Despite backtracking on climate commitments, HSBC says it is ‘more ambitious’ on its net-zero strategy

[SINGAPORE] Europe’s largest bank HSBC said that it is “more ambitious” in its net-zero strategy, despite previously pushing back on its climate targets.

The bank’s global head of sustainable finance and transition Natalie Blyth told The Business Times that it is focusing on commercialisation in the next phase of its sustainable financing road map, instead of just target setting. 

“So we haven’t delayed anything on the commercialisation strategy. The delay that people focus on is the Scope 1 and 2 commitments,” said Blyth, who spoke to BT on the launch of a new financing facility for China’s low-carbon industries.