Climate Change / Global Warming & Investing Implications

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HSBC Launches International Survey of Public Attitudes towards Climate Change
New Research Shows Developing Countries Most Concerned About Need to Combat Climate Change
Jul 12, 2007 11:00:00 AM
Copyright Business Wire 2007
NEW YORK--(BUSINESS WIRE)--

HSBC's first international survey of public attitudes towards climate change highlights a surprising spectrum of opinions across the world. Climate change may be a global issue, but reactions to it vary strongly. The HSBC Climate Confidence Index shows that people in developing economies exhibit the greatest concern, commitment and optimism towards the problem of climate change and in developed economies the greatest indifference, reluctance and fatalism.

Overall, the survey reveals that citizens of China and India are most optimistic that the problem of climate change can be overcome, while those in France, Germany and the UK are least optimistic that a solution will be found with the US, Mexico, Brazil and Hong Kong falling somewhere in between..

The research, based on a sample of 9,000 people in nine countries and territories, across four continents, also demonstrates that:

-- Climate change is having a significant impact on public
opinion in the developing countries surveyed. Around 60
percent of respondents registered a high level of concern in
China, India, Mexico and Brazil. In the U.S., 32 percent of
Americans are concerned with climate change compared with only
22 percent in the UK and 26 percent in Germany. Climate change
is the 4th major concern among Americans behind terrorism,
healthcare and planning for retirement.

-- People's assessment of their commitment to tackling climate is
higher in developing economies. Around 47 percent of people
indicated high levels of personal commitment to combating
climate change in India and Brazil, compared with only 19
percent in the UK.
"The HSBC Climate Confidence Index is an important barometer of international public attitudes towards climate change," said John Beckinghausen, Director, Sustainable Development & Operations, Corporate Real Estate, HSBC Bank USA, N.A. "Over time we believe it will enable us to better understand the actions individuals are prepared to take in reducing their carbon footprint and how we can work with governments and the business community to provide financial solutions to support them."

The index also highlights the emergence of so-called 'green rejection' in the developed world - a rejection that climate change is a problem, of solutions to it and of the institutions proposing them. Green rejection is strongest in the UK and Germany, where respondents were among the least engaged and optimistic about the challenge. In the US, respondents were by far the most confident and optimistic of all the developed economies surveyed. In fact, 18 percent of Americans responded that they believe we will stop climate change and 32 percent agreed that the people and organizations who should be doing something about climate change were taking action.

With regard to whose responsibility it is to tackle the problem, a clear majority of all respondents across countries and age groups - 68 percent - believe that governments should be playing the leading role, compared with NGOs, companies and individuals. However, only 33 percent felt that governments play this role today.

The launch of the HSBC Climate Confidence Index is part of HSBC's broader strategy to contribute to tackling climate change. Other initiatives include the Global Environmental Efficiency Programme, a US$90m commitment to reduce its own direct environmental impacts; the Carbon Finance Strategy, to help clients respond to the challenges and opportunities of creating a low-carbon economy; and the HSBC Climate Partnership, a US$100m program involving four of the world's most respected environmental groups and HSBC's 315,000 employees in helping reduce the impacts of climate change worldwide.

HSBC has also recently announced the appointment of Sir Nicholas Stern as its Special Adviser on Economic Development and Climate Change.

For a complete copy of the HSBC Climate Confidence Index or specific US-data please contact: Francine Minadeo at 212-525-8737 or [e-mail]

Note to editors

HSBC Climate Confidence Index
In one of the biggest research projects of its kind ever undertaken, nine thousand respondents completed an internet based survey in nine countries and their answers were analysed and converted into an index indicating the level of concern. The countries surveyed were: Brazil, China, France, Germany, Hong Kong SAR, India, Mexico, UK and USA. For further information, please go to: www.hsbc.com

HSBC Holdings plc - www.hsbc.com

The HSBC Group is one of the largest banking and financial services organisations in the world. The Group has around 10,000 offices in 82 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa, serves over 125 million customers and has assets of US$1,861 billion as 31 December 2006. HSBC was the first major bank - and the first FTSE 100 company - to become carbon neutral.

Source: HSBC Holdings plc



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HSBC Holdings
Francine Minadeo
212-525-8737
[e-mail]