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MUMBAI:
A climate change programme for India was launched in Mumbai today
by HSBC, the world's first carbon neutral bank, together with four
world-class environmental organisations - The Climate Group, Earthwatch
Institute, Smithsonian Tropical Research Institute (STRI) and WWF.
The programme in India forms part of the HSBC Climate Partnership
- a five year US$100 million initiative of the HSBC Group, to respond
to the urgent threat of climate change worldwide with the same four
partners - launched in May 2007.
- Through
its partners HSBC will work with research institutions, businesses
and individuals to combat the impact of climate change on forests,
freshwater, cities and people. Of the US$100 million contribution
by HSBC, the partners will spend US$12 million for work in India.
The HSBC Climate Partnership India programme expects to achieve
the following results in India by 2011:
- Freshwater:
WWF will help reduce the impact of climate change on people and
livelihoods by promoting action in the Ganga river basin in northern
India. This will lead to the development of a sustainable water
and energy management framework for critical parts of the Ganga
Basin.
- Forests:
STRI's Center for Tropical Forest Science (CTFS) will conduct
the largest-ever field experiment to understand the impact of
climate change on the world's tropical & non-tropical forests.
Research will address how carbon is stored in forests and how
this storage capacity will change in the future. CTFS will also
investigate the role of forests in regulating fresh water in the
environment, assessing in particular how floods and droughts will
impact tropical ecosystem. Earthwatch will conduct research to
understand how human activities affect the resilience of forests
to climatic variability, thereby helping to find the best forest
management strategies for the future.
- Cities:
The Climate Group will assist leading businesses and the government
in India to respond to the risks and opportunities of climate
change and work with industry, governments and consumers to help
Mumbai and Delhi become low carbon cities of the future.
- People:
Earthwatch will provide specialised training to over 3000 HSBC
employees in India and give them the opportunity to participate
in local volunteering projects in their workplace and communities
to become 'Climate Champions'.
Sandy
Flockhart, CEO HSBC Asia-Pacific inaugurated the HSBC Climate Partnership
India. Speaking on the occasion he said, "With a majority of
India's population living in rural areas whose livelihoods depend
on agriculture, forests, and fisheries which are climate susceptible,
there is a growing consensus on the need for understanding the environmental
challenges facing India. The HSBC Climate Partnership in India will
play a role in finding practical solutions and alternative means
of low or no carbon development and growth, for the benefit of the
Indian economy and people."
 Steve
Howard, CEO of The Climate Group said, "India will play a pivotal
role in determining whether the world can avoid dangerous climate
change. The challenge here is to limit emissions growth without
compromising economic growth or human welfare development. World
cities - concentrations of capital, decision makers, opinion formers
and consumers - are where many of the solutions to climate change
lie. Through the HSBC Climate Partnership we will work in Mumbai
and Delhi to share best practices developed by our international
corporate and government network, and to support local solutions"
Nigel
Winser, Executive Director of Earthwatch (Europe) said, "We
must act quickly if we are going to combat climate change. This
partnership unites five different organizations, all with the single
goal of making a difference and inspiring others to do the same.
The Earthwatch task is to bring together top scientists - HSBC staff
- and local communities - to speed up the knowledge required to
understand the complex issue of climate change and to make clear
and firm recommendations. We believe in inspiring action, not apathy.
This programme will demonstrate that individuals can play a key
role in protecting our planet."
Dr
Ira Rubinoff, Director of STRI and Acting Under Secretary for Sciences,
Smithsonian Institution said, "The Smithsonian has studied
tropical forests for nearly one hundred years. We are setting up
a network of new Global Earth Observatories, based on the longest
running standardised forest monitoring programme, covering all the
major tropical rainforest areas of the world. HSBC's donation will
enable the Smithsonian to deliver key scientific data in the hands
of decision makers responsible for global carbon policy and water
management."
Ravi
Singh, Secretary General & CEO, WWF India said, "Never
has it been more critical to recognise that we live in one world
and the impacts of climate change will be felt by all, particularly
vulnerable communities dependent on India's freshwater systems.
The Ganga, which is the lifeline for over 200 million people in
this country, is in crisis due to a combination of climate impacts
and human action. WWF India, as part of the HSBC Climate Partnership
will build awareness and mobilize action at all levels to ensure
that we have a living Ganga for future generations"
HSBC's
US$100 million partnership is the largest donation made to each
of these charities and demonstrates HSBC's ongoing commitment to
sustainability.
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