HSBC Shareholders Urge Bank To Cut Fossil Fuel Funding

HSBC Shareholders Urge Bank To Cut Fossil Fuel Funding

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Some of the largest institutional shareholders of HSBC have filed a climate resolution, urging Europe’s biggest bank to announce a strategy to reduce its exposure to lending money to fossil fuel development. The shareholders—which include investors will total assets under management of US$2.4 trillion and some of which are the largest listed asset manager in Europe, Amundi, and the biggest listed hedge fund firm in the world, Man Group Plc—filed a climate resolution to be voted at HSBC’s annual general meeting in April.…

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