HSBC secures shareholder backing for coal financing phase-out plan

Cecilia Keating
clock • 4 min read

Campaigners welcome AGM vote but warn bank's commitment must be followed up by robust framework for delivering global 2040 coal financing phase out

HSBC shareholders have approved the bank's plans to phase out financing for the coal industry in developed nations by the end of the decade and by 2040 worldwide, following growing pressure for more ambitious...

To continue reading this article...

Join BusinessGreen

In just a few clicks you can start your free BusinessGreen Lite membership for 12 months, providing you access to:

  • Three complimentary articles per month covering the latest real-time news, analysis, and opinion from Europe’s leading source of information on the Green economy and business
  • Receive important and breaking news stories via our daily news alert
  • Our weekly newsletter with the best of the week’s green business news and analysis

Join now

 

Already a BusinessGreen member?

Login

Cecilia Keating
Author spotlight

Cecilia Keating

View profile
More from Cecilia Keating

We need the transition to a low-carbon economy to reverse historic injustices

Why the Women in Green Business Awards is more important than ever

More on Investment

BSI unveils UK investment standards to combat 'greenwashing' in nature markets
Investment

BSI unveils UK investment standards to combat 'greenwashing' in nature markets

Government-backed Nature Investment Standards aim to boost investor confidence in nature-based carbon credits, biodiversity net gain projects, and farming subsidy schemes

Michael Holder
Michael Holder
clock 26 March 2026 • 2 min read
Church of England Pensions Board to vote against 'climate backtracking banks'
Investment

Church of England Pensions Board to vote against 'climate backtracking banks'

Manager of £3.4bn-worth of funds reveals plan to vote against reappointment of directors at leading banks over climate risk concerns

Michael Holder
Michael Holder
clock 26 March 2026 • 5 min read
Draft guidelines unveiled to help unlock finance for industrial decarbonisation
Investment

Draft guidelines unveiled to help unlock finance for industrial decarbonisation

Voluntary Transition Finance Guidelines aim to provide greater clarity and consistency for investors to help them support 'real economy decarbonisation'

Michael Holder
Michael Holder
clock 26 March 2026 • 4 min read