ShareAction is putting investors climate commitments to the test with HSBC resolution

Some big European shareholders are already on board but HSBC is a global bank. Given its much ballyhooed commitment to addressing the climate crisis, how will BlackRock, the world’s biggest money manager, respond?

HSBC is facing a climate resolution from investors  (REUTERS/Toby Melville)

With everything that’s going on in the world, the climate crisis has struggled for coverage and that needs to change because it could ultimately make the current pandemic look like a tea party. 

Fortunately there exist a number of groups that have it at the forefront of their agendas. One of them is ShareAction, which has today published the details of a climate resolution filed with HSBC ahead of the bank’s AGM.

In October the bank set out what it described as “an ambitious plan to prioritise financing and investment that supports the transition to a net zero global economy”.