ESG & Investing
HSBC Says Greenwash Risks Have Potential to Impede Market Access
Bank adds `greenwashing’ to list of risks as global regulators move to clamp down on overhyped climate claims.
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HSBC Holdings Plc is adding “greenwashing” to a list of risks it says have the potential to affect a bank’s access to capital markets.
“If we are perceived to mislead stakeholders on our business activities or if we fail to achieve our stated net-zero ambitions, we could face greenwashing risk resulting in significant reputational damage, impacting our revenue generating ability and potentially our access to capital,” HSBC said in its annual report on Tuesday.