HSBC Holdings PLC has announced its decision to leave the Net Zero Banking Alliance.

The company’s departure from the alliance follows the exit of several major US banks. This move has raised concerns regarding HSBC’s commitment to addressing the climate crisis.

Key Facts:

• HSBC remains committed to achieving net-zero emissions across its business by mid-century.
• The company has been exploring the use of blockchain technology, including Ethereum, as part of Hong Kong’s digital currency pilot.
• HSBC has invested in a new London wealth centre, despite a decline in non-dom clients.

Notable Developments:

• HSBC’s decision to leave the Net Zero Banking Alliance has sparked concerns over its commitment to tackling the climate crisis.
• The company’s continued investment in new technologies, such as blockchain, suggests a focus on innovation and digital transformation.
• The opening of a new London wealth centre demonstrates HSBC’s commitment to expanding its services and presence in key markets.