Dear HSBC Shareholder,

Before you access the free HSBC AGM wifi we have one quick question for you:

Do you support HSBC’s continued financing of polluting coal power plants in some of the most climate vulnerable countries in Asia?

Yes    No

HSBC’s coal power policy, released at last year’s AGM, committed to no longer finance new coal-fired power plants, but it made exceptions for 3 countries that have some of the largest new coal power projects in the world1: Bangladesh, Vietnam and Indonesia.

While the rest of the world embraces the benefits of clean and affordable renewable energy, HSBC’s coal policy locks these three countries into dirty, dangerous and expensive fossil fuel infrastructure that is outdated now and will be antiquated within a few years.

The long-term costs to the local communities of this obsolete technology will be felt for decades. Meanwhile, proposed renewable energy projects in all three countries remain under-funded.

HSBC claims to support the goals of the Paris Agreement, yet it continues to aggravate the climate crisis by funding the expansion of coal-burning power plants in Asia. Why the double standard? 

Climate change is the greatest threat to international development and human prosperity. HSBC likes to portray itself as a climate change champion, but its policy on coal in Bangladesh, Indonesia and Vietnam tells a very different story.

Our world is on fire, we are demanding the transition to a fossil free world now, that means leaving the coal and other fossil fuels in the ground.

While HSBC continues pouring more than $57 Billion USD into fossil fuels since the Paris agreement, over 1.6 million school children around the world are on climate strike to protect their future.  Many of them are on strike here today outside the AGM alongside diaspora groups representing communities in Bangladesh that face the frontline impacts of climate change daily.

As a shareholder of HSBC you have the power and the moral responsibility to tell HSBC that they must fix their policy and stop financing coal everywhere.  HSBC can and must  adopt a lending policy that aligns with the Paris Agreement that aims to keep the global temperatures rise below 1.5°C.

Add your name below if you stand with the impacted communities in Bangladesh, Indonesia, and Vietnam demanding that HSBC fix its coal policy.


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Further Information

1 The Global Coal Plant Tracker identifies 36 Gigawatts (GW) of coal power under development in Vietnam, 21 GW in Indonesia and 19 GW in Bangladesh.