HSBC becomes partner in Bill Gates’ energy project

HSBC will invest $100m to accelerate green technologies earmarked by Breakthrough Energy Catalyst, a private-public programme supported by Bill Gates.

Breakthrough Energy Catalyst supports decarbonisation of high-carbon sectors via four climate critical technologies – direct air capture, clean hydrogen, long-duration energy storage, and sustainable aviation fuel.

The initiative lies within the larger Breakthrough Energy network founded by Bill Gates, with Catalyst funds actual projects, not companies, focusing on what it will take to drive down costs and rapidly grow the adoption of climate-smart technologies. Catalyst also focuses on bringing down the cost of production for products, such as clean hydrogen and sustainable aviation fuel, thereby reducing the ‘green premium’ on these products and making them more accessible. HSBC’s $100m investment will accelerate the global net-zero pathway and supports HSBC’s goal of achieving net-zero climate impact by 2050.

In addition to its investment, HSBC will join the leadership council for Breakthrough Energy Catalyst, providing an expert view on the transition opportunities in some of its biggest markets, notably in Asia and the Middle East.

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