The Future of Work … is Sustainable

Back to 2021 HSBC Navigator: The Voice of Business

Greener days are ahead. Find out why sustainability should stay a top priority today.

Have Canadian companies become climate skeptics?  When it comes to their views on the effectiveness of global climate pacts, they most certainly are. So, what does this mean for widespread adoption and implementation of sustainable business practices when less than a quarter of organizations are concerned with environmental threats?

Canada has long been considered a progressive country when it comes to the fight against climate change and it has made a number of policy pledges to back that up, notably its commitment to achieving a net-zero carbon economy through ambitious emission reduction targets, a national carbon tax and government support programs to foster sustainable business operations.

While Canadian policy makers view climate change as a major threat, Canadian businesses may not be on the same page, according to our latest survey. In fact, only 16% of Canadian organizations believe sustainability risks pose a threat to potential growth. Additionally, there is rising skepticism about whether or not these ambitious targets put forth at international climate summits will make a real difference.

I think a lot of Canadians would be surprised to learn that 11% of businesses in this country believe global climate pacts and accords will have zero effect on making meaningful impacts in the fight against climate change,” says Angie Hall, Head of Sustainable Finance, HSBC Bank Canada. “That’s almost twice as high as their international peers. Not only that, just over a quarter of Canadian businesses (27%) believe these climate meetings are crucial for driving policy and action which is also much lower than the global average we surveyed at 39%.

Angie Hall | Head of Sustainable Finance, HSBC Bank Canada

As a global leader in sustainable banking, HSBC Bank Canada is uniquely positioned to assist organizations in implementing and achieving their sustainability goals. As a member of the Net-Zero Banking Alliance, we are committed to aligning our lending and investment portfolios with net-zero emissions by 2050 through ambitious science-based programs in conjunction with our international partners in this important framework.

UP NEXT: Could a short-term focus on fortification at home cost Canadian businesses long-term international trade opportunities

Climate skeptics: Canadian businesses are not warming to the idea that global climate pacts will make a major impact on the environment (27% vs 39%).

Why not get ahead today?


Nine out of 10 businesses (91%) worldwide see the recovery phase of the COVID-19 pandemic as an opportunity to make their operations more environmentally sustainable.

(HSBC Navigator: Building back better)

Eighty-four per cent of Canadian business leaders say that the need to review their operations due to COVID-19 will enable them to rebuild their business on firmer environmental foundations.

(HSBC Navigator: Building back better)

One in three (33%) Canadian business leaders expect to see increased pressure from employees to operate in a more sustainable manner over the next two years, while one in four (27%) expect the same pressures to come from shareholders, owners and investors.

(HSBC Navigator: Building back better)

Find out more

Need help?

Get in touch to learn more about our banking solutions and how we can help you drive your business forward.