We have already revealed that the HSBC is funding £75 billion worth of fossil fuel projects worldwide. And it is no secret that these projects are not only the cause of the displacement of entire villages and local environmental degradation – but also of accelerating CO2 emissions that are already causing catastrophic changes to the climate. What remains a secret is the level of CO2 emissions HSBC is responsible for through its funding of companies and fossil fuel projects.
You don’t have to search for long to find examples of devastating consequences of projects funded by HSBC money. Just take a look at the Niger Delta in Nigeria where Shell’s presence as the biggest and most destructive multinational oil corporation is devastating the local environment, breaking human rights, and providing no benefits for the local environment.
Look at the mining of tar sands in Canada which has not only destroyed vast amount of lands and displaced local communities – as the world’s biggest industrial project, it also has the capacity to emit twice as much CO2 as has been emitted in human history so far.
Or take a look at Madagascar where Total oil has secured the rights for mining even more tar sand despite the catastrophic consequences this will have for local communities and the climate.
Tar sand mining in Alberta, Canada - photo:Colin Baines
All of these projects and companies receive funding through HSBC. While there is little doubt about the dire consequences of these projects, it still remains unclear exactly how much CO2 HSBC is responsible for emitting. If we want to challenge HSBC’s funding of climate change and destructive fossil fuel projects, the first step is to make them admit how much they emit.
Make HSBC admit what they emit!
This Friday HSBC is holding its annual general meeting in London. We will be protesting outside. You can join our campaign by emailing HSBC boss Brian Robertson and asking him to pledge that they will report on the emissions they are financing around the world.
Don’t let this be for HSBC’s eyes only!