ESG & Investing
HSBC Asked by $890 Billion Investor Group to Set Energy Goal
- The request was discussed at the bank’s annual meeting
- HSBC says it welcomes ShareAction’s constructive engagement
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A group of HSBC Holdings Plc investors wants the bank to set a funding target for renewable energy amid concerns its current green pledges are too vague.
It’s part of a list of demands that includes asking Europe’s biggest bank to spell out exactly how it plans to hit a sustainable-finance target of up to $1 trillion. The shareholders, who have more than $890 billion of combined assets under management, include Royal London Asset Management, Axiom Alternative Investments and La Francaise Asset Management. The initiative was coordinated by UK nonprofit ShareAction.