HSBC (HSBC) said Wednesday it now aims to achieve net zero in operations, travel and supply chain by 2050 instead of a previous target of 2030.
The bank said it remains on track for a 90% reduction in scope 1 and 2 emissions by 2030, but scope 3 supply chain reductions have been slower than anticipated. HSBC said it expects a 40% reduction in emissions from operations, travel, and supply chains by 2030.
The revision follows an annual review of HSBC's net-zero transition plan, which was first unveiled in January 2024.
HSBC shares were 1% lower in recent premarket activity.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.