HSBC to stop funding new oil, gas fields

By Associated Press

Dec 16, 2022 12:04 am

HSBC, Europe's biggest bank, announced on Wednesday it would no longer finance new oil and gas fields as part of its updated climate strategy.

Climate campaigners welcomed the move, saying HSBC provided a new baseline for other major banks, but urged the bank to go further.

HSBC’s name and logo are seen on a building in Hong Kong on Nov. 16, 2021. AP FILE PHOTO

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