HSBC to face shareholder heat on fossil fuels in AGM


LONDON: Major HSBC shareholders are calling on Europe’s biggest bank to toughen its commitment to cut lending linked to fossil fuels and to turn its climate “ambitions” into targets.

Investors collectively managing some US$2.4 trillion in assets have filed the resolution to be voted on at HSBC’s AGM after HSBC in October stated its ambition to get to net zero carbon emissions by 2050.

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