Urgent: HSBC

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In the next 48 hours, HSBC could make a plan to end coal financing — forever. But we need to ensure they’re under enormous pressure to do it. Let’s not miss the chance:

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Banking giant HSBC could rewrite our climate future in the next 48 hours — if we don’t miss our chance.

Right now, HSBC is Europe’s second-largest fossil fuel financier. But a group of major shareholders has forced a vote at an upcoming AGM that could stop the bank from investing in coal projects and companies — starting now.

This would be one of the biggest climate victories in recent memory. And HSBC is under unprecedented pressure, from major investors to activists at branches. Insiders say that top execs will decide in the next 48 hours whether to endorse the move -- or try to water it down. We can’t miss this chance! Send a message to key decision-makers:

HSBC: Break up... with coal, now!

HSBC has long given lip service to climate change, but since the Paris agreement was signed, it has pumped $87 billion into fossil fuels. Even now, the CEO is talking a good game, promising to wean off of coal. But the plan has no specifics, and is simply not fast enough.

Now over 100 institutional and private investors — representing over $2.4 trillion in assets — have changed the game. They’re putting enormous pressure on HSBC to pass a resolution at the AGM that will force the bank to put an expiration date on coal and fossil fuels.

The bank is preparing a response, and the next 48 hours will determine what they do. If execs are convinced not to water it down — HSBC could be a massive domino to stopping coal financing forever.

Our climate future could be riding on this — send an urgent message to HSBC's CEO and Chairman:

HSBC: end coal financing ASAP!

Coal is the deadliest fossil fuel. It wrecks communities, pollutes water, and ruins the air we breathe. New projects are very likely to impact frontline communities already experiencing the worst of the climate crisis. These communities need and want investment in renewable energy, not coal.

If we can convince HSBC, one of the premier fossil fuel financiers on the planet — there might be no stopping us. Let’s get this done.

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Thanks for all that you do,
Danny and the team at SumOfUs


More information:

Shareholders push HSBC to cut exposure to fossil fuels, The Guardian, January 10, 2021
HSBC targeted by shareholders over fossil fuel financing, Financial Times, January 10, 2021


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