Protesters are expected to descend on the AGM of HSBC on Friday (April 12th) to call for Britain’s biggest bank to stop bankrolling coal companies that are driving climate breakdown around the world.
Christian Aid’s Campaigns Strategy Lead, Helen Collinson, said: “Today children are taking action as part of the Friday’s for Future school strikes that have spread around the world. And yet while young people demand action on climate change, banks like HSBC continue to pour money into coal companies that endanger our future.
“HSBC’s strapline is ‘together we thrive’, but by keeping the finance tap flowing for coal companies, the bank’s actions could lead to quite the opposite. The fact is that climate change is making it hard for millions of people to simply survive.”
Christian Aid is calling for HSBC to:
- - Stop financing companies that make more than 30% of their money from coal mining or coal power.
- - Remove the exception that allows HSBC to finance new coal plants in Bangladesh, Philippines and Indonesia.
- - Publish a time bound plan for phasing out financing of fossil fuels and increasing finance for renewable energy.