HSBC has partnered with Google Cloud to provide venture debt financing options for climate technology companies.
The Google Cloud Ready – Sustainability validation program is aimed at businesses leveraging Google Cloud to help their customers achieve sustainability objectives. This includes initiatives for carbon emission reduction, enhancing sustainability in value chains, and processing ESG data to identify climate risks.
Through this collaboration, participating firms will have access to HSBC’s specialized climate tech finance team to explore venture debt financing opportunities.
One notable outcome of this partnership is HSBC’s financing package for LevelTen Energy, a company that facilitates renewable transaction infrastructure for various stakeholders in the clean energy economy.
Natalie Blyth, global head of commercial banking sustainability at HSBC, stated, “By combining financing support, cloud technologies, and connectivity to partners across our combined footprints, we will help climate tech vendors accelerate their growth and develop the solutions we urgently need at scale.”