HSBC
#2 in the UK for fossil fuel financing.
Your bank is failing on climate responsibility.
As the UK's largest bank, HSBC has poured at least $192 billion into coal, oil, and gas since the Paris Agreement. For every dollar it directed to fossil fuels in 2021-2024, just 46 cents went to renewables and grids.
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HSBC long cultivated a climate-conscious image, but its actions tell a different story. In February 2025, it delayed its operational net zero target by 20 years, from 2030 to 2050. In July 2025, it became the first UK bank to leave the Net-Zero Banking Alliance. Its 2024 fossil fuel financing rose 35% on the previous year.
In December 2022, HSBC committed to stop financing new oil and gas fields, a genuinely significant policy at the time. But the Bureau of Investigative Journalism revealed in 2025 that HSBC repeatedly bulldozed its own coal financing restrictions, including a 2023 deal for mining giant Glencore and a 2024 deal for an Indian steel company expanding coal use.
Your bank may be ignoring the Paris Agreement.
The Paris Agreement set the goal to stay under 1.5°C of warming for very good reasons. According to the Intergovernmental Panel on Climate Change, an increase of just a couple of degrees more could lead to "substantial species extinction, large risks to global and regional food security", and an inability to work outside — or even live — in some areas of the world. Our world will become unrecognizable as ocean dead zones, floods, and extreme weather fuel social and economic disruption.
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