HSBC To ease Financing New Coal-Fired Power Plants

HSBC has announced that it will cease financing all new coal-fired power plants around the world with three exceptions — Bangladesh, Indonesia, and Vietnam.

They published an update to its energy policy on Friday which contained the new decision to cease financing new coal-fired power plants around the world — deepening a 2011 commitment to restrict support for new coal-fired power plants and effectively ceasing support in 78 developed countries.

As part of its new energy policy, HSBC will also no longer provide financial services for either new offshore oil and gas projects in the Arctic, or new greenfield oil sands projects.

The move is a strong one for HSBC and one which comes in a long line of commitments to support the transition to a low-carbon economy.

  • Upvote 1

Share this post


Link to post
Share on other sites

Why make exceptions, though? Just say no to coal forever. wait, don't tell me: they are being charitable?

  • Like 1

Share this post


Link to post
Share on other sites

On 4/20/2018 at 10:28 AM, CMOP said:

The move is a strong one for HSBC and one which comes in a long line of commitments to support the transition to a low-carbon economy.

Keyword Phrase - long line of commitments - @Marina Schwarz

  • Upvote 1

Share this post


Link to post
Share on other sites