Like most of its leading banking peers, HSBC is looking for ways to reduce emissions without losing revenue. For now, it remains one of the major financiers of major oil and gas. HSBC has helped fossil fuel companies raise about $52 billion from bond sales since the Paris climate deal was announced in late 2015, according to data collected by Bloomberg. Of the European banks, only Barclays helped take on more debt for the oil, gas and coal industries.

This post HSBC announces ‘phasing out’ financing for fossil fuel customers

was original published at “https://www.bloombergquint.com/business/hsbc-announces-phase-down-of-funding-for-fossil-fuel-clients”