Schroders and Hermes are among a group of investors pressing HSBC to drop its financing of coal power plants in three south-east Asian countries — the only exceptions to a climate-friendly energy policy the bank introduced last year.
The UK fund managers and their allies have put their names to a letter sent to John Flint, chief executive of HSBC. They argue the bank should fall into line with peers such as Barclays and Standard Chartered and call a complete halt to financing new coal plants anywhere in the world.
