HSBC Shareholders Ask Bank to Cut Fossil-Fuel Lending Exposure
Alastair Marsh, Bloomberg News A bucket-wheel reclaimer stands next to a pile of coal at the Port of Newcastle in Newcastle, New South Wales, Australia, on Monday, Oct. 12, 2020. Prime Minister Scott Morrison warned last month that if power generators don t commit to building 1,000 megawatts of gas-fired generation capacity by April to replace a coal plant set to close in 2023, the pro fossil-fuel government would do so itself. Photographer: David Gray/Bloomberg , Bloomberg
(Bloomberg) A group of HSBC Holdings Plc shareholders have filed a resolution urging the bank to cut its support to the fossil-fuel industry.