HSBC Climate Data Sparks Investor Call for Regulatory Review

A group of investors managing $400 billion is calling for HSBC Holdings Plc to be subjected to a regulatory review, citing concerns the UK bank may be misleading shareholders and creditors about its exposure to near-term climate risks.

HSBC’s assessment looks “excessively optimistic,” investment managers including Sarasin & Partners, Lombard Odier Investment Management and Edentree Investment Management said in a letter to the UK Financial Reporting Council.