HSBC builds up China green finance team: report

It also mulls offering carbon offset products to customers, a source said.

HSBC is building up its green finance and bond teams in China to meet surging demand, reports Reuters, based on information shared by anonymous sources.

Europe’s biggest bank by assets will make key investments in its asset management arm in China this year, including launching new teams dedicated to green assets and fixed income, two sources said. The sources did not put a figure on the investments.

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The lender is also exploring offering carbon offsetting products to customers after a surge in client queries over the past year, a third source said.

HSBC chairman Mark Tucker reportedly recently met with Chinese regulatory officials in Beijing last week to help pave the way for the bank to accelerate growth in China, including in the country's fast-growing $3.9t fund market.

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HSBC declined to comment.

Here’s more from Reuters.