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Press Release: HSBC special adviser Nicholas Stern shares vision of low-carbon economy

Lord Nicholas Stern, the Special Adviser to the HSBC Group Chairman on Economic Development and Climate Change, is in Hong Kong to meet HSBC executives and customers as well as the public to outline a vision of a low-carbon economy and the new business opportunities it brings.
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UK: Environmental Groups Condemn Banks for Supporting High Carbon Coal Projects

A report released by a group of environmentalists – Friends of the Earth Scotland, Platform and People and Planet has tarnished the green reputation of the Royal Bank of Scotland (RBS), Barclays and HSBC by bringing to light the fact that these financial institutions continue to undertake heavy investments in high carbon projects, including coal plants.

The report brings to the fore the inconsistency that plagues the actions of the banks, who on the one hand invest in renewable energy in a bid to better the environment but on the other , shell out huge loans to coal-related firms.

RBS argued that investing in coal projects gave the bank the opportunity to ensure that such projects adopt eco-friendly practices. However, Friends of the Earth were not satisfied :

“Arguing that you are pushing for firms to embrace carbon capture is not enough

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