Exclusive: HSBC targets net zero emissions by 2050, earmarks $1 trillion green financing

Investing.com | Oct 9, 2020 at 2:00 AM
  • Will target net zero carbon emissions across its entire customer base by 2050 at the latest, and provide between $750 billion and $1 trillion in financing to help clients make the transition, its Chief Executive Noel Quinn told Reuters.
  • This week, Wall Street heavyweight JPMorgan (N:JPM) became the latest bank to expand investment in clean energy and work towards net zero emissions by 2050.
  • The ramped up financing plans, including infrastructure projects, equate to a seven-fold increase compared with HSBC’s last financing climate pledge of $100 billion, made in 2017.