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HSBC puts $100 million into climate change

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International financial giant HSBC Group will funnel $100 million through four conservation organizations over the next five years in an effort to mitigate the impact of global climate change.

The new HSBC Climate Partnership, which includes the bank, the Climate Group, Earthwatch Institute, Smithsonian Tropical Research Institute and WWF, aims to reduce the effects of climate change on the world’s major cities, water sources, forests and people.

The effort will focus on Hong Kong, London, Mumbai, New York and Shanghai, as well as some of the world’s largest rivers, including the Amazon, Ganges, Thames and Yangtze.

Research funding will support “climate champions” worldwide who will conduct research and funnel the findings back into their communities.

And the partnership will conduct what it says is the largest-ever field experiment on the forests of the world to measure the impact of climate change.

HSBC hopes its mammoth donation will increase the capacity of the four grantees and help them extend their reach to new countries and populations, it says.

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