Time to end ‘negative bias’ towards fossil fuels, says HSBCThe new head of sustainability at HSBC Holdings plc says the time has come for banks to stop penalising clients that have a large carbon footprint.
Julian Wentzel, who was appointed as the chief sustainability officer at Europe’s largest bank this month, said an overly restrictive policy towards fossil fuels puts at risk the reliable supply of energy, and may even undermine the transition to a low-carbon future.