HSBC lowers ESG weighting in executive pay and delays net zero target by 20 years
The bank is also reviewing 2030 financed emissions targets.
HSBC has delayed a 2030 goal to achieve net zero emissions in its operations and supply chain to 2050 and reduced the weighting of environmental KPIs in its executive incentive scheme.
The bank says it is on track to reduce Scope 1 and 2 emissions by more than 90% by 2030, but has faced challenges in reducing supply chain emissions due to the “slower pace of the transition across the real economy”.
