A British watchdog Wednesday hit out at HSBC for adverts promoting its green initiatives that failed to highlight the bank's contributions to greenhouse gas emissions.

The Advertising Standards Authority said in a statement that it had banned further use of HSBC posters that appeared a year ago ahead of the COP26 climate summit hosted by Britain.

ASA found that "despite the initiatives highlighted in the ads, HSBC was continuing to significantly finance investments in businesses and industries that emitted notable levels of carbon dioxide and other greenhouse gasses".

The watchdog "concluded that the ads omitted material information and were therefore misleading".

The posters, seen at bus stops in London and Bristol, western England, featured images of nature alongside HSBC pledges of massive green financing as well as help towards the planting of two million trees.

Responding to the ban, HSBC insisted that "the financial sector has a responsibility to communicate its role in the low carbon transition to raise public awareness and engage its customers".

But it acknowledged the need to "consider how best to do this" as it delivers the bank's "ambitious net zero commitments".

UK multinationals, seeking to meet a British government target of net zero carbon emissions by 2050, are frequently accused of "greenwashing" by environmentalists.

The term refers to corporate efforts to promote often spurious environmental measures to keep customers on board and is an accusation currently being thrown at companies worldwide.

bcp/rfj/lcm

HSBC

Related Links
Climate Science News - Modeling, Mitigation Adaptation

Tweet

Thanks for being here; We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain. With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords. Our news coverage takes time and effort to publish 365 days a year. If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor $5 Billed Once credit card or paypal		SpaceDaily Monthly Supporter $5 Billed Monthly paypal only

German youths take climate case against govt to European court
Berlin (AFP) Oct 18, 2022
Climate activists who won a landmark case against the German government last year are now taking their case to the European Court of Human Rights, an organisation representing them said on Tuesday. The group of nine young environmentalists are unhappy with the government's climate plan in response to their legal victory, according to campaign group Deutsche Umwelthilfe (DUH). "The government is not fulfilling its obligations. The climate crisis continues to threaten to destroy our livelihoods an ... read more