Green finance? Why global banks are pledging billions to fight climate change

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Banking giant HSBC has pledged US$100 billion (£76 billion) to “fight climate change”, to be spent on sustainable finance and investment over the next eight years.

It also commits to increasing its own use of renewable energy and to reducing its funding of coal projects.

Upaus 2bHSBC is following a growing trend among investment banks which includes a US$200 billion funding commitment from JP Morgan Chase, the acquisition of the UK’s Green Investment Bank by Macquarie, and exits from coal lending by Deutsche Bank, Credit Agricole and…

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