HSBC relaxes short-term emissions goals for high-polluting industries

Written by Emily J. Thompson, Senior Investment Analyst

Source: Reuters

Updated: Nov 06 2025

0mins

Source: Reuters

HSBC's New Climate Targets: HSBC has issued new, softer near-term climate targets for high-emitting sectors like oil and gas, reflecting the slow pace of change in the economy and dropping its previous goal of achieving net-zero emissions by 2030 for its own operations.
Financed Emissions Goals: The bank aims for its financed emissions from oil and gas clients to decrease by 14% to 30% by 2030, based on a 2019 baseline, aligning with updated scenarios from the International Energy Agency (IEA).
Context of the Announcement: This update comes as global leaders meet for the UN COP30 climate talks in Brazil, highlighting a trend among banks to soften their climate commitments amid challenges in combating climate change.
Sustainable Finance Commitment: Despite the adjustments to its climate targets, HSBC remains committed to facilitating $750 billion to $1 trillion in sustainable finance by 2030.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.