HSBC has forged a partnership with Google Cloud to provide financial support to companies dedicated to advancing climate mitigation efforts through technology solutions. This collaboration aims to bolster firms selected by the U.S. tech giant for its Google Cloud Ready-Sustainability (GCR-Sustainability) program.
The GCR-Sustainability initiative is designed to cater to the needs of customers in their environmental, social, and governance (ESG) journeys. It aims to assist companies in achieving various objectives, including reducing carbon emissions, enhancing sustainability throughout supply chains. The program also facilitates the processing of ESG data to gauge performance and identify climate-related risks.
HSBC and Google Collab Fuels Climate Solutions
Through the partnership, Google Cloud intends to expand its roster of partnerships within the GCR-Sustainability program. Currently, it features notable companies such as Airbus, Planet Labs, and Watershed, among others, within the next two years.
Furthermore, the collaboration will enable HSBC to allocate funding to selected companies, aligning with its commitment to invest $1 billion in early-stage climate technology ventures. These cover various sectors, including electric vehicles, battery storage, and sustainable food systems, by 2030.
Companies selected to participate in the GCR-Sustainability program undergo a rigorous validation process conducted by Google. The tech giant assesses the quality of the technology under development and its alignment with climate science and expertise.
Google also evaluates the technology’s market traction among customers as part of this process.
Members of the GCR-Sustainability program will gain access to venture debt financing options provided by HSBC’s climate tech finance team. The inaugural financing package under this agreement will be directed to LevelTen Energy, a platform focused on clean energy transactions and data, enabling clients to access renewable transaction infrastructure.
Natalie Blyth, HSBC’s global head of commercial banking sustainability, emphasized the importance of partnerships and innovative financing solutions. This is even more particularly crucial amidst a period of slowing down investment in climate tech startups last year.
In Q3 2023, climate tech startups specializing in carbon and emissions technology secured an impressive $7.6 billion in venture capital (VC) funding. This figure exceeded the sector’s previous record by $1.8 billion, defying the downward trend seen in other sectors.
Blyth further noted that:
“By combining financing support, cloud technologies and connectivity to partners across our combined footprints, we will help climate tech vendors accelerate their growth and develop the solutions we urgently need at scale.”
Empowering Climate Innovators
Justin Keeble, Google Cloud’s managing director for global sustainability, underscored the necessity for technology providers to bring impactful solutions for climate action. Keeble noted that access to finance is crucial for many of these companies, making the partnership with HSBC particularly valuable.
HSBC’s initiative in London builds upon its goal of facilitating $750 billion to $1 trillion of investments and sustainable financing by 2030. Britain’s largest bank unveiled its first net zero transition plan the previous month. The bank disclosed providing $210.7 billion to support environmental and social activities since setting the target in 2020.
The net zero transition plan also outlines HSBC’s intention to gradually decrease financing provided to carbon-intensive sectors, aligning with efforts to limit global temperature rise to below 1.5°C.
The bank has established 2030 targets for industries such as oil and gas, power and utilities, transport, and heavy industry. Thermal coal mining and iron and steel manufacturing are part of the targeted industries. HSBC will disclose its progress towards these targets annually.
Advancing Climate Tech Solutions
The collaboration with Google’s cloud computing division comes on the heels of HSBC’s acquisition of the UK branch of Silicon Valley Bank (SVB) last year, a move facilitated by the UK government to prevent ripple effects in the startup ecosystem.
The availability and impact of venture debt remain significant concerns for policymakers. While SVB played a major role in this space, traditional lenders have been cautious about entering, citing capital risks.
HSBC spokesperson Richards noted that the bank has exceeded internal targets on this front and expressed optimism that the partnership and the launch of HSBC Innovation Banking would expedite progress toward the more ambitious goal of transitioning 1.3 million clients to net zero by 2050.
According to research from the International Energy Agency, almost 50% of the emissions reductions needed to achieve net zero by 2050 will rely on currently unscaled technologies.
- RELATED: IEA’s 2023 Net Zero Roadmap
HSBC intends to facilitate connections between its existing clients and climate tech firms to facilitate the transition over time.
Keeble emphasized the crucial role of technology and finance in driving climate action, expressing HSBC’s alignment with Google’s perspective that sustainability challenges are fundamentally data challenges.
The collaboration between HSBC and Google Cloud signifies a significant step towards fostering climate tech innovation. Through financing and technological support, they aim to accelerate the development and adoption of impactful solutions, crucial for combating climate change and achieving sustainability goals.
The post HSBC and Google to Deploy $1B in Climate Tech Financing appeared first on Carbon Credits.
Carbon Footprint
Climate Impact Partners Unveils High-Quality Carbon Credits from Sabah Rainforest in Malaysia
The voluntary carbon market is changing. Buyers are no longer focused only on large volumes of cheap credits. Instead, they want projects with strong science, long-term monitoring, and clear proof that carbon has truly been removed from the atmosphere. That shift is drawing more attention to high-integrity, nature-based projects.
One project now gaining that spotlight is the Sabah INFAPRO rainforest rehabilitation project in Malaysia. Climate Impact Partners announced that the project is now issuing verified carbon removal credits, opening access to one of the highest-quality nature-based removals currently available in the global market.
Restoring One of the World’s Richest Rainforest Ecosystems
The project is located in Sabah, Malaysia, on the island of Borneo. This region is home to tropical dipterocarp rainforest, one of the richest forest ecosystems on Earth. These forests store huge amounts of carbon and support extraordinary biodiversity. Some dipterocarp trees can grow up to 70 meters tall, creating habitat for orangutans, pygmy elephants, gibbons, sun bears, and the critically endangered Sumatran rhino.
However, the forest within the INFAPRO project area was not intact. In the 1980s, selective logging removed many of the most valuable tree species, especially large dipterocarps. That caused serious ecological damage. Once the key mother trees were gone, natural regeneration became much harder. Young seedlings also had to compete with dense vines and shrubs, which slowed the forest’s recovery.
To repair that damage, the INFAPRO project was launched in the Ulu-Segama forestry management unit in eastern Sabah.
- The project has restored more than 25,000 hectares of logged-over rainforest.
- It was developed by Face the Future in cooperation with Yayasan Sabah, while Climate Impact Partners has supported the project and helped bring its credits to market.
Why Sabah’s Carbon Removals are Attracting Attention
What makes Sabah INFAPRO different is not only the size of the restoration effort. It is also the way the project measured carbon gains.

Many forest carbon projects issue credits in annual vintages based on year-by-year growth estimates. Sabah INFAPRO followed a different path. It used a landscape-scale monitoring system and waited until the forest moved through its strongest natural growth period before issuing removal credits.
- This approach gives the credits more weight. Rather than relying mainly on short-term annual estimates, the project measured carbon sequestration over a longer period. That helps show that the forest delivered real, sustained, and measurable carbon removal.
The scientific backing is also unusually strong. Since 2007, the project has maintained nearly 400 permanent monitoring plots. These plots have allowed researchers, independent auditors, and technical specialists to observe the full growth cycle of dipterocarp forest recovery. The result is a large body of field data that supports carbon calculations and strengthens confidence in the credits.
In simple terms, buyers are not just being asked to trust a model. They are being shown years of direct forest monitoring across the project landscape.
Strong Ratings Support Market Confidence
Independent assessment has also lifted the project’s profile. BeZero awarded Sabah INFAPRO an A.pre overall rating and an AA score for permanence. That places the project among the highest-rated Improved Forest Management, or IFM, projects in the world.
The rating reflects several important strengths. First, the project has very low exposure to reversal risk. Second, it has a long and stable operating history. Third, its measured carbon gains align well with peer-reviewed ecological research and independent analysis.
These points matter in today’s market. Buyers have become more cautious after years of debate over the quality of some forest carbon credits. As a result, they now look more closely at durability, transparency, and third-party validation. Sabah INFAPRO’s rating helps answer those concerns and makes the project more attractive to companies looking for credible carbon removal.
The project is also registered with Verra’s Verified Carbon Standard under the name INFAPRO Rehabilitation of Logged-over Dipterocarp Forest in Sabah, Malaysia. That adds another level of market recognition and verification.
A Wider Model for Rainforest Recovery
Sabah INFAPRO also shows why high-quality nature-based projects are about more than carbon alone. The restoration effort supports broader ecological recovery in one of the world’s most important rainforest regions.
Climate Impact Partners said it has worked with project partners to restore degraded areas, run local training programs, carry out monthly forest patrols, and distribute seedlings to support rainforest recovery beyond the project boundary. These efforts help strengthen the wider landscape and expand the project’s environmental impact.
That broader value is becoming more important for buyers. Companies increasingly want projects that support biodiversity, ecosystem health, and local engagement, along with carbon removal. Sabah INFAPRO offers that mix, making it a stronger fit for the market’s shift toward higher-integrity credits.

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Carbon Footprint
Bitcoin Falls as Energy Prices Rise: Why Crypto Is Now an Energy Market Story
Bitcoin’s recent drop below $70,000 reflects more than short-term market pressure. It signals a deeper shift. The world’s largest cryptocurrency is becoming increasingly tied to global energy markets.
For years, Bitcoin has moved mainly on investor sentiment, adoption trends, and regulation. Today, another force is shaping its direction: the cost of energy.
As oil prices rise and electricity markets tighten, Bitcoin is starting to behave less like a tech asset and more like an energy-dependent system. This shift is changing how investors, analysts, and policymakers understand crypto.
A Global Power Consumer: Inside Bitcoin’s Energy Use
Bitcoin depends on mining, a process that uses powerful computers to verify transactions. These machines run continuously and consume large amounts of electricity.
Data from the U.S. Energy Information Administration shows Bitcoin mining used between 67 and 240 terawatt-hours (TWh) of electricity in 2023, with a midpoint estimate of about 120 TWh.

Other estimates place consumption closer to 170 TWh per year in 2025. This accounts for roughly 0.5% of global electricity demand. Recently, as of February 2026, estimates see Bitcoin’s energy use reaching over 200 TWh per year.
That level of energy use is significant. Global electricity demand reached about 27,400 TWh in 2023. Bitcoin’s share may seem small, but it is comparable to the power use of mid-sized countries.
The network also requires steady power. Estimates suggest it draws around 10 gigawatts continuously, similar to several large power plants operating at full capacity. This constant demand makes energy costs central to Bitcoin’s economics.
When Oil Rises, Bitcoin Falls
Bitcoin mining is highly sensitive to electricity prices. Energy is the highest operating cost for miners. When power becomes more expensive, profit margins shrink.
Recent market movements show this link clearly. As oil prices rise and inflation concerns persist, energy costs have increased. At the same time, Bitcoin prices have weakened, falling below the $70,000 level.

This is not a coincidence. Studies show a direct relationship between Bitcoin prices, mining activity, and electricity use. When Bitcoin prices rise, more miners join the network, increasing energy demand. When energy costs rise, less efficient miners may shut down, reducing activity and adding selling pressure.
This creates a feedback loop between crypto and energy markets. Bitcoin is no longer driven only by demand and speculation. It is now influenced by the same forces that affect oil, gas, and power prices.
Cleaner Energy Use Is Growing, but Fossil Fuels Still Matter
Bitcoin’s environmental impact depends on its energy mix. This mix is improving, but it remains uneven.
A 2025 study from the Cambridge Centre for Alternative Finance found that 52.4% of Bitcoin mining now uses sustainable energy. This includes both renewable sources (42.6%) and nuclear power (9.8%). The share has risen significantly from about 37.6% in 2022.
Despite this progress, fossil fuels still account for a large portion of mining energy. Natural gas alone makes up about 38.2%, while coal continues to contribute a smaller share.

This reliance on fossil fuels keeps emissions high. Current estimates suggest Bitcoin produces more than 114 million tons of carbon dioxide each year. That puts it in line with emissions from some industrial sectors.
The shift toward cleaner energy is real, but it is not complete. The pace of change will play a key role in how Bitcoin fits into global climate goals.
Bitcoin’s Climate Debate Intensifies
Bitcoin’s growing energy demand has placed it at the center of ESG discussions. Its impact is often measured through three key areas:
- Total electricity use, which rivals that of entire countries.
- Carbon emissions are estimated at over 100 million tons of CO₂ annually.
- Energy intensity, with a single transaction using large amounts of power.

At the same time, the industry is evolving. Mining companies are adopting more efficient hardware and exploring new energy sources. Some operations use excess renewable power or capture waste energy, such as flare gas from oil fields.
These efforts show progress, but they do not fully address the concerns. The gap between Bitcoin’s energy use and its environmental impact remains a key issue for investors and regulators.
- MUST READ: Bitcoin Price Hits All-Time High Above $126K: ETFs, Market Drivers, and the Future of Digital Gold
Bitcoin Is Becoming Part of the Energy System
Bitcoin mining is now closely integrated with the broader energy system. Operators often choose locations based on access to cheap or excess electricity. This includes areas with strong renewable generation or underused energy resources.
This integration creates both opportunities and challenges. On one hand, mining can support energy systems by using power that might otherwise go to waste. It can also provide flexible demand that helps stabilize grids.
On the other hand, it can increase pressure on local electricity supplies and extend the use of fossil fuels if cleaner options are not available.
In the United States, Bitcoin mining could account for up to 2.3% of total electricity demand in certain scenarios. This highlights how quickly the sector is scaling and how closely it is tied to national energy systems.
Energy Markets Are Now Key to Bitcoin’s Future
Looking ahead, the connection between Bitcoin and energy is expected to grow stronger. The network’s computing power, or hash rate, continues to reach new highs, which typically leads to higher energy use.
Electricity will remain the main cost for miners. This means Bitcoin will continue to respond to changes in energy prices and supply conditions. At the same time, governments are starting to pay closer attention to crypto’s environmental impact, which could shape future regulations.

Some forecasts suggest Bitcoin’s energy use could rise sharply if adoption increases, potentially reaching up to 400 TWh in extreme scenarios. However, cleaner energy systems could reduce the carbon impact over time.
Bitcoin is no longer just a financial asset. It is also a large-scale energy consumer and a growing part of the global power system.
As a result, understanding Bitcoin now requires a broader view. Energy prices, electricity markets, and carbon trends are becoming just as important as market demand and investor sentiment.
The message is clear. As energy markets move, Bitcoin is likely to move with them.
The post Bitcoin Falls as Energy Prices Rise: Why Crypto Is Now an Energy Market Story appeared first on Carbon Credits.
Carbon Footprint
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