$2 4tn investor group pressures HSBC to dump fossil fuels citywireselector.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from citywireselector.com Daily Mail and Mail on Sunday newspapers.
By Susanna Rust2021-01-11T13:52:00+00:00
Major asset managers Amundi and Man Group and a dozen other institutional investors have co-filed a shareholder resolution calling for HSBC to set out a plan for phasing out its exposure to fossil fuel assets, starting with coal.
The move comes after the bank in October announced an ambition to be a net-zero bank by 2050 at the latest, a pledge seen as important given HSBC’s large presence in Asia.
More than 100 individual shareholders plus European asset owners from Denmark, Sweden and the UK have joined Amundi and Man Group in co-filing the resolution .