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TECHNOLOGY

By Paul Frost, Chief Architect, Wholesale Banking Technology, HSBC

As COP26 gets into full swing, I’ve started reflecting on what we as technology leaders can do to support the sustainability and the net-zero agenda. Since the turn of the 21st century we as a society have become more and more dependent on technology both in our personal lives and at work, and the push to digitise continues at pace, especially in the financial sector.

Let’s start by saying from a carbon footprint perspective this is a good thing, for almost all processes in a digitised journey will always be more carbon-efficient than the equivalent manual process. Using paper and visiting a branch by example are evidently more carbon-intensive. Having said that we must also recognise that for us at HSBC and other banks, technology is a sizeable part of our carbon footprint. So what are the levers we have to influence the size of this footprint?

There are a number of choices we can make that have a positive impact — from large decisions around hosting, through to how we manage our day-to-day activities across technology. One of the most impactful things we can do is to use the cloud. Whilst we are moving to more sustainable internal data centres, cloud providers are generally ahead of this curve as they have had to drive a high degree of efficiency to support their hyperscale demands. That, and their advances in use of green energy, puts them ahead in the goals of net-zero carbon. But cloud isn’t the only answer — we need to think about how we use the technology more broadly. Here are just some of the things we as technology leaders should consider:

These are just some of the things we need to consider, and I am sure many people are already aware and doing this. There are more options out there, but the most important thing we can do is start thinking about the various options we have at hand, make sure we are having these conversations and challenge the carbon efficiency of our technology use. At HSBC, we are committed to achieving net zero in our own operations and supply chain by 2030 or sooner – read more here.

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