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HSBC Climate Confidence Index 2007 HSBC Financed a Deal to Provide 1,800 Low-Emission Buses to Serve 4.5 Million Passengers a Day in Santiago, Chile

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HSBC Climate Confidence Index 2007 HSBC Financed a Deal to Provide 1,800 Low-Emission Buses to Serve 4.5 Million Passengers a Day in Santiago, Chile HSBC Climate Confidence Index 2007 Contents 1 Foreword 2 Executive Summary 4 Creating a Consumer Index 6 HSBC Climate Confidence Index 2007 8 Concern 10 Confidence 14 Commitment 16 Optimism 18 Implications 20 Contact information HSBC Climate Partnership HSBC financed a deal to provide 1,800 low-emission buses to serve 4.5 million passengers a day in Santiago, Chile. Sustainable fishing on the Purus Cover River, near Sena Madureira in Working with WWF and supported by HSBC, local communities use Brazil, supported by HSBC and its eco-fishing practices, which increase their income and reduce pollution on environmental partner, WWF. the Yangtze River in China. Foreword The HSBC Climate Confidence set targets to reduce the amount that everyone feels he or she and others adopting such Index 2007 is our first survey of energy and water HSBC can make a difference in programmes is what the HSBC of public attitudes to climate uses, and the waste and carbon tackling this most critical of issues. Climate Confidence Index change in nine of the world’s dioxide we produce. Under Engaging people – seeks to provide. The findings major markets. our Global Environmental governments and businesses, as present a few surprises and Financial institutions like Efficiency Programme, we are well as individuals – in much food for thought. The HSBC have an important part to investing US$90 million over combating the causes and levels of commitment and play in the transition to a low- the next five years to help us effects of climate change is the optimism, particularly in carbon economy. HSBC’s achieve these targets. In aim of a new, US$100 million developing economies, provide carbon finance strategy aims to addition, HSBC became carbon environmental partnership great encouragement. support businesses that are neutral from October 2005. launched in May 2007. The For HSBC and for society at developing cleaner, We were the world’s first major HSBC Climate Partnership large, the challenge of climate commercially viable bank and the first FTSE 100 unites us with four of the change is one we are only just technologies such as wind, company to do so. world's most respected beginning to address. We need solar, biofuels and landfill gas Such indicators – especially environmental organisations – to find ways of reducing our capture. As a result, low-carbon carbon dioxide – are the hard The Climate Group, Earthwatch impact on the environment and and renewables projects are an measures of performance in the Institute, the Smithsonian of involving people at every increasingly important part of world’s fight against climate Tropical Research Institute and level. Instruments that allow our portfolio. change. But as we start to WWF. Over the next five years, us to chart our progress and Like most major international address underlying causes and we will work together in some take the necessary steps will Stephen Green companies, we measure and develop solutions, it is clear that of the world’s great cities to be vital. Group Chairman report publicly on a range of we need a new, ‘softer’ set of influence policy and practice, We do not pretend that this HSBC Holdings plc indicators, enabling us to measures that chart our progress and to engage HSBC’s survey provides all the answers, July 2007 manage the environmental in engaging the most crucial employees, customers and the but we hope it makes a useful impact of our operations. Like element of all: people. Across wider community. contribution to promoting action many businesses, we have also the world, we need to ensure Research that can guide us on climate change. HSBC Climate Confidence Index 2007 1 Executive Summary The HSBC Climate Most striking is the contrast confident with their personal first, time second and money and 6% for non-governmental between developed and interpretation of climate last – is consistent in every organisations (NGOs). Only Confidence Index developing economies. The science, comfortable with one of the nine economies 33% think that governments 2007 shows a world conventional picture, of uncertainty about the future, surveyed. currently play that role. of polarised attitudes committed developed economies and suspicious of the motives People have a high Will all these actions be and reluctant developing ones, of both governments and assessment of the commitments enough? Again, the contrast is to climate change is a myth. If that picture holds companies. While a minority, they are already making, and striking between developing and and to our response at government level, the this is a growing constituency not just in the developing developed economies. The opposite is true for the people. that any climate-related economies. Across all nine proportion of people agreeing to the issue. Climate Across the nine economies we initiative needs to recognise. economies, few people say they that ‘we will stop climate change may be a surveyed, it is in the developing Feeding this rejection is a are doing nothing; about four in change’ varies from 45% in economies that people show the lack of popular consensus about 10 acknowledge that they could India and 39% in China, to only global issue, but the greatest concern, commitment what accepting the problem do more; but already a further 6% in the UK and 5% reactions to it vary and optimism, and in the means. Across the nine four in 10 people say they are in France. developed economies that economies we surveyed, only a doing as much as they can. This pessimistic view gives strongly. people show the greatest third of people say that ‘if we Other research suggests that the an opportunity, and even a indifference, reluctance and all act now we can help stop judgement of ‘as much as they mandate, to both governments fatalism. climate change for very little can’ may be driven both by a and companies. Governments ‘Green rejection’ – a rejection cost or disruption.’ In almost all sense of having no spare are clearly being asked to take of the problem, of solutions to economies, slightly more people capacity, and by lack of a leadership role though, in it, and of the institutions say that ‘we should make a big awareness of what else they developed economies, they need proposing them – is a growing change to all of our lifestyles could do. to overcome considerable issue in the developed today to reduce climate change.’ By comparison, neither suspicion in order to do so. economies. This may represent Most people do declare governments nor companies are Companies are held less a natural and temporary stage of themselves prepared to make seen to be doing what is needed accountable, but have a clear disillusionment while people are these changes: 58% say they today. It is to governments that opportunity to contribute, and asked to work hard at are prepared to make changes people would like to push the to benefit by being seen to do something with no visible to their lifestyle, 45% are responsibility: 68% of people so – if they can respond result. However, there are signs prepared to spend extra time, think that governments should effectively to the green rejecters that the rejection is deeper than and 28% are prepared to spend play the leading role in and consumer priorities. that. At the core are a strong- extra money to help reduce responding to climate change, minded, generally younger, climate change. The ranking of compared with 16% for group of people, who are these commitments – lifestyle individuals, 10% for companies 2 HSBC Climate Confidence Index 2007 Attitudes to climate change are complex and cannot be summed up simply in one sentence. Our index measures attitudes on four core scales to provide a profile of people’s thinking on climate change. Commitment personally to contribute today. Optimism People’s assessment of their that we will solve commitment is moderately the problem. high across the nine Despite the high Concern economies surveyed, with commitment, belief that we about the issue. Confidence relatively little variation will stop climate change is Climate change is the in what is being around the world despite low in most of the world, number one concern in the done about it today. different circumstances. but with strong regional developing economies Overall confidence is low. Brazil and India (both 47%) variations. Optimism is surveyed. It is the number China (46%) and Hong show the highest highest in India (45%) and three concern in Europe Kong SAR (38%) have the commitment, with the UK China (39%), and lowest in and the joint fourth with highest confidence, with (19%) and US (23%) the France (5%) and the UK another issue in the US. the UK (5%), Germany (6%) lowest. More people say (6%). Mexico and Brazil, India (60%), Mexico (59%) and France (7%) the lowest. they are prepared to make with similar scores to India and Brazil (58%) have the In Germany, the UK and changes to their lifestyle to on the first three index highest levels of concern China, more than a third of help reduce climate change measures, are much less about climate change, with people think we should not (58%), than are prepared to optimistic on this outcome the lowest being the UK be individually trying to fix spend extra time (45%) or measure (24% and 26% (22%) and Germany (26%). the problem. extra money (28%). respectively). HSBC Climate Confidence Index 2007 3 Creating a Consumer Index The HSBC Climate Confidence Index is Consumer responses to climate change are governed as much by their different perceptions of the designed to understand and measure problems as their commitment to particular solutions. For this reason, there is no single number that can usefully measure ‘climate confidence’.
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