ESG & Investing
HSBC Unveils First ‘Transition’ Plan, Putting Onus on Clients
- CEO Quinn says HSBC’s success depends on clients, economy
- Banks are increasingly adding caveats to net zero goals
This article is for subscribers only.
HSBC Holdings Plc has released its first ever so-called transition plan, laying out a path to slashing financed emissions from its books amid a wider recalibration across the banking industry.
The bank didn’t unveil any new climate commitments, but mapped out the changes it sees as necessary to decarbonize the heavy-emitting industries it still finances.