HSBC and Google Cloud Partner for Climate Tech Financing Boost

HSBC and Google Cloud have collaborated to provide venture debt financing opportunities for companies in the climate technology sector, reports Finextra. The initiative, known as the Google Cloud Ready - Sustainability validation programme, is tailored for businesses offering solutions on Google Cloud that contribute to sustainability objectives, such as reducing carbon emissions, enhancing sustainability in value chains, and processing ESG data to identify climate risks.

As part of this partnership, eligible companies will gain access to HSBC's specialized climate tech finance team to explore options for venture debt financing. Notably, HSBC has already crafted a financing package for LevelTen Energy, a company facilitating renewable transaction infrastructure in the clean energy sector for buyers, sellers, advisors, and financiers.

Natalie Blyth, Global Head of Commercial Banking Sustainability at HSBC, emphasizes the collaboration's impact: "Through the combination of financial support, cloud technologies, and collaboration across our extensive networks, we aim to expedite the growth of climate tech vendors and foster the development of urgently needed solutions on a large scale."