Uh...no. First of all, you say 'code' and 'starts the code' implying that your HTML isn't just data and presentation, but actually 'runs'. HTML doesn't 'run'. You may have javascript or whatever in your page. 2nd, and image cannot, in and of itself, contain 'code'. it is a binary file that makes picture and ONLY a picture. The image TAG associated with the HTMl may have a javascript EVENT attached to it, and that javascript may run when you click the image, but the code does not exist 'embedded' in the image.
Here's what you want:
<IMG src="url_to_your_image" onclick="javascript_function_to_run()">
Here's what you want:
<IMG src="url_to_your_image" onclick="javascript_function_to_run()">