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    HSBA   GB0005405286

HSBC HOLDINGS PLC

(HSBA)
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Delayed Quote. Delayed London Stock Exchange - 12/01 11:35:13 am
429.2 GBX   +2.35%
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HSBC : ú36bn pension scheme pledges to be net zero by 2050 at the latest

10/08/2021 | 06:21am EST

HSBC’s pension scheme, one of the largest corporate pension schemes in the UK, has pledged to achieve net zero carbon emissions by 2050 or sooner.

In the run up to COP26, an increasing number of activists have zeroed in on fossil-fuel investing pension funds and wider financial institutions like HSBC and Lloyds for carbon-heavy investments.

Under the bank’s new promises, the scheme, which is comprised of around £36bn in assets, will have all of its corporate bond and equity investments be “fully aligned” to the goals of the Paris Agreement by 2030.

The 2015 Paris Agreement aims to keep global temperatures below 1.5C, but slashing greenhouse gases.

The bank’s pension pot has also outlined an interim emission cutting target of 50 per cent by 2030. Meanwhile, it intends to bolster sustainability engagement and stewardship among the scheme’s asset managers.

“The trustee recognises the increased urgency with which climate change needs to be tackled and in it playing an active role in supporting the drive to decarbonise the economy,” pension scheme trustee board chair Russell Picot said.

“The time is right to take the next step to further embed climate change actions into our future plans for the benefit of our members.”

The post HSBC's £36bn pension scheme pledges to be net zero by 2050 at the latest appeared first on CityAM.

© City AM, source Newspaper

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Financials (USD)
Sales 2021 49 825 M - -
Net income 2021 12 089 M - -
Net Debt 2021 - - -
P/E ratio 2021 9,47x
Yield 2021 4,40%
Capitalization 115 B 115 B -
Capi. / Sales 2021 2,31x
Capi. / Sales 2022 2,20x
Nbr of Employees 223 448
Free-Float 98,2%
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Mean consensus OUTPERFORM
Number of Analysts 24
Last Close Price 5,70 $
Average target price 6,74 $
Spread / Average Target 18,2%
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Managers and Directors
Noel Paul Quinn Group Chief Executive Officer & Executive Director
Ewen James Stevenson Chief Financial Officer & Executive Director
Mark Edward Tucker Non-Executive Group Chairman
Steven C. van Wyk Chief Information Officer
John M. Hinshaw Group Chief Operating Officer
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