July 17, 2024



Big Bank Climate Pledges ‘Cannot Be Trusted’

Children’s Health Defense – The Defender

By Julia Conley

November 10, 2021

An effort by global financial giant HSBC to water down an industry climate pledge exemplifies the fact that banks and other profit-driven companies “cannot be trusted” to end their complicity in the human-caused climate emergency, critics charged on Tuesday.

According to new reporting by the Bureau of Investigative Journalism (BIJ), HSBC wrote to the Net-Zero Banking Alliance (NZBA) — the initiative started by Mark Carney, former head of the Bank of England — on behalf of 12 large banks, calling on the alliance to loosen restrictions and delay deadlines in order to keep the banks from having to commit to far-reaching climate action.

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