CSR Initiatives at HSBC: Making Good Business Sense

In 2001, HSBC had begun planning the logistics for the movement of 8500 staff from around 20 different sites in central London to its new 45-storey headquarters at Canary Wharf in London's Docklands district.

One of the key challenges was the disposal of more than 3000 metric tons of office furniture. HSBC was faced with the options of either disposing off the furniture through landfill or of recycling and reusing it. Though the landfill option would have been easier and more cost effective, the management at HSBC decided to look at the option of reuse of this furniture by smaller organizations and charitable trusts. It partnered with Green-Works, a not-for-profit social enterprise providing office furniture to schools, charities, community groups, and start-up businesses.

Our partnership has led to the opening of Green-Works' Silvertown warehouse, which in turn created local jobs and training development. We are delighted that such a good social enterprise is now expanding on a national level."

The final destination of the office equipment discarded by HSBC was Gambia³ where the equipment was distributed to schools, hospitals, and a wide range of non-government organization projects under the President's Award Scheme. Though the cost of disposal of the furniture through the Green-Works option was 10% higher than the landfill option, the company went ahead with it as it was in line with their values and principles on environmental management and social responsibility.