A promotional event co-organised by HSBC Bank and GEFF in Armenia entitled “Solar Energy for Your Business” was held in Yerevan on 8 February. The main topics discussed were the causes and consequences of climate change, in addition to discussing the role of businesses in this context and the opportunities available.
At the event, the benefits of utilising renewable and solar energy were presented to local businesses as well as ways to enhance their energy efficiency. Furthermore, financing solutions offered within the framework of the EBRD were explained.
“Energy-efficient business solutions create new opportunities for businesses to reduce expenses, while mitigating climate change risks. Therefore, it is important to acquire knowledge that will contribute to the best use of the potential of PV plants for business activities,” said Mikhayil Gevorgyan, PFI Relationship Manager of GEFF in Armenia.
During the event, attendees received practical guidance from industry experts on operating photovoltaic plants, ensuring their sustainability, and other technical aspects.
According to the Head of Wholesale Banking of HSBC Bank, Martin Martirosyan, an increasing number of businesses now recognise the vital role of renewable energy in reducing CO2 emissions and thus limiting human impact on the environment: “It is obvious that events such as this one attract the interest of businesses and contribute to the formation of a market where preference is given to more sustainable ways of doing business. HSBC has made bold sustainability commitments globally. HSBC in Armenia is also committed to helping its customers transition to a low-carbon and sustainable economy. To achieve this goal, we provide financing options that support the adoption of renewable energy and enhance the energy efficiency of our clients.”
HSBC Holdings plc
HSBC Holdings plc, the parent company of HSBC, is headquartered in London. HSBC serves customers worldwide from offices in 63 countries and territories in its geographical regions: Europe, Asia, North America, Latin America, and Middle East and North Africa. With assets of US$2,992bn at 30 September 2022, HSBC is one of the world’s largest banking and financial services organisations.
HSBC Bank Armenia
HSBC Bank Armenia CJSC was established in 1996. The bank is a wholly owned subsidiary of HSBC Group. HSBC Bank Armenia serves around 30 000 customers through seven offices located in Yerevan and around 310 employees. As of 31 December 2022, the bank has assets of AMD 321 billion including the ones, allocated with the mediation of the HSBC Bank plc, London. The bank is regulated by the Central Bank of Armenia.
GEFF in Armenia
GEFF in Armenia is a product of the EBRD and is supported by the Green Climate Fund (GCF) and the Scaling-up Renewable Energy Program (SREP) of the Climate Investment Funds (CIF).