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

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

'Simplicity is key': Behind the scenes at UK direct air capture start-up Mission Zero Technologies

More on Investment

'Alarming failures': Are asset managers stalling on their responsible investment promises?
Investment

'Alarming failures': Are asset managers stalling on their responsible investment promises?

Latest benchmark ranking of asset managers by ShareAction warns progress on sustainable investment is stagnating, even as climate risks intensify

Amber Rolt
clock 20 May 2025 • 8 min read
Financial firms join UK taskforce to help unlock climate investment in developing economies
Investment

Financial firms join UK taskforce to help unlock climate investment in developing economies

UK government's Emerging Markets and Developing Economies (EMDE) Investor Taskforce highlights potential for tenfold returns from backing climate adaptation and mitigation projects

Michael Holder and Patrick Brusnahan
clock 20 May 2025 • 2 min read
Marisa Drew: 'A great deal of power lies in the consumer wallet'
Investment

Marisa Drew: 'A great deal of power lies in the consumer wallet'

Standard Chartered's chief sustainability officer reflects on her move into sustainability from investment banking, how 'big ideas' are coming from unexpected places, and the co-benefits of electric driving

Stuart Stone
Stuart Stone
clock 20 May 2025 • 9 min read