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HSBC lowers ESG weighting in executive pay and delays net zero target by 20 years

Climate Targets

HSBC lowers ESG weighting in executive pay and delays net zero target by 20 years

The bank is also reviewing 2030 financed emissions targets.

19 February 2025

Wells Fargo announces Chief Sustainability Officer replacement

People & Culture

Wells Fargo announces Chief Sustainability Officer replacement

Jeffrey Schub has been named Head of Sustainability.

06 February 2025

Barclays confirms Head of Sustainability’s departure

People & Culture

Barclays confirms Head of Sustainability’s departure

Barlow's responsibilities have been taken over by Daniel Hanna as Group Head of Sustainable and Transition Finance.

14 January 2025

One year left for EU banks to set up EBA-aligned ESG risk management

Sustainable Finance

One year left for EU banks to set up EBA-aligned ESG risk management

'Failing to plan is planning to fail.'

13 January 2025

JP Morgan completes Wall Street’s exodus from Net Zero Banking Alliance

JP Morgan completes Wall Street’s exodus from Net Zero Banking Alliance

All six of the top US banks have now left the climate alliance, two weeks before Donald Trump begins his second term.

07 January 2025

Concerns grow over banks’ climate commitments as GFANZ loosens mandate

Sustainable Finance

Concerns grow over banks’ climate commitments as GFANZ loosens mandate

The move comes after several financial institutions decided to leave UN-backed climate initiatives, such as NZBA.

06 January 2025

Goldman Sachs leaves NZBA ahead of capital market emissions requirements

Goldman Sachs leaves NZBA ahead of capital market emissions requirements

Earlier this year, Goldman Sachs AM also left Climate Action 100+ ahead of more stringent guidelines around oil and gas financing.

10 December 2024

HSBC, Morgan Stanley: Are banks lowering their climate ambition?

CSO Futures Weekly

HSBC, Morgan Stanley: Are banks lowering their climate ambition?

Two banks seem to move sustainability down their priorities list and one sustainability head shares what keeps her awake at night.

31 October 2024

HSBC CSO demoted from executive committee amid cost-cutting reshuffle

People & Culture

HSBC CSO demoted from executive committee amid cost-cutting reshuffle

In February, the bank was advised by its board to refocus its sustainability strategy on execution.

31 October 2024

Morgan Stanley lowers climate ambition in new round of 2030 targets

Climate Targets

Morgan Stanley lowers climate ambition in new round of 2030 targets

"The world is not on track to meet a 1.5°C scenario."

28 October 2024