CarrZee: If HSBC is investing / lending based on new carbon removal tech, it should say so more clearly. See bottom…
Read this
https://apple.news/A_HwZl2NWRny5q1y3b5H8Bw
Snip of key first bits …
ITV: Last month, representatives from nearly 200 countries agreed to begin reducing global consumption of fossil fuels, signalling the beginning of the end of the oil age.
But almost all of the energy companies, whose executives have assembled on the snowy slopes of Davos, plan to ramp up oil and gas production in the next few years.
And, thus far, the international banks, who are also here in force, appear willing to help them raise the money they need.
In December 2022, HSBC published a new energy policy, which contained a bold pledge: to end funding for new oil and gas fields.
The text seemed unambiguous. HSBC would “no longer provide upstream finance (through lending or capital markets) for the specific purposes of new oil and gas fields and related infrastructure whose primary use is in conjunction with new fields.”
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