HSBC: climate resolution passes, but executives dodge tough questions

HSBC’s annual shareholder meeting on Friday was a mixed bag, with one step towards effective climate policies offset by two steps back.

Chimney sweeps protest fossil fuel financing

Chimney sweeps were spotted on the streets of London yesterday, as activists protested about pollution caused by some of the city’s biggest institutions.

Revealed: scale of UK banks’ contribution to climate crisis

We know that UK banks and asset managers like Barclays and HSBC are fuelling the climate crisis by financing polluting companies.

Dear HSBC, it’s time to deliver on your climate promises… and more

The climate resolution put forward at this year’s AGM is a good start, and your plan to end coal financing by 2040 is promising.

Lloyds risks losing its lustre if it rests on climate laurels

Guest blog from Jeanne Martin, Senior Campaign Manager, ShareAction 

 

It’s been a year and a half since Lloyds Banking Group committed to net-zero.

25% of Barclays shareholders defy bank executives on fossil fuel policies

The votes are in: nearly a quarter of Barclays shareholders defied bank executives over their climate policies at yesterday’s annual meeting.

Barclays tells shareholders to vote against climate resolution

Barclays’ annual general meeting is on the horizon, giving shareholders and investors the chance to push the bank towards defunding fossil fuels.

Why Carney’s climate banking alliance is a wasted opportunity

A new banking alliance has been established, claiming to set ambitious targets in addressing the climate crisis. Sounds great, right?

#CleanUpBarclays

A group of Barclays shareholders have put forward a climate resolution at the upcoming annual shareholder meeting to force the bank to end its fossil fuel funding.

All eyes on Blackrock, and how it votes on the Barclays resolution

This morning activists gathered outside Blackrock. BlackRock is the world’s biggest asset manager, with more than USD $9 trillion in assets under management.

Five reasons why HSBC still needs to feel the heat on fossil fuel funding

In just a few weeks, HSBC shareholders will vote on a climate resolution at the bank’s AGM. If it passes, HSBC will be committed to putting plans in place to end its fossil fuel funding.

Giant mural painted outside fossil funder Wells Fargo’s HQ

On Friday, hundreds of people took over a street in San Francisco outside the head offices of Wells Fargo, a major US bank.

New global study shows Canada’s banking bosses are too conflicted to take climate change seriously

The directors of Canada’s top five banks hold more extensive ties to polluting industries than their international counterparts, new analysis by DeSmog shows.

Climate strikers take on Standard Chartered

Climate strikers were out in force last week for the latest global strike, and Standard Chartered was firmly in their sights.

Global banks still pumping trillions into fossil fuels

UK banks are still funnelling billions into fossil fuels according to new research, while Barclays and HSBC remain among the worst in the world.

HSBC proposes end to coal financing

Wow. HSBC, one of the biggest funders of fossil fuels in the world, has announced plans to set clear deadlines for ending coal financing.

Bank of England gets green light for climate action

In a major step forward in ending fossil fuel financing, the Bank of England has been given a new mandate to support the government’s net-zero carbon strategy.

Majority of UK bank directors are ‘climate-conflicted’

Almost 80% of directors on the boards of the UK’s big five banks have connections to polluting industries, a new analysis has found.[1] The figures suggest such ‘climate-conflicted’ directors could represent a systemic obstacle to progressive climate action, as shareholders prepare to meet to consider a range of progressive environmental resolutions at the banks’ AGMs.

Asian communities tell HSBC: ‘we don’t need coal’

A direct message to HSBC investors has appeared in the Financial Times, asking them to back a shareholder resolution which will commit the bank to phase out coal financing.

HSBC is wrong, Asian communities don’t want coal

Dear HSBC investors,

HSBC is wrong and doesn’t speak for us.

Activists turn up the heat on Standard Chartered’s coal policy

Activists from around the world have published another impassioned open letter to Standard Chartered’s CEO, Bill Winters, criticising him and the bank for their continued support of coal companies.

Dear Standard Chartered, stop funding coal right now

A young activist from the Philippines has taken aim at Standard Chartered in a passionate letter about the bank’s continued support for fossil fuel companies.

Barclays and HSBC at risk of losing three million customers over continued investment in fossil fuels

As climate change continues apace with 2020 one of the hottest years on record, a survey of consumers who bank with Barclays and HSBC shows that these banks risk losing up to three million customers due to financing fossil fuels.

Time to detox your bank in the #BigBankDetox

Most banks are still heavily invested in the fossil fuel industry and show few signs of getting out completely. So if they won’t clean up their act, it’s time for all of us to detox our bank accounts.

HSBC doubles down on unwavering commitment to coal

“Coal is such a fundamental part of power generation in many developing countries where we operate that we do not think it is the right thing, from a social or economic perspective, to withdraw.”

 

You’d be forgiven for thinking that these are the words of a hardened coal baron intent on exploiting all possible coal reserves from developing countries.

Another investor announces support for HSBC shareholder resolution

The news that a resolution designed to get HSBC out of fossil fuels will be voted on at the upcoming AGM has caused quite the stir.

3 reasons HSBC should support shareholders’ ‘no fossil fuels’ resolution

A group of HSBC shareholders is disappointed that the bank isn’t taking urgent steps to end financing for fossil fuel companies.

How to switch your account from a bank funding fossil fuels

There are many ways to complain about your bank’s role in financing fossil fuels and join the millions demanding an end to bankrolling the climate crisis.

9 reasons banks have to stop funding fossil fuels

Whether you’re emailing your bank or talking to staff working in the branches, it helps to have a few good points lined up to make a solid argument.

Three easy ways to challenge banks funding fossil fuels

Furious that Barclays and HSBC are still investing in fossil fuels, but haven’t got much time to spare? Don’t worry – in just ten minutes, you can take on the banks which are pumping billions into oil, gas and coal companies.

Barclays’ dangerous funding exposed in sticker storm

In recent weeks, stickers have been plastered on Barclays branches across the UK, drawing attention to how the bank is continuing to fund the climate crisis.

Net zero doesn’t have to be rocket science, but Barclays is trying hard

Another day, another ‘climate announcement’ by a major bank. 

 

This week, Barclays has announced how it intends to reach ‘net-zero’ by 2050.

Barclays and HSBC $43 Billion Fossil Fuel Problem, despite Net-Zero pledge

It’s been revealed that between January and September of this year, Barclays increased its financing of key fossil fuel players compared to the same period last year in spite of a commitment by the bank to align its business with climate goals.

CAMPAIGNERS REJECT HSBC’S ‘NET-ZERO AMBITION’, TARGETING BILLBOARDS OVER ‘CLIMATE COLONIALISM’

Activists in 10 UK cities have covered billboards and bus stops with spoof HSBC adverts, accusing HSBC of ‘climate colonialism’ and demanding the bank end its financing of fossil fuels, detention centres and climate destruction.

Barclays and HSBC have no plan to exit tar sands 

Barclays revealed to have been involved in over 10 deals to harmful tar sands sector since committing to net-zero

 

New research has shown that the fight to end the extraction of tar sands for energy is not yet over, as the biggest financial players still have significant interests tied up in the companies that produce and export the harmful substance.

Revealed: HSBC signed off fossil fuel deals in run up to net-zero

A new investigation into HSBC’s dealings reveals that in the four months before it made a commitment to go net-zero by 2050, the bank financed at least four companies that are actively involved in the construction of new fossil fuel infrastructure, as well as one oil and gas project.

HSBC makes empty net-zero commitment

Europe’s largest bank has today announced it will go net-zero by 2050 but these commitments lack immediate exclusions of coal, oil and gas companies, and those most responsible for deforestation, which are now the bar of ambition.

Tell the Bank of England: change the rules of the game!

The Bank of England has the power to stop banks like HSBC and Barclays funnelling billions into companies making the climate crisis worse.

Euromoney, time to update your definition of sustainable banks

Last week top banking prizes were given to two of the world’s worst fossil banks. JP Morgan Chase received “World’s Best Bank”, while being the #1 banker of climate chaos and the target of a massive global campaign, and our very own HSBC won, shockingly, “Best Bank for Sustainable Finance”, despite it being Europe’s second worst fossil bank, having pumped $87B USD into fossil fuels since the Paris Climate Agreement was signed.

Storm of protests targeting Barclays across the UK

Sheffield,
Inverness,
Rochdale,
Bath,
Bristol,
Exeter,
Worthing,
Hertford,
Newbury,
Cardiff,
Manchester,
the flagship Piccadilly Circus branch in London,
Balham,
Clapham Junction,
Kendal,
St.

Barclay’s climate commitments could amount to not-zero

The whole idea of ‘net-zero’ has rocketed into the mainstream lately, and for good reason if we’re to have any chance of limiting warming to 1.5 degrees.

Barclays Vs Football

A mock football match staged outside Barclays’ flagship Piccadilly Circus branch has turned the floodlights on the bank’s cynical exploitation of the beautiful game.

Pressure mounts on Barclays and HSBC as protests build

Over the last few weeks Barclays have come under increasing pressure as protests have intensified. From Kendal to Bristol, Glasgow to St Albans, Barclays have come under fire for the financing of fossil fuels across the country.

Returning Lloyds of London met with protests

When Lloyds of London opened their doors on the 1st September they were greeted with a clear message: stop insuring catastrophic fossil fuel projects.

HSBC’s shiny ad campaign Vs the reality

Since 2012 the group Brandalism has been holding big corporations to account with guerrilla activism they call subtervising. Their next target?

Lloyds of London fuels the climate crisis

Our sister organisation Insure our Future today released a report highlighting the role that insurance giant Lloyd’s of London plays in driving the climate crisis.

Revolving door between Barclays and BP – The Ecologist

For those scratching their heads on why big banks continue to pour billions into the companies making the climate crisis worse, we found one of the answers!

What are we divesting for? Join a webinar

One of our partners Platform London is hard at work campaigning for British banks and other institutions to divest from fossil fuels.

The video Barclays don’t want you to see

Activists have a special message for Barclays after they found their dirty little secret:

Activists to Bank of England: Build Back Better

This week climate activists around the world are mobilising to demand a Just Recovery from the Covid-19 pandemic ahead of two important meetings that will be attended by the wealthiest governments and finance decision-makers.

Activists urge Barclays to quit coal habit in smokestack stunt

Activists have today descended on a Barclays branch in London, in protest against the bank providing billions of pounds to coal, the most polluting fuel, since UN scientists warned we have 10 years left to avert the worst consequences of the climate crisis.

Meet Sharklays: what the UK’s biggest fossil bank is really trying to say

These grassroots activists had a little fun spoofing Barclays’s latest ad campaign today. Below is their press release, and be sure to visit the new Sharklays.co.uk also!

Barclays urged to confront slavery and climate change

Today grassroots activists organized a socially distant protest at Barclays Bank’s offices in London demanding they take action not only on the climate crisis but their history supporting slavery.

Coronavirus bailouts shouldn’t stoke climate change

This opinion piece in Foreign Affairs points out how much of the stimulus created by world governments has gone to carbon-intensive industries and the fossil fuel sector that needs to be wound down in order to stave off the worst impacts of the climate crisis.

Building momentum for green recovery at the Bank of England

It feels a lot like momentum….!

 

First Andrew Bailey was forced to respond to activists who emailed and called him.

UK banks and investors backing Amazon destruction

Deforestation is the second major cause of climate change, and a joint investigation by the Guardian, Greenpeace’s Unearthed and the Bureau of Investigative Journalism, UK banks and financial institutions have provided more than $2bn US (£1.5bn) in financial backing in recent years to Brazilian beef companies linked to deforestation in the Amazon rainforest.

Coronavirus could cause £25 Trillion fossil fuel industry to collapse

That eye raising headline from The Guardian was based on reports that the value of fossil fuel reserves might fall by as much as two-thirds as the covid crisis has hastened the peak for oil, coal, and gas demand.

Fossil Finance and Climate Justice – webinar from People and Planet

Earlier in May our partner People & Planet’s Divest Barclays campaign held a webinar ahead of the Barclays’ AGM on why they are taking the fight for climate justice to the doorstep of the big banks.

24% of shareholders protest Barclays fossil fuel support

Today at Barclays’ AGM, an incredible 24% of shareholders voted for ShareAction’s resolution asking the bank to phase out financing for fossil fuels and utility companies that are not aligned with the Paris climate goals.

New report shows who is Funding Climate Chaos in the UK

Today, a group of organisations – 350.org, Platform London, People & Planet and The Sunrise Project – launched “Funding Climate Chaos“, a new report highlighting the role of UK banks in funding the climate crisis, focusing on Barclays and HSBC and referencing data from the Banking on Climate Change report.

What are the holes in Barclays’ new “Net Zero” policy?

Our friends at Share Action did the hard work to unpack what Barclays’ new fancy sounding “Net Zero” fossil policy really means.

CityAM debates morality of Barclays climate protests

The media is starting to notice the growing movement targeting banks and other financiers of fossil fuels. The newspaper CityAM hosted a debate on this new target of climate activists.

Greenpeace activists shut down 100 Barclays branches

Nearly 100 Barclays high street branches were shut down to protest against bank’s continued multi-billion dollar support for fossil fuels.

The RBS climate announcement and why it matters

A few days after our high profile ad ran in Scotland’s major newspaper, Alison Rose the CEO of RBS/ Natwest, announced as part of their new strategy for the Bank that RBS will also stop lending and offering underwriting services to major oil and gas producers that do not have credible transition plans in line with Paris climate agreement targets, which aim to limit global heating to below 2C.

Pressure to act big mounts on RBS

After a long concerted campaign at Royal Bank of Scotland/ Natwest to stop financing fossil fuels, led by the Friends of the Earth Scotland, BankTrack and others, rumors were flying that they were on the cusp of making a big climate policy announcement.

Protesters “swarm” London’s banks for their investment in fossil fuels

Grassroots activists from a wide cross section of British society have launched their “swarm” against the Bank of England and other financiers of fossil fuels in London today.