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

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

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

HSBC has announced a timeline to end financing for coal projects to achieve its goal of net zero carbon emissions in its loan portfolio by 2050.The London-based bank on Tuesday said it plans to reduce its exposure to coal mining and coal-fired power plants by at least a quarter by 2025 and halve it by 2030 from last year’s level.The latest announcement represents interim targets to phase out coal financing in the European Union and 38 Organisation for Economic Cooperation and Development (OECD)…

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By | 2021-12-14T12:15:11+00:00 December 14th, 2021|Business|Comments Off on HSBC to cut coal financing by half by 2030 as it eyes 2050 net zero carbon emission goal