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HSBC Launches a Thermal Coal Phase-out Policy

Date:

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pixabay. HSBC Launches a Thermal Coal Phase-out Policy

Autor: IreneValiente

  1. The policy will mean HSBC phasing out finance to clients whose transition plans are not compatible with HSBC’s net zero by 2050 target
  2. "Client transition plans will be assessed annually, based on a range of factors including: level of ambition to reduce greenhouse gas emissions; clarity and credibility of transition strategy"
  3. Given HSBC’s substantial footprint across Asia, it recognized it has "a critical role to play in helping to finance the region’s energy transition from coal to clean"