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The more I learn about the terrible damage man is inflicting on the earth and its biodiversity, it makes me really sad to think that ou...

HSBC has topped a new survey comparing the environmental policies of the world's leading banks.

The lender was particularly praised in the research, undertaken by US environmental group Ceres, for its green technology initiatives, with Citigroup and the Bank of America also receiving positive comments.

However, several well-known names fared less well in the assessment of their attempts to combat climate change, with both Lehman Brothers and Bear Stearns posting low scores.

Commenting on the findings, Ceres president Mindy Lubber told CNN that, overall, the results represented a sea-change in bank's attitudes towards greening their operations.

"We're seeing a different mindset across the board," she said. "They've gotten more involved because the debate has changed. This is a capital market issue and a government issue."

However, she told "They must do more to move the economy away from fossil fuels and high-carbon investments that are exacerbating climate change."

The website reported that HSBC is currently undertaking a five-year, £46 million, global environmental efficiency programme, addressing issues such as recycling and energy usage.ADNFCR-1231-ID-18425723-ADNFCR

Article Date: 14 January 2008

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