HSBC pledges to cut off coal financing by 2040 following investor pressure
Business Green
MARCH 11, 2021
Banking giant commits to ending support for coal by 2040 after reaching compromise with shareholders. The board-backed proposal commits the bank to phasing out all project finance, corporate finance, and underwriting of coal-fired power and thermal coal mining by 2030 in the EU and OECD, and by 2040 globally.
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