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Bank policy scan: HSBC accelerates backsliding on fossil fuel commitments

While attention has focused on HSBC’s new net-zero transition plan, the bank has simultaneously weakened core sustainability risk policies.
The policy change On November 6, 2025, HSBC (UK) updated its Sustainability Risk Policies Framework, rolling back several fossil fuel–related commitments. The previous version dated from February 2025. Why this is important Five years ago, HSBC was one of the first banks globally to set a net-zero-by-2050 target for its financed emissions. Now, it has become one of the clearest examples of climate…
2025-12-01 | BankTrack
Blog
BankTrack news BankTrack blog Partner news Partner blog

Bank policy scan: HSBC accelerates backsliding on fossil fuel commitments

While attention has focused on HSBC’s new net-zero transition plan, the bank has simultaneously weakened core sustainability risk policies.
2025-12-01 | BankTrack
Blog
BankTrack news BankTrack blog Partner news Partner blog

Extensive financial ties between European financial institutions and companies linked to occupation, apartheid and genocide in Palestine

2025-11-25 | BankTrack, Don't Buy Into Occupation
Blog
BankTrack news BankTrack blog Partner news Partner blog

TotalEnergies faces criminal complaint for complicity in war crimes, torture and enforced disappearance in Mozambique

2025-11-18 | Berlin, Paris, Maputo | ECCHR, Friends of the Earth Europe, Justiça Ambiental (JA!)/Friends of the Earth Mozambique, Les Amis de la Terre France
Blog
BankTrack news BankTrack blog Partner news Partner blog

European banks pour nearly €8 billion a year into critical minerals mining despite links to human rights and environmental abuses

Meanwhile, the EU rolls back and weakens its sustainability and green rules
2025-11-17 | 11.11.11, Fair Finance International, Oxfam
Blog
BankTrack news BankTrack blog Partner news Partner blog

Global Banks persist in financing LNG expansion in Mozambique intensifying violence, displacement and environmental devastation

BankTrack blog
2025-11-14 | BankTrack, Justiça Ambiental (JA!)/Friends of the Earth Mozambique, Rainforest Action Network
Blog
BankTrack news BankTrack blog Partner news Partner blog

Despite reaching FID, Coral North FLNG project is drowning in financial uncertainties

2025-11-13 | BankTrack, urgewald, Friends of the Earth Japan, Justiça Ambiental (JA!)/Friends of the Earth Mozambique, Les Amis de la Terre France, Reclaim Finance, ReCommon
Blog
BankTrack news BankTrack blog Partner news Partner blog

JPMorgan Chase quietly adds restrictions to fossil fuel financing in the Amazon rainforest

At COP30, experts acknowledge this step and underscore the need for a policy that fully ends financing to oil and gas in the Amazon.
2025-11-13 | Stand.earth
Blog
BankTrack news BankTrack blog Partner news Partner blog

Big four Australian banks fund major fossil fuel firms $43 billion in 10 years

The research finds that ANZ and Westpac stand out as Australia’s fossil fuel banks, accounting for over 80 percent of all lending from the big four banks to major fossil fuel companies across 2024 and 2025.
2025-11-12 | Market Forces
Blog
BankTrack news BankTrack blog Partner news Partner blog

New analysis shows bank responses to human rights enquiries worsening

Update of BankTrack’s Response Tracking database shows under 5% of banks responded constructively to recent issues raised by civil society, underlining need for stronger regulation
BankTrack blog
2025-11-11 | Oriane Bui – BankTrack
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Upcoming events
Dec11

Westpac Annual General Meeting 2025

Thu Dec 11 2025 10:00 AM (UTC+11) Sydney, Australia AGM
Dec12

National Australia Bank (NAB) Annual General Meeting 2025

Fri Dec 12 2025 12:00 AM (UTC+11) AGM
Dec18

ANZ Annual General Meeting 2025

Thu Dec 18 2025 9:00 AM (UTC+11) Sydney, Australia AGM
All events
Spotlight
New report: Banking on Biodiversity Collapse 2025
After ten years of paper promises, it’s time to regulate finance
New Response Tracking update shows bank responses to human rights enquiries worsening
Update shows under 5% of banks responded constructively to recent issues raised by civil society. Read the analysis.
Fossil fuel blocklist
Take action with Market Forces! Tell the big four Australian banks these 23 blocklisted fossil fuel companies are now off limits – fund them at your own peril.
Target Dodgy Deals

East African Crude Oil Pipeline (EACOP)

Uganda | project

CoreCivic

United States | company

JSW Utkal Steel plant and captive coal power station

India | project

Mozambique LNG

Mozambique | project

Perusahaan Listrik Negara (PLN)

Indonesia | company

Adani Group

India | company

Simandou Iron Ore Project

Guinea | project

GEO Group

United States | company
All Dodgy Deals
Focus banks

UBS

Switzerland

On October 28th, the Swiss OECD National Contact Point announced that UBS had refused mediation with BankTrack and Worth Rises over an OECD complaint on the bank's private prison investments - the first time a European commercial bank has refused OECD complaint mediation.

Standard Chartered

United Kingdom

In October, it was announced that Standard Chartered is replacing Crédit Agricole as financial advisor for the Rovuma LNG project in Cabo Delgado, Mozambique. Crédit Agricole pulled out of the project in March 2024.

HSBC

United Kingdom

In November, HSBC published its Sustainability Risk Policies Framework. The bank removed previous commitments and opened the door for more fossil fuel financing.

ANZ

Australia

A recent report from Market Forces highlights ANZ as the biggest funder of fossil fuels among Australian banks, having loaned or arranged over $15.9 billion for companies in the Global Coal, Oil and Gas Exit Lists in the last decade. Its AGM is on Dec 18th.

All banks
Campaigns and projects

Banks and Climate

Banks and Human Rights

Banks and Nature

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Latest publications
Banking on Biodiversity Collapse 2025
2025-11-05 00:00:00 | Forests & Finance
EACOP Finance Risk Update #6
2025-10-23 00:00:00 | BankTrack & partners
Mining and Money
2025-09-03 00:00:00 | Forests & Finance Coalition including: Rainforest Action Network, TuK Indonesia, Profundo, Amazon Watch, Milieudefensie, CED Cameroon, Repórter Brasil, BankTrack, Sahabat Alam Malaysia, Friends of the Earth US and Observatório da Mineração
Banking on climate chaos 2025
2025-06-17 00:00:00 | BankTrack, urgewald, Center for Energy, Ecology and Development (CEED), Indigenous Environmental Network, Oil Change International, Rainforest Action Network, Reclaim Finance & Sierra Club
All publications
BankTrack in the Media
UBS faces OECD scrutiny over human rights risks in passive investments
2025-11-03 00:00:00
|
The Banker
Trump sorgt für Boom bei US-Gefängnissen – und die UBS gerät deswegen in die Kritik
2025-10-29 00:00:00
|
Tages Anzeiger
TotalEnergies criticised for lifting force majeure on US$20bn Mozambique LNG project
2025-10-29 00:00:00
|
Global Trade Review
BankTrack op-ed: The NZBA was bad news for climate finance
2025-10-08 00:00:00
|
The Banker
All BT in the media
External News
UK’s Starmer has righted wrong, says OCI on reports of withdrawal from controversial Mozambique LNG project
2025-12-01 00:00:00
|
Oil Change International
No major banks have yet committed to stop funding new oil, gas and coal, research finds
2025-10-22 00:00:00
|
The Guardian
Barclays latest British lender to quit climate banking alliance
2025-08-01 00:00:00
|
Reuters
UniCredit presence in Russia poses sanctions risk, Italy FinMin says
2025-07-30 00:00:00
|
Reuters
All external news
Website updates
On 2025-12-01 15:43:55 we updated the JPMorgan Chase bank page.
On 2025-12-01 15:29:46 we updated the Goldman Sachs bank page.
On 2025-12-01 14:38:35 we updated the Danske Bank bank page.
On 2025-12-01 13:56:46 we updated the Agricultural Bank of China bank page.
On 2025-12-01 13:41:42 we updated the First Commercial Bank bank page.

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Raiffeisen Out! Bank.Green End Coal Finance Plastic Banks Tracker Defund TotalEnergies Financial Exclusions Tracker Equator-Complaints.Org Don't Buy into Occupation Banks & Biodiversity Forests & Finance Drop JBS StopEACOP Fossil-Free Finance
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