HSBC will invest $90m (£44.9m) over five years in a global environmental efficiency programme (Geep), which will take on board emerging technology to help reduce its impact on the environment.

The Geep programme centres on the bank’s aim to develop a sustainable business and is a direct internal investment in activities that help create environmental efficiencies throughout the organisation.

Key to its aim is embracing new technology, including renewable energy technology, footprint management and innovation.

Geep will oversee pilots of innovative and new technologies, as well as environmental management systems and processes to optimise the efficiency of the bank’s operations.

The programme will be reviewed annually to consider the success of trials, innovation and business needs.

‘HSBC is determined to develop a sustainable business,’ said Simon Martin, HSBC head of group sustainability and corporate responsibility.

‘Our shareholders, customers and employees consider these issues to be important, and this clearly demonstrates our continuing progress in placing sustainability at the very core of how we do business.’

HSBC’s 315,000 employees will engage with Geep on an ongoing basis, and there will also be a focus on water and waste reduction.