Following constructive investor engagement in 2021 and 2022, HSBC has announced further commitments to deliver on its net-zero by 2050 ambition. This includes the publication of a Climate Transition Plan in 2023, and more ambitious decarbonisation targets and policies in 2022 to underpin its new pledge to phase down fossil fuel finance in alignment with 1.5C.

This briefing outlines recommendations for further engagement with HSBC to ensure these pledges are credible and delivered on time.