HSBC climate credentials in firing line as asset managers file shareholder resolution

HSBC is facing a shareholder resolution filed in co-ordination with 117 shareholders, including Man Group, Sarasin & Partners and Amundi, targeting the bank's substantial exposure to fossil fuel assets and its compliance with the Paris Climate goals.  The investors, which together represent $2.4trn in AuM, are calling on HSBC to publish a strategy and targets to reduce its exposure to fossil fuel assets, starting with coal, on a timeline consistent with the Paris climate goals. It follows a four-year engagement campaign with the bank, most recently including the March 2020 letter, sig...