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Dirty Clients Risk Being Dumped in HSBC’s Green Push

  • Bank said it could drop customers to meet climate goals
  • Lender has pledged $1 trillion towards net-zero funding
    
Photographer: Luke MacGregor/Bloomberg

HSBC Holdings Plc could drop corporate clients that aren’t doing enough to improve their green credentials, the bank has warned.

Europe’s largest lender said that while it would work with customers to help them become low-carbon businesses, it would “envisage situations where HSBC reduces and ultimately ends relationships with certain clients that do not align with Paris Agreement goals,” according to a policy statement published ahead of the company’s annual shareholder meeting in May.