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How to reduce your carbon footprint

Protecting the planet for future generations is a goal we all share. One of the most positive actions that every person, organisation or community can take is to explore ways to reduce their carbon footprint.

What is a carbon footprint?

Your carbon footprint is a calculation of the amount of carbon dioxide and other harmful greenhouse gases that are released into the atmosphere as a result of your activities.

Virtually everything you do contributes to your carbon footprint in some way - from the food you eat and the clothes you wear to the vehicle you drive and how you spend your money.

This doesn't mean you need to overhaul your whole life to make a difference though. Many environmentally friendly actions can be achieved through fairly simple lifestyle changes which can also have a positive impact on your finances. 

Here are some helpful tips to get started…

Reduce your energy usage

Cutting down on your energy use is a great way to help the planet while also saving money. For example, only run your air conditioner when you're home and really need it. Dry your clothes on a line or rack rather than using a dryer, and consider investing in energy-saving appliances. These may be a little more expensive at the outset, but they should eventually pay for themselves by reducing your bills. 

Explore renewable energy options

There are a number of companies in Bermuda who specialize in renewable energy. Explore the different suppliers available and how they can provide you with a more affordable and clean way of getting your energy

Be selective about your shopping

Many of the items we buy everyday are designed to only last for a short time. Single-use plastics and disposable packaging can cause major damage to the environment, and more and more companies are exploring ways to phase out their usage.

Buying better quality products such as clothing and appliances can also have a positive impact on your carbon footprint, as they are likely to last longer before you need to replace them again. For a more immediate cost saving, you could also buy recycled or pre-owned goods where possible. 

Make home improvements

A properly insulated home with double or triple glazed windows should help you to maintain a comfortable temperature without relying so much on air conditioning. You could also install solar panels and solar water heaters to help generate your own renewable energy. Not only can this help you to save you money over time by bringing down your energy bills, it could also significantly increase the overall value of your property. 

Make energy efficient investments

If you're an investor, why not explore our sustainable fund options? These are carefully-selected investment options that enable you to support environmentally-friendly companies and initiatives. Our team of wealth experts are on hand to offer advice and recommendations on investment funds that meet our global ESG standards. 

HSBC Energy Efficiency and Electric Vehicle Loans

If you're looking at financing options for major purchases such as solar panels, electric cars and solar water heaters, our Energy Efficiency and Electric Vehicle loans can offer preferential repayment rates for a range of energy-saving solutions. Apply online today and save $200 in reduced fees.

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