HSBC Bank Canada says it has purchased enough renewable energy certificates to offset 100% of the electricity it uses in its British Columbia branches and technology centres. The certificates were bought in celebration of the Canadian Environment Week.

This will not be the only purchase of its kind: in December 2004, HSBC made a commitment to become carbon neutral, making them the first major bank to do so. HSBC says it will purchase 11,000 MWh of renewable energy certificates every year. The certificates, from 3 Phases Energy Services, will support the production of clean electricity generated by wind resources in Alberta.

In the name of carbon neutrality HSBC will reduce energy consumption, buy green electricity and offset the remaining carbon dioxide by investing in carbon credit of allowance projects.

This is not the first announcement of its kind from HSBC. In 2002, it announced the “Investing in Nature” partnership. The five-year program provided monetary support to three leading environmental charities. The Earthwatch Institute, one of the charities which received money, runs the Employee Environmental Fellowship Programme, which encourages HSBC employees to aid in field research.