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HSBC partners Google Cloud to back climate tech firms

HSBC has joined forces with Google Cloud to offer venture debt financing options to climate technology companies.

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HSBC partners Google Cloud to back climate tech firms

Editorial

This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.

The Google Cloud Ready - Sustainability validation programme is designed for companies with solutions available on Google Cloud that help customers achieve sustainability goals including carbon emission reduction, increased sustainability in value chains, and processing of ESG data to help identify climate risks.

Under the new partnership, these firms will be offered access to HSBC’s specialist climate tech finance team to explore venture debt financing options.

The deal has already seen HSBC put together a financing package for LevelTen Energy, which provides renewable transaction infrastructure for buyers, sellers, advisors and financiers in the clean energy economy.

Natalie Blyth, global head, commercial banking sustainability, HSBC, says: “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.”

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