September 4

HSBC concedes to investor pressure over climate change

first_imgThe bankin giant said today it will retire from funding both coal-fired power and thermal coal mining across the EU by 2030, and all other markets by 2040. The investor group worth $2.4 trillion in assets, including asset manager Amundi and hedge fund Man Group, put pressure on the bank to cut loans and funding services offered to clients reliant on fossil fuels. The pledge will go to a vote at the bank’s annual meeting in May and will be binding if it receives 75 per cent approval from shareholders. Pressure group ShareAction rallied investors at the beginning of the year to pursue a shareholder vote that targeted HSBC’s fossil fuel financing.   Should the pledge be approved by shareholders, the bank will report on its progress annually, starting this year. More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgWhy people are finding dryer sheets in their mailboxesnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org Show Comments ▼ whatsapp “Today’s announcement shows that robust shareholder engagement can deliver concrete results and sets an important precedent for the banking industry,” senior campaign manager at ShareAction, Jeanne Martin said. whatsapp Share Also Read: HSBC concedes to investor pressure over climate change HSBC has given in to investor pressure by tabling plans to phase out its financing of coal power by 2040, staving off backlash over the bank not being aligned with its climate ‘ambitions’. In October, HSBC vowed to become net carbon neutral by 2030, in addition to making its financing commitments net zero by 2050. HSBC concedes to investor pressure over climate change Also Read: HSBC concedes to investor pressure over climate change by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeLivestlyPlugs Have These Two Holes At The End, Here’s WhyLivestlyBlood Pressure Solution4 Worst Blood Pressure MedsBlood Pressure SolutionBrake For ItSay Goodbye: These Cars Will Be Discontinued In 2021Brake For ItMoneyWise.comMechanics Say You Should Avoid These Cars In 2021  MoneyWise.comNational Injury BureauJury Finds Roundup Responsible For Lymphoma | Bayer To Pay $10 BillionNational Injury BureauDaily Funny40 Brilliant Life Hacks Nobody Told You AboutDaily FunnyFactableAluminum Foil Uses You’ll Want to KnowFactableFungus EliminatorIf You Have Toenail Fungus Try This TonightFungus EliminatorThe Legacy ReportMan Who Predicted 2020 Crash 45 Days Early Issues Next Major WarningThe Legacy Report Millie Turner Thursday 11 March 2021 12:25 pm Tags: Climate change HSBC Holdingslast_img

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Posted September 4, 2021 by admin in category "bwerfhuce

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