HSBC to allocate $1b for climate-tech startups

HSBC Holdings said on Wednesday it plans to allocate $1 billion in financing to support emerging climate-tech companies around the world, in a push to help reduce carbon emissions, reports Reuters.

The financing is expected to support start-ups in EV charging, battery storage, sustainable food and agriculture and carbon removal technologies, HSBC said.

London-based HSBC would also invest $100 million in Breakthrough Energy Catalyst, a separate platform that funds and invests in firms using emerging technologies to transition to cleaner sources of energy.