HSBC is following up on its pledge to reduce funding for coal projects. Photo: Sam Tsang
HSBC is following up on its pledge to reduce funding for coal projects. Photo: Sam Tsang

HSBC to cut coal financing by half by 2030 as it eyes 2050 net zero carbon emission goal

  • HSBC plans to slash lending to coal projects by at least 25 per cent by 2025 and will increase it to 50 per cent by 2030 from last year’s level
  • The UK-based lender said in March it would phase out financing for coal related projects in the EU and OECD by 2030, and the rest of the world by 2040

Knowledge |   China and climate change
HSBC is following up on its pledge to reduce funding for coal projects. Photo: Sam Tsang
HSBC is following up on its pledge to reduce funding for coal projects. Photo: Sam Tsang
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