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HSBC clients must publish coal exit strategy by 2023, or face losing finance
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HSBC’s clients must publish a plan to exit coal by the end of 2023, or the bank could cut their financing.
“If no transition plans are produced, HSBC will need to assess whether to continue to provide financing for that client, as there will be no basis on which to assess alignment with HSBC’s commitment to phase out coal financing,” the bank said in a 14 December statement.
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