But will keep funding 3rd world country energy programs.
DC: Europe’s largest bank, HSBC, announced Friday it would no longer back coal power plants in most countries or finance oil sands projects in Canada and offshore drilling in the Arctic, Financial Times reported.
The policy mirrors those of several other large banks such as ING, BNP Paribas and BBVA, reflecting a growing push by environmentalists for financial institutions to change their lending practices to address climate change.
“We recognize the need to reduce emissions rapidly to achieve the target set in the 2015 Paris Agreement to limit global temperature rises to well below 2 degrees Celsius and our responsibility to support the communities in which we operate,” HSCB global head of strategy and sustainable finance Daniel Klier said, according to Axios. more here
The end result will be limiting their profit margins to well below 2%?
Good, we’ll make the money instead and keep it here.
Finance is a service, like a dry cleaners.
In the era of Trump, these Euro-weenies are no longer in charge
Trust me when I tell ya… if there is energy in the ground, somebody’s gonna dig it up and use it!
Hillary and Revrum Wright’s “God-Damn America” feckless, tone-deaf, jug-eared, purple-lipped, Gay-obsessed, Radical, Bomb-Throwing, Communist-Organizing, Marxist, Muzlim Mallard tried pulling this shit in our country by intentionally attempting to bankrupt the Coal Industry behind the facade of some supposed “Environmental Responsibility”. I believe the real intent to allow the Chinese to come in and buy it out from under us for pennies on the dollar! Let’s face it, if anybody was going to sell this country down the drain it was those two!
Good luck with that Yurp!
Because it’s not as lucrative as laundering drug cartel blood money. Another atrocity in which Comey and Lynch were involved.
A person would think HSBC would be located in California or Washington state, or some other liberal weenie headed state.
US banks will be happy to have the oil business, especially down here in Texas.
Besides, I don’t think Europe is going to survive much longer. At least in it’s present format.
I looked it up, HSBC is not the only bank on the planet.
But we will continue to fund the building of abortion clinics
@Frank April 21, 2018 at 11:19 am
My bankster says you can burn the product, just like coal.
Well I’m no “Economist” but I reckon others will fund these projects. And benefit from the profits.
Yhe same applies to other virtue signalers such as Citibank, B of A and Dick’s.
And as a side note, the planet was considerably warmer when those deposits were formed. Global COOLING is what interrupted their formation.
Enjoy your tofu burgers, assholes.
Smart. Real smart. They’re going to give up profit and invest in losing propositions like wind and solar. Then they’ll ask for a government bail out. Uh, good luck with that. Europe is getting into ‘Bail-Ins’ where DEPOSITOR’S savings and investments are confiscated first. Same dumb shits who let muslims into their countries. Europe is toast.
“Yurp!” LOL!
And … and … if all of Europe doesn’t collapse, they’ll cut off their penixes with plastic knives – and if THAT doesn’t do it – they’ll hold their breath until they turn blue!
Stockholders should dump every one of these assklowns.
izlamo delenda est …
A smart activist (funded by a competitor perhaps) would then ask them to put their mouth where their money used to be and stop lending for cars, ships, planes etc.
Comey was on the board of HSBC
I was intrigued enough yesterday to read a bit about HSBC, which started in the 1860’s in Hong Kong. Today, a red flag went up after pondering that fact. The company is as dirty as can be, financing the opium trade forced upon China by the British. Just as I suspected, once I put together the words British Empire, banking, Hong Kong, and the 1860’s.
Read about it here: https://www.taxjustice.net/2015/02/27/hsbc-and-the-worlds-oldest-drug-cartel/