FORM 6-K

                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                        Report of Foreign Private Issuer
                    Pursuant to Rule 13a - 16 or 15d - 16 of
                      the Securities Exchange Act of 1934

                           For the month of March, 2008

                               HSBC Holdings plc

                              42nd Floor, 8 Canada
                        Square, London E14 5HQ, England


(Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F).

                          Form 20-F X Form 40-F ......

(Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934).

                                Yes....... No X


(If "Yes" is marked, indicate below the file number assigned to the registrant
in connection with Rule 12g3-2(b): 82- ..............)




HSBC ENVIRONMENTAL INFRASTRUCTURE FUND PARTNERS WITH THE CARBON TRUST

HSBC Environmental Infrastructure Fund ('the Fund') has committed up to GBP18
million to acquire 49 per cent of, and provide development funding to,
Partnerships for Renewables ('PfR'), a venture created by Carbon Trust
Enterprises to develop renewable energy projects on public sector land.

The Fund will also make a GBP30 million revolving  construction capital facility
available to fund an estimated  GBP100  million of equity  required to build out
the renewable energy projects. Partnerships for Renewables aims to develop a 500
megawatt  portfolio of  renewables  projects on public sector land across the UK
during the next five years.

Notes to editors:

HSBC Environmental Infrastructure Fund
HSBC Environmental Infrastructure Fund is managed by HSBC Specialist Fund
Management Limited ('HSFML'), which is authorised and regulated by the Financial
Services Authority and is a wholly-owned subsidiary of HSBC Holdings plc. HSBC
Holdings plc serves over 128 million customers worldwide through around 10,000
offices in 83 countries and territories in Europe, the Asia-Pacific region, the
Americas, the Middle East and Africa. With assets of some US$2,354 billion at 31
December 2007, HSBC is one of the world's largest banking and financial services
organisations. HSBC is marketed worldwide as 'The world's local bank'.

Partnerships for Renewables ('PfR')
Partnerships for Renewables was set up by Carbon Trust Enterprises in 2006 to
work in partnership with the public sector to develop, construct and operate
renewable energy projects

The Carbon Trust
The Carbon Trust is an independent company set up by government in response to
the threat of climate change, to accelerate the move to a low carbon economy by
working with organisations to reduce carbon emissions and develop commercial low
carbon technologies.

Carbon Trust Enterprises
Carbon Trust Enterprises Limited is a separate, commercial entity, which
benefits from being a subsidiary of the Carbon Trust.

For further information on The Carbon Trust, Carbon Trust Enterprises or
Partnerships for Renewables contact:

The Carbon Trust press office on 020 7544 3100.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.

                               HSBC Holdings plc

                                                By:
                                                Name:  P A Stafford
                                                Title: Assistant Group Secretary
                                                Date:  19 March, 2008