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HSBC Publishes 2003 Corporate Responsibility Report

Ethical Performance

7 June, 2004

One of the world's largest banks, HSBC, has published its latest report on its corporate social responsibility activities.

HSBC in Society, which covers the year 2003, has been sent to shareholders with the bank's Annual Report & Accounts.

The report covers a wide range of topics, including the practical implications for the bank of its recent support for the Equator Principles - a set of guidelines that commits financial institutions to assess the environmental and social impacts of large projects before they agree to finance them.

The web-based document says HSBC, which operates in 79 countries, will implement the principles across the group during 2004. This will, for example, involve collating the data that external observers will need to assess its adherence to the Equator Principles, for publication in next year's report.

The 2003 report also:

- previews the bank's work with the global environmental network WWF to develop sustainable lending policies for freshwater and forest projects

- details the thinking behind the recent creation of a board level CSR committee

- provides details of HSBC's $47 million spending on worldwide community support during 2003.

The report is at http://www.hsbc.com/society

Ethical Performance: http://www.ethicalperformance.com/