HSBC tables company vote on phasing out financing of coal

HSBC has bowed to investor pressure by ramping up its climate commitments and tabling a shareholder vote on plans to phase out coal financing by 2040.withdraw their own environment resolutionThe investor group – which included Europe’s largest asset manager, Amundi, and Man Group, one of the world’s biggest publicly-listed hedge funds – put pressure on the bank HSBC to reduce those loans and underwriting services offered to clients that relied heavily on fossil fuels.

by 2040. Missed that out in your title. Why are they financing coal in the first place? Don't they have to launder some blood money for a Mexican drug cartel?

Great opportunity for our government to invest in retraining/education in renewables sector rather than throwing money in half price flights and pleading with regular folk to go on holidays they can’t afford.

Why? So everyone pays more for heat, electricity?

More good news please(((

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Source: The Guardian - 🏆 84. / 53 Read more »