Posted on 12/16/2022 5:56:00 AM PST by DFG
Multinational investment bank HSBC announced that it will no longer finance new oil and gas projects in order to meet the green agenda goals of globalist elites.
The largest bank in Europe, which has nearly three trillion dollars in assets, has said that it will no longer finance new oil or gas fields to supposedly meet its commitments to achieving the UK government’s goal of reaching net zero carbon emissions by the year 2050.
According to a report from the BBC, HSBC came to the decision after “follow[ing] consultation with leading scientific and international bodies”. In 2020, the British bank already committed to investing £806 billion ($1 trillion) into supposedly green energy sources as well as committing to net zero.
(Excerpt) Read more at breitbart.com ...
When I see the oil and gas industry start to fight back, I’ll join them. Not before.
But hey, they met their carbon targets...
HSBC is actually Chinese, isn’t it?
Analysis: U.S. LNG exports to Europe on track to surpass Biden promise
U.S. pledges to ramp up supplies of natural gas to Britain as Biden and Sunak seek to cut off Russia
U.S. Coal Exports To Europe Up 46% By Weight, 184% By Value
And not just Europe. On this last one check out the bit about US exports to China...
U.S. Oil Refiners Are More Profitable Than Before The Pandemic
ChiCom, anyway.
Cut them off now and let them freeze, then starve.
“Europe’s Largest Bank to Halt Financing of New Oil and Gas Projects”
Take that, Putin!!!!
See my reply #5.
“Analysis: U.S. LNG exports to Europe on track to surpass Biden promise
U.S. pledges to ramp up supplies of natural gas to Britain as Biden and Sunak seek to cut off Russia
U.S. Coal Exports To Europe Up 46% By Weight, 184% By Value”
Well, it’s nice of the Europeans to IMPOVERISH themselves to ENRICH the United States, but they may want to consider that it’s only a short while before we find that our wonderful promises to them will also not receive funding.
Mark Tucker of HSBC . Tucker is a member of the Board of Directors of Goldman Sachs. He served as the CEO and president of Asian focus insurer AIA Group from June 2009 to September 2017, where he successfully led the former Asian assurance arm of New York-based American International Group (AIG) for an IPO on the Hong Kong Stock Exchange in October 2010. It raised approximately HK$159.08 billion (US$20.51 billion), the world’s third largest IPO ever. Tucker was appointed to the board as a non-executive director and group chairman-designate of HSBC Holdings plc on 1 September 2017. He became non-executive group chairman on 1 October 2017, succeeding executive chairman Douglas Flint, who retired.
It’s all very incestuous, doncha know.
Europe is in a hole, millions can’t pay their utility bills, many will literally freeze in coming months and The Elite’s (bankers, politicians, legislators, billionaires, socialists, marxist’s, CEO’s of big corps, board members, media) just keep on digging their collective hole deeper.
To think thousands of our sons died for these creeps is nauseating.
Literally, self destruction.
HSBC has also come under criticism for its close relationship with the world’s number one polluter, Communist China.
A better understanding of how Biden’s plan works Xi much happy China will get all the drilling permits off our shore before it’s over with.
As the democrats call it
THE NEW DEMOCRAT WORLD ORDER
There used to be “industrial” oriented banks…like Chemical Bank and Manufacturers Bank. Even Bank of America was formed to provide banking for Italian fishermen in San Francisco ( originally called the Bank of Italy)
It makes no sense to finance something that may be declared illegal and thus decline to zero value.
Maybe the bank should stop using oil based products.
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