HSBC has launched a free online tool to help businesses gauge their sustainability status.

The company says the unveiling of its new ‘Sustainability Tracker’ comes as part of the bank’s commitment to help businesses in the Isle of Man and the Channel Islands get started or improve their sustainability journeys.

The free-to-use online tool enables businesses to assess their current sustainability status and to prioritise their next steps through a tailored self-assessment process.

This, according to the bank, will help businesses across the islands to understand how sustainable they are today.

The launch of the tool comes as more and more small and medium size enterprises (SMEs) make efforts to adjust their business models towards more sustainable practices.

However, access to dedicated tools to facilitate climate action can be a barrier, the bank says.

Businesses are also faced with increasing pressure from stakeholders to integrate environmental, social and governance (ESG) reporting into their strategies and business models.

According to HDBC, 89% of investors say it is important or vitally important for companies they invest in to be preparing for the effects of climate change.

Aline Ayotte, HSBC’s Head of Commercial Banking for the Isle of Man and the Channel Islands, said: ‘Businesses across the Islands are recognising the opportunity that comes from being more sustainable and are seeking to demonstrate their ESG credentials to customers, investors, staff, and other stakeholders.

‘This is particularly the case against the backdrop of all three islands having net zero commitments.

‘Our aim is to help clients and businesses to achieve their sustainability targets, and the launch of the HSBC Sustainability Tracker is one way we are able to do this.’

According to HSBC, the Sustainability Tracker builds on the bank’s ongoing commitment to supporting businesses on their ESG journeys.

Other products sold by the company include sustainable loans offering and green, social and sustainable bonds.

You can access the free tracker online by visiting