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HSBC delays net-zero emissions target by 20 years

HSBC delays net-zero emissions target by 20 years


Published on 2025-02-19 09:00:51 - Reuters
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  • HSBC is ditching its target of reaching net-zero carbon emissions across its business by 2030 because of slow change in the economy, the bank said on Wednesday, compounding fears from campaigners that the world's biggest lenders are rowing back on climate pledges.

HSBC has delayed its review of climate emissions targets and policies until 2025, as announced in its latest annual report. This decision comes amidst a backdrop of increasing regulatory scrutiny and pressure from environmental groups to reduce the bank's exposure to fossil fuels. The bank had previously set a target to align its financed emissions with pathways to net zero by 2050, but the postponement reflects the complexities involved in transitioning its extensive portfolio towards more sustainable practices. HSBC's move also aligns with broader industry trends where financial institutions are reevaluating their commitments in light of economic, political, and technological developments. The bank continues to engage with stakeholders to refine its approach to climate risk management and sustainable finance.

Read the Full Reuters Article at:
[ https://www.reuters.com/sustainability/hsbc-pushes-back-climate-emissions-target-review-policies-2025-02-19/ ]
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