HSBC backs China’s global clean tech push with $4B

HSBC on Monday unveiled a dedicated $4 billion credit facility aimed at supporting the global expansion of mainland Chinese companies working in sustainable and transition technologies, including clean energy, data centres, electric vehicles and artificial intelligence, News.Az reports, citing Reuters.

China, already the world’s largest exporter of solar and battery technologies, continues to lead in the deployment of many green energy solutions as part of broader efforts to reduce emissions and expand its global market presence and influence.

HSBC’s launch of the Sustainability and Transition Credit Facility comes amid rising global demand for renewable energy sources such as wind and solar power, driven in part by the ongoing Iran conflict and the increasing competitiveness of renewables compared with fossil fuels.

According to HSBC research, global electric vehicle sales are expected to exceed 26 million units in 2026. Meanwhile, the International Energy Agency estimates that electricity consumption from data centres could nearly double by 2030, reaching 945 terawatt hours.

HSBC said the new facility will provide extended credit terms, faster approval processes and customized financing solutions for qualifying companies.

“China is home to some of the world’s most dynamic low-carbon companies” that are “setting new benchmarks in high-end manufacturing,” said Natalie Blyth.

“As they scale internationally, they need financial partners with the global reach and expertise to support them. This facility is designed to provide exactly that,” Blyth added.

Chinese companies have committed more than $180 billion to overseas clean technology investments since 2023, according to a December report by Australian research organization Climate Energy Finance.

News.Az 

By Nijat Babayev