HSBC is trying to position themselves as a climate leader by sponsoring a UN event on climate finance on November 26 to 28. But they have refused to rule out funding new coal plants in Bangladesh, Indonesia and Vietnam.
Back in March, HSBC announced a partial ban on financing new coal plants in response to mounting pressure from activists and campaigners. But its policy still permits the financing of coal plants in Bangladesh, Indonesia and Vietnam until 2023. This even though all three countries are on the front line of climate change and have significant renewable energy potential – potential that could be harnessed to sustainably fight poverty. Coal can’t do that.
There are no exceptions. Any new fossil fuel project is incompatible with a safe climate.
We can’t let HSBC set the standard. We need to expose their greenwashing and that they close the loophole and stop financing all dirty energy projects, everywhere.
Send your tweets to HSBC
To expose their double standard on coal we are going to take over and crash the hashtags they're using at the climate finance Summit to spread their greenwashing, to make sure they can't get their message out.
Choose a tweet below, personalise if you like, tag @HSBC and make sure to include the hashtags #sustainablefinance, #CFD2018 and #GetUpScaleUp, and send!
Funding new fossil fuel projects will irreversibly damage our life, our air and health. We want a real #sustainablefinance policy, @HSBC! #GetupScaleUp
We know @HSBC CEO John Flint knows coal kills. So why keep financing coal projects in poorer countries like Bangladesh? If you believe in #sustainablefinance, you will end coal financing EVERYWHERE. #GetupScaleUp
#SustainableFinance means funding clean energy while taking into account communities’ rights to power their lives with renewable energy. @HSBC must #GetUpScaleUp by stopping coal finance everywhere, not just in rich countries.
Earlier this year, people power convinced HSBC to announce a partial ban on financing new coal burning power stations. But a partial ban isn’t enough.
HSBC wants to continue financing coal power stations in climate vulnerable countries like Bangladesh, Indonesia and Vietnam. We can’t let them lock communities’ into outdated, dirty, and dangerous coal.
Tell HSBC to stop financing all dirty energy projects everywhere.
The science is clear that any new fossil fuel project is incompatible with a safe climate. That means no funding for fossil fuel projects. No exceptions. No loopholes.
Burning coal harms both communities and ecosystems, and worsens the climate crisis. HSBC claims to support the goals of the Paris Agreement, yet it threatens our very future by funding the expansion of coal-fired power stations in Asia.
HSBC announced a partial ban on financing new coal burning projects which still allows financing coal plant projects in Bangladesh, Indonesia, and Vietnam!
We can’t let HSBC’s double standard on its coal policy continue. Bangladesh, Indonesia, and Vietnam are already experiencing increased storms, droughts, floods, and landslides due to climate change. HSBC’s policy will intensify climate change and expose these communities to dangerous air pollution.
HSBC knows that there is no future in coal. It's dangerous for our health and our climate. But yet they are willing to keep pushing dirty coal on the people of Southeast Asia.
A real sustainable finance means speeding up our transition away from coal and all fossil fuels and to renewable energy, not locking-in climate vulnerable communities to outdated, dirty, and dangerous technologies.
It would be a serious setback to the global efforts to transition the world to 100% renewable energy as well as the work to eradicate poverty in those regions if they continue with business as usual.