23 August 2019 Over 55 major corporations, from banking and insurance to engineering and construction, have ruled out working on the disastrous Adani Carmichael coal project. One of these companies is HSBC. Back in 2016 HSBC announced it would no longer finance new thermal coal mines. However, it was revealed … Read More
Westpac and HSBC violate their coal policies to fund Adani Carmichael
Adani’s Abbot Point coal port. Credit: Dean Sewell 23 August 2019 Two of these are Westpac and HSBC. Back in 2016 HSBC announced it would no longer finance new thermal coal mines. In 2017, Westpac also ruled out the Adani Carmichael project. However, both banks are providing Adani’s engineers GHD … Read More
HSBC bosses spin yet more climate rhetoric on coal finance for developing countries
A full-page ad in the UK’s biggest business newspaper, a protest and plenty of deservedly tough questions. HSBC’s AGM had it all. 15 April 2019 Last Friday marked HSBC’s 2019 annual general meeting (AGM) and a year since the bank shamefully decided to leave the door open to funding new … Read More
HSBC’s cynical coal policy leaves Bangladesh, Vietnam and Indonesia open for business
HSBC’s coal power policy, released at its April 2018 AGM, boldly states it will not finance new coal-fired power plants, with some exceptions. It will still finance projects in Bangladesh, Vietnam and Indonesia, with further limits on the carbon intensity and financial close dates of the projects. 23 January 2019 … Read More
WIN! Standard Chartered rules out new coal…. everywhere!
25 September 2018 Standard Chartered bank today updated its policy on lending to power generation, ruling out new coal power plants anywhere in the world. It confirmed the bank would no longer directly finance “any new coal-fired power plant projects, including expansions, in any location”. This marks a massive shift … Read More
Keeping Euros out of dirty coal in Australia
5 May 2014 If we’re going to stop new dirty coal projects getting funded, we need to work both in Australia and internationally. Market Forces is in Europe where, over the next couple of weeks, several banks that are key to new coal export projects in Australia are having their … Read More