HSBC climate credentials in firing line as asset managers file shareholder resolution
Investors call for decarbonisation plans
The bank has been urged to set a clear timetable for emission reductions
HSBC is facing a shareholder resolution filed in co-ordination with 117 shareholders, including Man Group, Sarasin & Partners and Amundi, targeting the bank s substantial exposure to fossil fuel assets and its compliance with the Paris Climate goals.
The investors, which together represent $2.4trn in AUM, are calling on HSBC to publish a strategy and targets to reduce its exposure to fossil fuel assets, starting with coal, on a timeline consistent.
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