Financial News
Shareholders have filed a resolution to push HSBC to commit to cutting fossil fuel investments
HSBC has made no commitment to reduce funding for fossil fuels, in particular coal, which has risen every year since 2016 Sean Gallup/Getty Images By Monday January 11, 2021 1:08 pm
Fifteen institutional investors with a combined $2.4tn under management have filed a climate change resolution with HSBC calling for the bank to publish targets for reducing its exposure to coal in line with the Paris climate goals.
The move has been coordinated by responsible investment NGO ShareAction with backing from investors including asset manager Amundi and hedge fund Man Group.