Reuters exclusively reports HSBC targets net zero emissions by 2050, earmarks $1 trillion green financing

HSBC will target net zero carbon emissions across its entire customer base by 2050 at the latest, and provide between $750 billion and $1 trillion in financing to help clients make the transition, Chief Executive Noel Quinn told Reuters. The pledge is the strongest statement by Europe’s biggest bank on climate change to date, although it met with criticism from some environmental groups for not taking more immediate action to curb its fossil fuel financing.