Wales.

Headquartered in London, the HSBC group operates in five regions: Europe, Hong Kong, the rest of Asia-Pacific including the Middle East and Africa, North America, and South America.

(Refer to Table I for a list of some of HSBC's largest and well-known subsidiaries).

To more easily promote the group as a whole, HSBC was established as a uniform, international brand name in 1999. In 2002, HSBC launched a campaign to differentiate its brand from those of its competitors by summarizing its unique characteristics with the words, 'The world's local bank'...

CSR - A Strategic Thrust

HSBC had formally put forward their commitment to sustainability as early as 1992 by being a signatory to the UN Environment Program Statement by Financial Institutions on Environment and Sustainable Development.

After having published their first Environmental Policy in 1997 and statement of business principles and values in 1998, the group appointed Lord Butler as non-executive director to oversee the 'HSBC in Community' philanthropic program in 1999. The HSBC education trust was later set up in the UK and starting 2001, the group regularly reported their progress in CSR activities through yearly CSR reports. In the Corporate Social Responsibility (CSR) 2003 report released by HSBC, CSR was defined as addressing the expectations of customers, shareholders, employees, and other stake-holders in managing business responsibly and sensitively for long-term success.

HSBC believed that multinational enterprises had a greater responsibility toward social, ethical, and environmental causes as they were in direct interface with people, businesses, and communities across the globe. In this report, HSBC Group Chairman, Sir John Bond, spelt out the current priorities of the group in clear terms...

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