HSBC challenges Big Oil more often than peers

Which of the largest investors in the UK voted for change at Big Oil? 

The Guardian, The Independent, and many other media point to HSBC as the leader. 

Please find below the media coverage of the climate votes of the ten largest asset managers in the UK. HSBC AM, the asset managers of Europe’s largest bank, shows its peers what real stewardship looks like. We trust the others will follow as soon as they realise that Big Oil is using their votes against Paris-alignment as support for hanging on to fossil fuels as long as possible exacerbating the climate crisis. 

“Paris will fail unless the oil industry changes, which is a decision for shareholders.” – Follow This in The Independent. 

“Investors do not have to sacrifice climate action in favour of short-term profits. This is a false dilemma: shareholders can enjoy dividends from oil and gas while oil majors invest these profits in renewables to drive down emissions at the same time. Taking short-term fossil fuel profits and addressing long-term climate risks are not mutually exclusive.” – The Guardian. 

“HSBC is the only true steward of the global economy. Their peers enable most oil majors to continue to cause climate breakdown.” – on Bloomberg 

Links to more media coverage here:

UK investors backtrack on support for climate resolution at oil firms’ AGMs | Financial sector | The Guardian 

HSBC Challenges Big Oil More Often Than Peers, Study Shows – Bloomberg 

UK asset managers ‘backtracked on climate resolutions at oil major AGMs’ | The Independent (PA News Agency) 

Big UK managers oppose all Follow This climate target proposals at oil majors (responsible-investor.com) 

HSBC challenges Big Oil more often than peers, study shows (energyvoice.com) 

UK asset managers ‘backtracked on climate resolutions at oil major AGMs’ (yahoo.com)