HSBC shareholder resolution update

12 March 2021

Intensive engagement by Brunel and the coalition of investors that filed a climate change resolution at HSBC, calling on them to publish a strategy to reduce exposure to fossil fuel assets on a timeline consistent with the Paris climate goals, has led to the withdrawal of the shareholder resolution. This is in exchange for HSBC’s own board-backed resolution.

Brunel announce intention to back a shareholder resolution calling on HSBC to publish a strategy and targets to reduce its exposure to fossil fuel assets

22 January 2021

Fifteen institutional investors with a combined US$ 2.4 trillion in assets under management have filed a climate change resolution at HSBC, alongside 117 individual shareholders. The resolution, co-ordinated by responsible investment NGO ShareAction, calls on HSBC to publish a strategy and targets to reduce its exposure to fossil fuel assets, starting with coal, on a timeline consistent with the Paris climate goals.