Shareholders push HSBC to cut exposure to fossil fuels

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Europe’s second-largest financier of fossil fuels faces a vote to ramp up its climate commitments

HSBC could be forced to slash its exposure to fossil fuels – starting with coal – from next year, after an influential group of investors filed a shareholder vote urging the bank to ramp up its climate commitments.

Fifteen pension and investment funds are pushing HSBC to reduce the loans and underwriting services offered to clients which rely heavily on fossil fuels within a timeline consistent with Paris climate goals.

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