{"id":23170,"date":"2022-09-22T16:10:12","date_gmt":"2022-09-22T14:10:12","guid":{"rendered":"https:\/\/reclaimfinance.org\/site\/?p=23170"},"modified":"2023-02-08T11:44:51","modified_gmt":"2023-02-08T10:44:51","slug":"our-reaction-to-hsbc-ams-new-coal-policy","status":"publish","type":"post","link":"https:\/\/reclaimfinance.org\/site\/en\/2022\/09\/22\/our-reaction-to-hsbc-ams-new-coal-policy\/","title":{"rendered":"HSBC AM\u2019s new coal policy wiped out by big loopholes"},"content":{"rendered":"<p><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-1 fusion-flex-container nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row fusion-flex-align-items-flex-start fusion-flex-content-wrap\" style=\"max-width:1216.8px;margin-left: calc(-4% \/ 2 );margin-right: calc(-4% \/ 2 );\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-0 fusion_builder_column_1_1 1_1 fusion-flex-column\" style=\"--awb-bg-size:cover;--awb-width-large:100%;--awb-margin-top-large:0px;--awb-spacing-right-large:1.92%;--awb-margin-bottom-large:20px;--awb-spacing-left-large:1.92%;--awb-width-medium:100%;--awb-order-medium:0;--awb-spacing-right-medium:1.92%;--awb-spacing-left-medium:1.92%;--awb-width-small:100%;--awb-order-small:0;--awb-spacing-right-small:1.92%;--awb-spacing-left-small:1.92%;\"><div class=\"fusion-column-wrapper fusion-column-has-shadow fusion-flex-justify-content-flex-start fusion-content-layout-column\"><div class=\"fusion-text fusion-text-1\" style=\"--awb-content-alignment:justify;--awb-text-color:var(--awb-color4);\"><p><b>HSBC AM published today <span style=\"text-decoration: underline; \"><a style=\"color: #8ac56b;\" href=\"https:\/\/www.hsbc.com\/news-and-media\/hsbc-news\/hsbc-asset-management-to-phase-out-thermal-coal\" target=\"_blank\" rel=\"noopener\">its coal policy<\/a><\/span>, almost a year after its parent group HSBC announced its phasing out of coal financing. The asset manager announced it wanted to exit coal by 2030 in EU and OECD countries and 2040 globally and introduced some investment restrictions for the coal sector. While Reclaim Finance welcomes this long awaited policy, it highlights that the benefits of the new restriction rules could be wiped out by big loopholes.<\/b><\/p>\n<\/div><\/div><\/div><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-1 fusion_builder_column_1_1 1_1 fusion-flex-column\" style=\"--awb-bg-size:cover;--awb-width-large:100%;--awb-margin-top-large:0px;--awb-spacing-right-large:1.92%;--awb-margin-bottom-large:20px;--awb-spacing-left-large:1.92%;--awb-width-medium:100%;--awb-order-medium:0;--awb-spacing-right-medium:1.92%;--awb-spacing-left-medium:1.92%;--awb-width-small:100%;--awb-order-small:0;--awb-spacing-right-small:1.92%;--awb-spacing-left-small:1.92%;\"><div class=\"fusion-column-wrapper fusion-column-has-shadow fusion-flex-justify-content-flex-start fusion-content-layout-column\"><div class=\"fusion-title title fusion-title-1 fusion-title-text fusion-title-size-one\" style=\"--awb-text-color:#59bc6d;--awb-margin-bottom:15px;--awb-font-size:16px;\"><div class=\"title-sep-container title-sep-container-left fusion-no-large-visibility fusion-no-medium-visibility fusion-no-small-visibility\"><div class=\"title-sep sep- sep-solid\" style=\"border-color:#3e3e3e;\"><\/div><\/div><span class=\"awb-title-spacer fusion-no-large-visibility fusion-no-medium-visibility fusion-no-small-visibility\"><\/span><h1 class=\"fusion-title-heading title-heading-left fusion-responsive-typography-calculated\" style=\"margin:0;font-size:1em;--fontSize:16;--minFontSize:16;line-height:1.4;\">A welcome recognition of the problem with coal expansion<\/h1><span class=\"awb-title-spacer\"><\/span><div class=\"title-sep-container title-sep-container-right\"><div class=\"title-sep sep- sep-solid\" style=\"border-color:#3e3e3e;\"><\/div><\/div><\/div><div class=\"fusion-text fusion-text-2\" style=\"--awb-content-alignment:justify;\"><p>HSBC AM committed to not buy new debt and new shares (1) issued by companies involved in coal expansion. This is quite positive in theory, because:<\/p>\n<ol>\n<li aria-level=\"1\">Tackling coal expansion should now be the priority of robust coal policies, as there is no room in the carbon budget for new coal assets (2).<\/li>\n<li aria-level=\"1\">Tackling the primary market, and especially bond issuance, is key to stop supporting fossil fuel expansion. Coal companies are increasingly turning to the bond market as a safe haven (3).<\/li>\n<\/ol>\n<p>But unfortunately HSBC AM won\u2019t stop new investments into<i> all<\/i> companies with coal development plans because of a flawed definition. Like HSBC group, not only HSBC AM won\u2019t consider as coal developers companies that started construction or have been contractually committed (via power purchase agreement) before January 2021, but it also won\u2019t consider as coal expansion the purchase of existing coal assets through corporate mergers and acquisitions. Last but not least, HSBC only assesses net expansion, while climate science requires to no longer build new coal assets on top of phasing out existing ones.<\/p>\n<p>Furthermore, coal expansionists could remain in its portfolio until 2040, while best practices and climate emergency require to divest from them immediately or after a short delay.<\/p>\n<\/div><div class=\"fusion-title title fusion-title-2 fusion-title-text fusion-title-size-one\" style=\"--awb-text-color:#59bc6d;--awb-margin-bottom:15px;--awb-font-size:16px;\"><div class=\"title-sep-container title-sep-container-left fusion-no-large-visibility fusion-no-medium-visibility fusion-no-small-visibility\"><div class=\"title-sep sep- sep-solid\" style=\"border-color:#3e3e3e;\"><\/div><\/div><span class=\"awb-title-spacer fusion-no-large-visibility fusion-no-medium-visibility fusion-no-small-visibility\"><\/span><h1 class=\"fusion-title-heading title-heading-left fusion-responsive-typography-calculated\" style=\"margin:0;font-size:1em;--fontSize:16;--minFontSize:16;line-height:1.4;\">New measures announced for passive funds: not good enough!<\/h1><span class=\"awb-title-spacer\"><\/span><div class=\"title-sep-container title-sep-container-right\"><div class=\"title-sep sep- sep-solid\" style=\"border-color:#3e3e3e;\"><\/div><\/div><\/div><div class=\"fusion-text fusion-text-3\" style=\"--awb-content-alignment:justify;\"><p>To truly exit coal, asset managers must set the path to progressively exclude coal from their passive portfolio. We analyzed HSBC AM\u2019s coal policy for its passive assets, which represent around 15% of its AUM, based on our guidelines for passive funds.<\/p>\n<p>A robust policy for passive funds should:<\/p>\n<p>i) Be completely transparent about the scope covered \/ not covered yet among passively managed assets. The percentage of assets currently covered compared to the total AUM must be specified.<\/p>\n<p>ii) At minimum, commit not to launch any new product without robust coal exclusion criteria (and especially a criteria to exclude coal developers).<\/p>\n<p>iii) Offer climate-friendly funds with robust coal exclusion criteria as the default option for all clients across all product offerings. Existing default funds can be switched to climate-friendly equivalents.<\/p>\n<p>iv) For existing funds, identify fossil fuel developers, starting with coal developers identified by the Global Coal Exit List (GCEL), and vote against the companies as soon as this year; engage with other asset managers to ask index providers to identify and exclude coal laggards from all standard indexes; publish commitments to offer incentives for asset owners to switch funds; reposition standard funds. The policy should state publicly what is being done and the date after which all passive funds will be covered by the coal policy.<\/p>\n<p>HSBC AM is far from meeting these requirements. Not only does it not publish this information (i), but HSBC AM also does not offer coal-free index funds by default (ii). The policy commits them to not launch <i>new <\/i>passive funds with coal holdings BUT with a vaguely defined exception for companies with 1.5\u00b0C objectives. Coal developers are not mentioned (iii). Finally, it committed to engage all issuers with exposure to coal (prioritizing biggest holdings) but has not committed to systematically vote against all coal developers as soon as 2023. HSBC AM has not said at which date it will exit coal in passive funds. While it mentions it will engage index providers to obtain more coal free indexes, no ask is made regarding standard indexes (4) (iv).<\/p>\n<\/div><div class=\"fusion-title title fusion-title-3 fusion-title-text fusion-title-size-one\" style=\"--awb-text-color:#59bc6d;--awb-margin-bottom:15px;--awb-font-size:16px;\"><div class=\"title-sep-container title-sep-container-left fusion-no-large-visibility fusion-no-medium-visibility fusion-no-small-visibility\"><div class=\"title-sep sep- sep-solid\" style=\"border-color:#3e3e3e;\"><\/div><\/div><span class=\"awb-title-spacer fusion-no-large-visibility fusion-no-medium-visibility fusion-no-small-visibility\"><\/span><h1 class=\"fusion-title-heading title-heading-left fusion-responsive-typography-calculated\" style=\"margin:0;font-size:1em;--fontSize:16;--minFontSize:16;line-height:1.4;\">HSBC AM\u2019s policy has a timeline problem and uses vague definitions<\/h1><span class=\"awb-title-spacer\"><\/span><div class=\"title-sep-container title-sep-container-right\"><div class=\"title-sep sep- sep-solid\" style=\"border-color:#3e3e3e;\"><\/div><\/div><\/div><div class=\"fusion-text fusion-text-4\" style=\"--awb-content-alignment:justify;\"><p>The policy lays out that companies with more than 10% of revenue from coal will be \u201csubject to enhanced due diligence\u201d that might lead to investment restrictions and divestment. But as in many policies from financial institutions, it is unclear what are the redlines for HSBC AM to consider a transition plan \u201cincompatible with [their] net zero objective\u201d. While several factors are described to assess the plans (5), they are mainly based on disclosure requirements and not prioritized, furthermore, no deadline is given for divestment. HSBC AM indicates it will vote against the boards of companies which do not provide a TCFD reporting, which is a laughable ask. A robust coal policy would have a set of exclusion thresholds, and a commitment to reduce thresholds over time combined with a robust engagement process (6).<\/p>\n<\/div><div class=\"fusion-text fusion-text-5\" style=\"--awb-content-alignment:justify;--awb-text-color:var(--awb-color4);\"><p><strong>With this long awaited policy, HSBC AM is leaving the pool of the worst climate laggards among asset managers. A coal policy is a first basic step for any asset manager member of the NZAM and big asset managers such as DWS or Credit Suisse AM still haven\u2019t taken that step. This being said, the new HSBC AM coal policy is still way too accomodating with the coal sector given the climate emergency and is not aligned yet with best practices in the sector.<\/strong><\/p>\n<p style=\"text-align: justify;\"><strong><span style=\"color: var(--body_typography-color); font-family: var(--body_typography-font-family); font-size: var(--body_typography-font-size); font-style: var(--body_typography-font-style,normal); letter-spacing: var(--body_typography-letter-spacing);\">\u00a0<\/span><\/strong><\/p>\n<\/div><\/div><\/div><\/div><\/div><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-2 fusion-flex-container nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row fusion-flex-align-items-flex-start fusion-flex-content-wrap\" style=\"max-width:1216.8px;margin-left: calc(-4% \/ 2 );margin-right: calc(-4% \/ 2 );\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-2 fusion_builder_column_1_1 1_1 fusion-flex-column\" style=\"--awb-padding-top:10px;--awb-padding-right:10px;--awb-padding-bottom:0px;--awb-padding-left:10px;--awb-overflow:hidden;--awb-bg-size:cover;--awb-border-color:var(--awb-color5);--awb-border-top:1px;--awb-border-right:1px;--awb-border-bottom:1px;--awb-border-left:1px;--awb-border-style:solid;--awb-border-radius:10px 10px 10px 10px;--awb-width-large:100%;--awb-margin-top-large:0px;--awb-spacing-right-large:1.92%;--awb-margin-bottom-large:20px;--awb-spacing-left-large:1.92%;--awb-width-medium:100%;--awb-order-medium:0;--awb-spacing-right-medium:1.92%;--awb-spacing-left-medium:1.92%;--awb-width-small:100%;--awb-order-small:0;--awb-spacing-right-small:1.92%;--awb-spacing-left-small:1.92%;\"><div class=\"fusion-column-wrapper fusion-column-has-shadow fusion-flex-justify-content-flex-start fusion-content-layout-column\"><div class=\"fusion-text fusion-text-6\"><p><strong><span style=\"color: var(--awb-color5);\">To go further:<\/span><\/strong><\/p>\n<p>Our <span style=\"text-decoration: underline;\"><a href=\"https:\/\/coalpolicytool.org?key=eyJvbCI6W10sInRyaSI6MCwiZmx0IjpbeyJpIjoyLCJ2IjoiSFNCQyBHbG9iYWwgQU0ifV19\" target=\"_blank\" rel=\"noopener\">full analysis<\/a><\/span> of HSBC AM\u2019s coal policy is in the Coal Policy Tool.<\/p>\n<\/div><\/div><\/div><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-3 fusion_builder_column_1_1 1_1 fusion-flex-column\" style=\"--awb-padding-top:10px;--awb-padding-right:10px;--awb-padding-bottom:0px;--awb-padding-left:10px;--awb-overflow:hidden;--awb-bg-size:cover;--awb-border-color:#fffffff;--awb-border-top:1px;--awb-border-right:1px;--awb-border-bottom:1px;--awb-border-left:1px;--awb-border-style:solid;--awb-border-radius:10px 10px 10px 10px;--awb-width-large:100%;--awb-margin-top-large:0px;--awb-spacing-right-large:1.92%;--awb-margin-bottom-large:20px;--awb-spacing-left-large:1.92%;--awb-width-medium:100%;--awb-order-medium:0;--awb-spacing-right-medium:1.92%;--awb-spacing-left-medium:1.92%;--awb-width-small:100%;--awb-order-small:0;--awb-spacing-right-small:1.92%;--awb-spacing-left-small:1.92%;\"><div class=\"fusion-column-wrapper fusion-column-has-shadow fusion-flex-justify-content-flex-start fusion-content-layout-column\"><div class=\"fusion-text fusion-text-7\" style=\"--awb-content-alignment:justify;\"><p><b><span style=\"color: #ffffff;\"><u>Notes<\/u><\/span><span style=\"color: #ffffff;\"> :<\/span><\/b><\/p>\n<ol>\n<li>\u00a0Restricted to IPOs.<\/li>\n<li>\u00a0As outlined in the <span style=\"text-decoration: underline;\"><a href=\"https:\/\/www.iisd.org\/publications\/report\/ipcc-pathways-paris-aligned-policies\" target=\"_blank\" rel=\"noopener\">IPCC scenarios<\/a><\/span> and as underlined recently in the <span style=\"text-decoration: underline;\"><a href=\"https:\/\/reclaimfinance.org\/site\/en\/2022\/08\/31\/gfanz-leaders-give-personal-view-against-coal-financing-they-should-make-it-official\/\" target=\"_blank\" rel=\"noopener\">coal statement signed by the top three leaders of the Glasgow Financial Alliance on Net Zero (GFANZ)<\/a><\/span>.<\/li>\n<li>\u00a0By issuing bonds they can enjoy less public scrutiny, less transparency and ready access to trillions of dollars of debt.<\/li>\n<li>\u00a0Furthermore, HSBC AM does not commit to progressively reposition its passive funds.<\/li>\n<li>\u00a0See point 6. in HSBC AM\u2019s coal policy.<\/li>\n<li>For companies that will remain in your portfolio (those which are not developing coal assets), we recommend the adoption of a set of criteria (ideally 20% of revenues\/power generation derived from coal and above 10MT and 5GW of production\/electricity produced from coal), with a commitment to reduce thresholds over time and until reaching 0-5% of revenues. Companies under such thresholds can be engaged, with a short engagement period, to ensure they adopt coal exit plans. In any case, your policy should be very explicit about what is expected from this engagement period: that these companies should commit to go below the thresholds by the required timeline and must adopt robust asset-based coal exit plans (see<span style=\"text-decoration: underline;\"><a href=\"https:\/\/u6p9s9c8.rocketcdn.me\/site\/wp-content\/uploads\/2021\/10\/Briefing_HowToExitCoal_ReclaimFinanceUrgewald_October2021-min.pdf\" target=\"_blank\" rel=\"noopener\"> our 10 criteria for evaluating corporate coal phase out plans<\/a><\/span>).<\/li>\n<\/ol>\n<\/div><\/div><\/div><\/div><\/div><\/p>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":26,"featured_media":23172,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[222],"tags":[],"acteurs_financiers":[2275],"thematique":[2421,2423],"webinar_type":[],"programme":[],"class_list":["post-23170","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog_en","acteurs_financiers-asset-managers-en","thematique-coal","thematique-fossil-fuels"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>HSBC AM\u2019s new coal policy wiped out by big loopholes - Reclaim Finance<\/title>\n<meta name=\"description\" content=\"HSBC AM published today its coal policy, almost a year after its parent group HSBC announced its phasing out of coal financing.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/reclaimfinance.org\/site\/en\/2022\/09\/22\/our-reaction-to-hsbc-ams-new-coal-policy\/\" \/>\n<meta property=\"og:locale\" content=\"fr_FR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"HSBC AM\u2019s new coal policy wiped out by big loopholes - Reclaim Finance\" \/>\n<meta property=\"og:description\" content=\"HSBC AM published today its coal policy, almost a year after its parent group HSBC announced its phasing out of coal financing.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/reclaimfinance.org\/site\/en\/2022\/09\/22\/our-reaction-to-hsbc-ams-new-coal-policy\/\" \/>\n<meta property=\"og:site_name\" content=\"Reclaim Finance\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/ReclaimFinanceONG\" \/>\n<meta property=\"article:published_time\" content=\"2022-09-22T14:10:12+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-02-08T10:44:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/reclaimfinance.org\/site\/wp-content\/uploads\/2022\/09\/1.-BANNER-SITEWEB18.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1350\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"L\u00e9o Martin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@ReclaimFinance\" \/>\n<meta name=\"twitter:site\" content=\"@ReclaimFinance\" \/>\n<meta name=\"twitter:label1\" content=\"\u00c9crit par\" \/>\n\t<meta name=\"twitter:data1\" content=\"L\u00e9o Martin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Dur\u00e9e de lecture estim\u00e9e\" \/>\n\t<meta name=\"twitter:data2\" content=\"9 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/reclaimfinance.org\/site\/en\/2022\/09\/22\/our-reaction-to-hsbc-ams-new-coal-policy\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/reclaimfinance.org\/site\/en\/2022\/09\/22\/our-reaction-to-hsbc-ams-new-coal-policy\/\"},\"author\":{\"name\":\"L\u00e9o Martin\",\"@id\":\"https:\/\/reclaimfinance.org\/site\/#\/schema\/person\/92f0f8d102e5e411f092871d8eeb3db1\"},\"headline\":\"HSBC AM\u2019s new coal policy wiped out by big loopholes\",\"datePublished\":\"2022-09-22T14:10:12+00:00\",\"dateModified\":\"2023-02-08T10:44:51+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/reclaimfinance.org\/site\/en\/2022\/09\/22\/our-reaction-to-hsbc-ams-new-coal-policy\/\"},\"wordCount\":2561,\"commentCount\":1,\"publisher\":{\"@id\":\"https:\/\/reclaimfinance.org\/site\/#organization\"},\"image\":{\"@id\":\"https:\/\/reclaimfinance.org\/site\/en\/2022\/09\/22\/our-reaction-to-hsbc-ams-new-coal-policy\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/reclaimfinance.org\/site\/wp-content\/uploads\/2022\/09\/1.-BANNER-SITEWEB18.png\",\"articleSection\":[\"Articles\"],\"inLanguage\":\"fr-FR\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/reclaimfinance.org\/site\/en\/2022\/09\/22\/our-reaction-to-hsbc-ams-new-coal-policy\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/reclaimfinance.org\/site\/en\/2022\/09\/22\/our-reaction-to-hsbc-ams-new-coal-policy\/\",\"url\":\"https:\/\/reclaimfinance.org\/site\/en\/2022\/09\/22\/our-reaction-to-hsbc-ams-new-coal-policy\/\",\"name\":\"HSBC AM\u2019s new coal policy wiped out by big loopholes - Reclaim Finance\",\"isPartOf\":{\"@id\":\"https:\/\/reclaimfinance.org\/site\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/reclaimfinance.org\/site\/en\/2022\/09\/22\/our-reaction-to-hsbc-ams-new-coal-policy\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/reclaimfinance.org\/site\/en\/2022\/09\/22\/our-reaction-to-hsbc-ams-new-coal-policy\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/reclaimfinance.org\/site\/wp-content\/uploads\/2022\/09\/1.-BANNER-SITEWEB18.png\",\"datePublished\":\"2022-09-22T14:10:12+00:00\",\"dateModified\":\"2023-02-08T10:44:51+00:00\",\"description\":\"HSBC AM published today its coal policy, almost a year after its parent group HSBC announced its phasing out of coal financing.\",\"breadcrumb\":{\"@id\":\"https:\/\/reclaimfinance.org\/site\/en\/2022\/09\/22\/our-reaction-to-hsbc-ams-new-coal-policy\/#breadcrumb\"},\"inLanguage\":\"fr-FR\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/reclaimfinance.org\/site\/en\/2022\/09\/22\/our-reaction-to-hsbc-ams-new-coal-policy\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"fr-FR\",\"@id\":\"https:\/\/reclaimfinance.org\/site\/en\/2022\/09\/22\/our-reaction-to-hsbc-ams-new-coal-policy\/#primaryimage\",\"url\":\"https:\/\/reclaimfinance.org\/site\/wp-content\/uploads\/2022\/09\/1.-BANNER-SITEWEB18.png\",\"contentUrl\":\"https:\/\/reclaimfinance.org\/site\/wp-content\/uploads\/2022\/09\/1.-BANNER-SITEWEB18.png\",\"width\":1350,\"height\":600},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/reclaimfinance.org\/site\/en\/2022\/09\/22\/our-reaction-to-hsbc-ams-new-coal-policy\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Accueil\",\"item\":\"https:\/\/reclaimfinance.org\/site\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"HSBC AM\u2019s new coal policy wiped out by big loopholes\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/reclaimfinance.org\/site\/#website\",\"url\":\"https:\/\/reclaimfinance.org\/site\/\",\"name\":\"Reclaim Finance\",\"description\":\"Reprendre le contr\u00f4le de la finance pour le climat et la biodiversit\u00e9\",\"publisher\":{\"@id\":\"https:\/\/reclaimfinance.org\/site\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/reclaimfinance.org\/site\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"fr-FR\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/reclaimfinance.org\/site\/#organization\",\"name\":\"Reclaim Finance\",\"url\":\"https:\/\/reclaimfinance.org\/site\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"fr-FR\",\"@id\":\"https:\/\/reclaimfinance.org\/site\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/reclaimfinance.org\/site\/wp-content\/uploads\/2020\/03\/logo_RC_space.png\",\"contentUrl\":\"https:\/\/reclaimfinance.org\/site\/wp-content\/uploads\/2020\/03\/logo_RC_space.png\",\"width\":800,\"height\":800,\"caption\":\"Reclaim Finance\"},\"image\":{\"@id\":\"https:\/\/reclaimfinance.org\/site\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/ReclaimFinanceONG\",\"https:\/\/x.com\/ReclaimFinance\",\"https:\/\/www.instagram.com\/reclaimfinance\/\",\"https:\/\/www.linkedin.com\/company\/reclaim-finance-ong-think-tank\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/reclaimfinance.org\/site\/#\/schema\/person\/92f0f8d102e5e411f092871d8eeb3db1\",\"name\":\"L\u00e9o Martin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"fr-FR\",\"@id\":\"https:\/\/reclaimfinance.org\/site\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/cebd89becb7f7185483789d7f51a21cb?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/cebd89becb7f7185483789d7f51a21cb?s=96&d=mm&r=g\",\"caption\":\"L\u00e9o Martin\"},\"url\":\"https:\/\/reclaimfinance.org\/site\/author\/lma\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"HSBC AM\u2019s new coal policy wiped out by big loopholes - Reclaim Finance","description":"HSBC AM published today its coal policy, almost a year after its parent group HSBC announced its phasing out of coal financing.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/reclaimfinance.org\/site\/en\/2022\/09\/22\/our-reaction-to-hsbc-ams-new-coal-policy\/","og_locale":"fr_FR","og_type":"article","og_title":"HSBC AM\u2019s new coal policy wiped out by big loopholes - Reclaim Finance","og_description":"HSBC AM published today its coal policy, almost a year after its parent group HSBC announced its phasing out of coal financing.","og_url":"https:\/\/reclaimfinance.org\/site\/en\/2022\/09\/22\/our-reaction-to-hsbc-ams-new-coal-policy\/","og_site_name":"Reclaim Finance","article_publisher":"https:\/\/www.facebook.com\/ReclaimFinanceONG","article_published_time":"2022-09-22T14:10:12+00:00","article_modified_time":"2023-02-08T10:44:51+00:00","og_image":[{"width":1350,"height":600,"url":"https:\/\/reclaimfinance.org\/site\/wp-content\/uploads\/2022\/09\/1.-BANNER-SITEWEB18.png","type":"image\/png"}],"author":"L\u00e9o Martin","twitter_card":"summary_large_image","twitter_creator":"@ReclaimFinance","twitter_site":"@ReclaimFinance","twitter_misc":{"\u00c9crit par":"L\u00e9o Martin","Dur\u00e9e de lecture estim\u00e9e":"9 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/reclaimfinance.org\/site\/en\/2022\/09\/22\/our-reaction-to-hsbc-ams-new-coal-policy\/#article","isPartOf":{"@id":"https:\/\/reclaimfinance.org\/site\/en\/2022\/09\/22\/our-reaction-to-hsbc-ams-new-coal-policy\/"},"author":{"name":"L\u00e9o Martin","@id":"https:\/\/reclaimfinance.org\/site\/#\/schema\/person\/92f0f8d102e5e411f092871d8eeb3db1"},"headline":"HSBC AM\u2019s new coal policy wiped out by big loopholes","datePublished":"2022-09-22T14:10:12+00:00","dateModified":"2023-02-08T10:44:51+00:00","mainEntityOfPage":{"@id":"https:\/\/reclaimfinance.org\/site\/en\/2022\/09\/22\/our-reaction-to-hsbc-ams-new-coal-policy\/"},"wordCount":2561,"commentCount":1,"publisher":{"@id":"https:\/\/reclaimfinance.org\/site\/#organization"},"image":{"@id":"https:\/\/reclaimfinance.org\/site\/en\/2022\/09\/22\/our-reaction-to-hsbc-ams-new-coal-policy\/#primaryimage"},"thumbnailUrl":"https:\/\/reclaimfinance.org\/site\/wp-content\/uploads\/2022\/09\/1.-BANNER-SITEWEB18.png","articleSection":["Articles"],"inLanguage":"fr-FR","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/reclaimfinance.org\/site\/en\/2022\/09\/22\/our-reaction-to-hsbc-ams-new-coal-policy\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/reclaimfinance.org\/site\/en\/2022\/09\/22\/our-reaction-to-hsbc-ams-new-coal-policy\/","url":"https:\/\/reclaimfinance.org\/site\/en\/2022\/09\/22\/our-reaction-to-hsbc-ams-new-coal-policy\/","name":"HSBC AM\u2019s new coal policy wiped out by big loopholes - Reclaim Finance","isPartOf":{"@id":"https:\/\/reclaimfinance.org\/site\/#website"},"primaryImageOfPage":{"@id":"https:\/\/reclaimfinance.org\/site\/en\/2022\/09\/22\/our-reaction-to-hsbc-ams-new-coal-policy\/#primaryimage"},"image":{"@id":"https:\/\/reclaimfinance.org\/site\/en\/2022\/09\/22\/our-reaction-to-hsbc-ams-new-coal-policy\/#primaryimage"},"thumbnailUrl":"https:\/\/reclaimfinance.org\/site\/wp-content\/uploads\/2022\/09\/1.-BANNER-SITEWEB18.png","datePublished":"2022-09-22T14:10:12+00:00","dateModified":"2023-02-08T10:44:51+00:00","description":"HSBC AM published today its coal policy, almost a year after its parent group HSBC announced its phasing out of coal financing.","breadcrumb":{"@id":"https:\/\/reclaimfinance.org\/site\/en\/2022\/09\/22\/our-reaction-to-hsbc-ams-new-coal-policy\/#breadcrumb"},"inLanguage":"fr-FR","potentialAction":[{"@type":"ReadAction","target":["https:\/\/reclaimfinance.org\/site\/en\/2022\/09\/22\/our-reaction-to-hsbc-ams-new-coal-policy\/"]}]},{"@type":"ImageObject","inLanguage":"fr-FR","@id":"https:\/\/reclaimfinance.org\/site\/en\/2022\/09\/22\/our-reaction-to-hsbc-ams-new-coal-policy\/#primaryimage","url":"https:\/\/reclaimfinance.org\/site\/wp-content\/uploads\/2022\/09\/1.-BANNER-SITEWEB18.png","contentUrl":"https:\/\/reclaimfinance.org\/site\/wp-content\/uploads\/2022\/09\/1.-BANNER-SITEWEB18.png","width":1350,"height":600},{"@type":"BreadcrumbList","@id":"https:\/\/reclaimfinance.org\/site\/en\/2022\/09\/22\/our-reaction-to-hsbc-ams-new-coal-policy\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Accueil","item":"https:\/\/reclaimfinance.org\/site\/"},{"@type":"ListItem","position":2,"name":"HSBC AM\u2019s new coal policy wiped out by big loopholes"}]},{"@type":"WebSite","@id":"https:\/\/reclaimfinance.org\/site\/#website","url":"https:\/\/reclaimfinance.org\/site\/","name":"Reclaim Finance","description":"Reprendre le contr\u00f4le de la finance pour le climat et la biodiversit\u00e9","publisher":{"@id":"https:\/\/reclaimfinance.org\/site\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/reclaimfinance.org\/site\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"fr-FR"},{"@type":"Organization","@id":"https:\/\/reclaimfinance.org\/site\/#organization","name":"Reclaim Finance","url":"https:\/\/reclaimfinance.org\/site\/","logo":{"@type":"ImageObject","inLanguage":"fr-FR","@id":"https:\/\/reclaimfinance.org\/site\/#\/schema\/logo\/image\/","url":"https:\/\/reclaimfinance.org\/site\/wp-content\/uploads\/2020\/03\/logo_RC_space.png","contentUrl":"https:\/\/reclaimfinance.org\/site\/wp-content\/uploads\/2020\/03\/logo_RC_space.png","width":800,"height":800,"caption":"Reclaim Finance"},"image":{"@id":"https:\/\/reclaimfinance.org\/site\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/ReclaimFinanceONG","https:\/\/x.com\/ReclaimFinance","https:\/\/www.instagram.com\/reclaimfinance\/","https:\/\/www.linkedin.com\/company\/reclaim-finance-ong-think-tank"]},{"@type":"Person","@id":"https:\/\/reclaimfinance.org\/site\/#\/schema\/person\/92f0f8d102e5e411f092871d8eeb3db1","name":"L\u00e9o Martin","image":{"@type":"ImageObject","inLanguage":"fr-FR","@id":"https:\/\/reclaimfinance.org\/site\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/cebd89becb7f7185483789d7f51a21cb?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/cebd89becb7f7185483789d7f51a21cb?s=96&d=mm&r=g","caption":"L\u00e9o Martin"},"url":"https:\/\/reclaimfinance.org\/site\/author\/lma\/"}]}},"_links":{"self":[{"href":"https:\/\/reclaimfinance.org\/site\/wp-json\/wp\/v2\/posts\/23170"}],"collection":[{"href":"https:\/\/reclaimfinance.org\/site\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/reclaimfinance.org\/site\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/reclaimfinance.org\/site\/wp-json\/wp\/v2\/users\/26"}],"replies":[{"embeddable":true,"href":"https:\/\/reclaimfinance.org\/site\/wp-json\/wp\/v2\/comments?post=23170"}],"version-history":[{"count":0,"href":"https:\/\/reclaimfinance.org\/site\/wp-json\/wp\/v2\/posts\/23170\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/reclaimfinance.org\/site\/wp-json\/wp\/v2\/media\/23172"}],"wp:attachment":[{"href":"https:\/\/reclaimfinance.org\/site\/wp-json\/wp\/v2\/media?parent=23170"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/reclaimfinance.org\/site\/wp-json\/wp\/v2\/categories?post=23170"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/reclaimfinance.org\/site\/wp-json\/wp\/v2\/tags?post=23170"},{"taxonomy":"acteurs_financiers","embeddable":true,"href":"https:\/\/reclaimfinance.org\/site\/wp-json\/wp\/v2\/acteurs_financiers?post=23170"},{"taxonomy":"thematique","embeddable":true,"href":"https:\/\/reclaimfinance.org\/site\/wp-json\/wp\/v2\/thematique?post=23170"},{"taxonomy":"webinar_type","embeddable":true,"href":"https:\/\/reclaimfinance.org\/site\/wp-json\/wp\/v2\/webinar_type?post=23170"},{"taxonomy":"programme","embeddable":true,"href":"https:\/\/reclaimfinance.org\/site\/wp-json\/wp\/v2\/programme?post=23170"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}