12 November 2019
In May 2018, HSBC put out a policy that ruled out funding new coal power plants in countries other than Bangladesh, Vietnam and Indonesia.
Our new report, co-published last week with civil society organisations in Bangladesh, shows that if all the new projects were built, these plants would increase Bangladesh’s coal capacity 63-fold, from 525 MW today to 33,200 MW by 2031.
HSBC is considering funding the Payra Port dredging project, which would enable at least seven coal power plants access to 20 million tonnes of imported coal every year. This port and the coal plants it would facilitate, represent a carbon bomb that our world simply cannot afford.
Tell HSBC to rule out supporting coal in Bangladesh: