HSBC has appointed Anjuli Pandit to the newly created position of global head of sustainable capital markets in the first major sustainability appointment since the bank's departure from the UN-sponsored Net-Zero Banking Alliance in mid-July.

Pandit will lead the sustainable capital markets team that sits in debt capital markets, which is led by global DCM head Adam Bothamley. 

The team will combine HSBC's capital markets and advisory sustainability product teams into a single unit that will support the bank's broader capital markets advisory offering, including equity capital markets and mergers and acquisitions in Asia and the Middle East. 

Pandit was previously a managing director and HSBC's head of sustainable debt markets for Europe, the Middle East and Africa, and the Americas. She joined the bank in October 2021 from BNP Paribas, where she led ESG for the bank's syndicate desk and previously led corporate sustainability for BNP Paribas in the UK. 

HSBC was the first UK-based bank to leave the NZBA and announced its exit on July 11 after an exodus of major international banks including North American, Japanese and Australian institutions from late 2024. 

HSBC in its interim 2025 report on July 30 reiterated its commitment to provide US$750bn–$1trn of sustainable finance by 2030 and achieve net-zero emissions by 2050. 

The bank's sustainability strategy has seen several changes against the backdrop of a broader restructuring from October that combined the bank's commercial and investment banking operations in a major overhaul under CEO Georges Elhedery designed to shed more than 15,000 jobs.  

In February, HSBC pushed back its target of achieving net zero in its supply chain by 20 years to 2050 after admitting that progress in reducing emissions was only on track to meet 40% of its 2030 target due to the slow pace of decarbonisation in some industries.

In March, the bank reduced its ESG financing and solutions teams after downgrading the chief sustainability officer’s role. 

Natalie Blyth was appointed in April as global head of sustainable finance and transition at its corporate and institutional banking division, which is seen as key to HSBC's net-zero ambitions. 

Despite a 19% year-on-year increase to US$54.1bn of sustainable finance in the first half of 2025 that was outlined in the interim report, HSBC continues to face scrutiny for a lack of transparency in the breakdown of sustainable finance activities and its recent strategic shifts. 

A review of HSBC's 2030 interim financed emissions targets and related policies is expected to conclude in the second half of 2025.