HSBC sharpens Net Zero policy after shareholder resolution

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HSBC sharpens Net Zero policy after shareholder resolution

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A9EG4N Saudi Arabia.Oil storage tanks at Ras Tanura.It is theHQ of SaudiAramco theAmerican co, set up atthe timeof King Abdul Aziz(1938 | Alamy Stock Photo

HSBC has agreed to tighten its policies on climate transition and coal funding, in response to a shareholder motion calling on it to phase out fossil fuel financing. The move underlines the power investors have to accelerate change on environmental and social issues using shareholder votes, and could raise the bar for other banks.

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