HSBC pledges to phase out thermal coal financing

James Murray
clock • 5 min read
HSBC pledges to phase out thermal coal financing

Banking giant says it will end financing for coal fired power and thermal coal mining by 2030 in EU and OECD countries, and by 2040 for the rest of the world - but activist investors remain unimpressed

HSBC has become the latest banking giant to tighten its coal financing policies, today pledging to phase out the financing1 of coal-fired power and thermal coal mining by 2030 in EU and OECD markets, and...

To continue reading this article...

Join BusinessGreen

  • Enjoy exclusive news, insights and analysis from Europe’s leading source of information on the green economy and business.
  • Make smart, responsible business decisions with an eye on the latest regulatory and tech developments
  • Stay in the know with our overnight briefing, expertly curated help you run a competitive and sustainable business
  • Tap into our extensive archive of exclusive articles, news, analysis and guides
  • Access our Intelligence Reports and exclusive data-rich studies on business-critical aspects of the green economy (BG Advanced members only)
  • Choose from 3 paid membership levels or start a 7-day no strings trial

Join nowTry 7 day trial

 

Already a BusinessGreen member?

Login

More on Investment

Divestment Day: Pension funds, financial institutions and councils urged to stop investing in climate crisis

Divestment Day: Pension funds, financial institutions and councils urged to stop investing in climate crisis

UK Divest coalition leads latest round of action ramping up pressure on investors to stop backing fossil fuel projects

clock 24 March 2023 • 4 min read
'Decarbonisation isn't optional': Chemical firms urged to end reliance on fossil fuels

'Decarbonisation isn't optional': Chemical firms urged to end reliance on fossil fuels

ShareAction issues statement calling on Europe's largest chemical companies to ramp up decarbonisation efforts

clock 23 March 2023 • 4 min read
Investor group unveils guidance for net zero infrastructure investment

Investor group unveils guidance for net zero infrastructure investment

IIGCC expands Net Zero Investment Framework with addition of guidance on latest asset class

James Murray
clock 23 March 2023 • 3 min read