The energy saved by the HSBC last year is enough to power 71 households for a year, the bank said.

In a statement, it said that in 2008 it reduced energy use by more than 350,000 kilowatt hours when compared to 2007. This saving equates to a reduction of over 300 tonnes of CO2 emissions.

“This significant achievement puts into practice HSBC’s philosophy and commitment to conserve the world’s resources and environment,” said Sally Robson, HSBC Malta’s chief operating officer and chairman of the HSBC Cares For The Environment Fund.

In order to reduce its carbon footprint, HSBC Malta embraces a 3Rs policy - Reduce, Reduce, and Renew. The emphasis is on Reduce.

* by conserving energy use on existing installations without major investment cost. Initiatives include a reduction of 22,340kWh of lighting at the operations centre car park. Staff also participated by following a set of energy-saving ‘best practice’ guidelines, and by putting forward their own ideas. Energy use at all offices was then monitored on a bi-monthly basis to enable all offices to evaluate their progress;

* by investing in energy reduction technologies, such as presence sensors, timer controls, variable drives, and building management system; and

* by investing in ‘renewable energy sources’. In 2008, a photovoltaic system was installed at the Attard branch, and solar water heaters were provided at the staff gym at the Operations Centre.

A number of initiatives were also taken to conserve water use. Half of Malta’s potable water is produced by reverse osmosis plants which take up a staggering five percent of the country’s total power generation. Among other initiatives, around three million litres of water were extracted from the storm water reservoir at the Operations Centre for second class use.

“I am proud that our HSBC climate champions in particular are taking a very active role in guiding our staff and the community to be aware of and to take action to protect our planet by adopting climate friendly practices. A number of other initiatives are planned for 2009,” said Ms Robson.