Value of financing for fossil fuel companies by HSBC Holdings 2021, by type
Despite growing pressure on governments and banks to focus energy financing towards greener paths, some of the world's biggest banks have continued to increase their financing into companies active in the fossil fuel life cycle. In a 2022 report released by the Rainforest Action Network (ran.org), 60 of the world's largest banks put approximately 4.58 trillion U.S. dollars into financing fossil fuel companies between 2016 and 2021.
In 2021, HSBC Holding's financing to companies active across the fossil fuel life cycle decreased from the previous year. The fossil fuel sector that received the most financing from HSBC in 2021 were expansion projects.
In 2021, HSBC Holding's financing to companies active across the fossil fuel life cycle decreased from the previous year. The fossil fuel sector that received the most financing from HSBC in 2021 were expansion projects.
