LONDON/HONG KONG -- HSBC shareholders overwhelmingly voted to phase out coal financing by 2040 and align the bank's lending with Paris Agreement climate goals
The resolution, supported by over 99% of votes at an annual shareholders meeting Friday, was spearheaded by a coalition of investors managing $2.4 trillion in assets led by U.K.-based nonprofit ShareAction. A 75% majority was needed to make the resolution binding.
