HSBC and the Garzweiler coal mine

Motion Text

That this House notes the role of HSBC in allowing for the expansion of the Garzweiler opencast coal mine in Germany; highlights reports that HSBC made a secretive multimillion-dollar loan to the energy company involved, RWE; considers this to be in contravention of HSBC’s stated commitment to withdraw financing from clients that are expanding the production of thermal coal and phase out funding for coal-fired power and thermal coal mining; believes that reports stating HSBC told RWE not to publicise the bank’s involvement indicate that HSBC is aware that providing these funds runs against its own stated policies and commitments; and calls on HSBC to stand by its own climate commitments and halt funding to organisations involved in the expansion of coal mining.