Most Asian businesses are planning to accelerate their climate transition over the next three years, according to the report, "HSBC Sustainability Pulse Survey 2025", released by the global financial services group.
70% plan to accelerate their climate transition over the next three years, with 31% planning significant acceleration, says the report. Smaller companies are especially looking to catch up with larger enterprises by allocating more capital.
Regional variations across Asia
Regional variations are pronounced. Implementation progress varies significantly across markets and sectors. Singapore leads regional performance with 84% having established or implemented plans, well above the 58% regional average. Indonesia (59%) and Singapore (55%) show the highest rates of planned significant acceleration.
The lower regional average can be attributed to markets such as Hong Kong and Mainland China, where only 34% and 49% respectively have established climate transition plans. However, these markets show strong development momentum, with 49% of Hong Kong companies and 35% of Chinese companies currently developing or implementing plans.
Acceleration patterns also differ, with Indonesia, India, and Australia showing the strongest commitment to speeding up their transition efforts, while Hong Kong’s progress remains more measured.
The proportion of companies accelerating their plans in Indonesia is 93%; India 91%; and Australia, 87%; compared to a lower proportion in Hong Kong (54%).
Other key findings listed in the HSBC report are:
- 52% of Asian businesses surveyed have fully implemented or are reviewing climate transition plans. A third (35%) are currently implementing or developing their plans, indicating a growing focus on the climate transition in Asia. 13% have not started on their transition yet.
- Large companies ($2bn revenue or higher) show stronger implementation rates, with 58% having established and implemented plans compared to 38% of smaller companies ($50-500m revenue).
- 5% of Asian companies surveyed believe climate transition offers a commercial opportunity, with 59% considering it a key strategic focus area, aligned with the global average.
- Nearly twice as many Asian companies plan to allocate >10% CAPEX to the climate transition over the next three years (26%) compared to today (15%).
The report is based on online surveys conducted with two audiences from the 17 to 26 of September 2025: business decision-makers with responsibility over sustainability strategy in Australia (n=100), Hong Kong (n=250), India (n=100), Indonesia (n=100), mainland China (n=251), Singapore (n=100), and institutional investors based in Asia (n=202).