HSBC 2015 Annual Report Download - page 11

Looking back – our 150th anniversary
In 2015, HSBC marked its 150th anniversary by
recognising its staff for their essential contributions
through the ages, and its customers for their shared
commitment and loyalty. As we enter the next
period of our history, I want to reiterate these
messages of gratitude and underline our recognition
that such commitment and loyalty have to be earned.
HSBC has also always recognised its responsibilities
to the communities it serves and so in this special
year committed $150m of additional funding
to community projects around the world over
three years.
We also wanted to identify a distinctive cause with
global significance to mark our special anniversary.
We were delighted, therefore, to announce a
partnership with Cancer Research UK to support
the scientific leaders of tomorrow through a
$25m contribution towards the development
and construction of the Francis Crick Institute.
This state-of-the-art biomedical research facility
will open in the heart of London in 2016 and support
more than 1,200 scientists, collaborating to tackle
the diseases that pose the greatest threat to
humanity – cancer, heart disease, lung disease
and infectious diseases, including HIV and malaria.
To mark HSBC’s support, 150 PhD students,
selected from across the world, will have the
opportunity to conduct vital research at the
new institute.
Looking ahead
Current market conditions are inevitably concentrating
attention on the risks that exist within the global
economy. It is, however, important also to recognise
again the resilience that our diversified business
model and balance sheet strength provide, as well
as noting the many counterbalances that should help
to underpin the global economy.
China’s slower economic growth will undoubtedly
contribute to a bumpier financial environment, but
it is still expected to be the largest contributor to
global growth as its economy transitions to higher
added value manufacturing and services and
becomes more consumer driven. This transition
is driving our focus on the Pearl River Delta as a
priority growth opportunity given its concentration
of high tech, research focused and digital businesses.
‘ We enter 2016 with a clear strategy and with
much of the Group’s required reshaping
completed or under way’
There is a real possibility of meaningful stimulus
for the global economy to come from further trade
liberalisation initiatives such as the Trans-Pacific
Partnership agreement, which was signed earlier
this month.
The global focus on infrastructure development,
most notably the Belt and Road initiative in China
and the Juncker plan in Europe will expand public/
private financing opportunities.
Similarly, the agreements reached on climate change
at the recent COP21 conference in Paris will require
further significant infrastructure renewal. They
will also greatly expand the market for sustainable
financing options such as green bonds where HSBC
is a leading participant. Reinforcing this position,
the Group recently committed $1bn to a green
bond portfolio to fund projects in sectors such
as renewable energy, energy efficiency, clean
transportation and climate change adaption as
well as SME financing in sectors such as public
transport, education and healthcare.
Technology advancements in financial services are
broadening access, improving customer service and
lowering the costs of service delivery. At the same
time, the amount of data held digitally is exploding,
reinforcing the need to bolster cyber security. There
is an urgent public policy need to clarify how
responsibility is to be shared, given the growing
number of routes through which customers can
authorise movement of money from their accounts
or the sharing of data within these accounts.
We enter 2016 with a clear strategy and with much
of the Group’s required reshaping completed or under
way. Our 264,000 staff, like their predecessors, went
the extra mile consistently throughout 2015 to meet
the demands placed on them by our customers,
regulators and the public. I want to place on the
record the Board’s appreciation of that commitment
and our gratitude for what they have achieved to
make HSBC fit for the next 150 years.
Douglas Flint
Group Chairman
22 February 2016
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HSBC HOLDINGS PLC
9
Group Chairman’s Statement