HSBC plans to phase out coal financing by 2040
11/03/2021 | news | business | 118
The bank will ask investors to back the plan following pressure from a shareholder campaign group.
1
11/03/2021 14:58:14 5 10
bbc
Renewables are the way forward.

Period.
8
11/03/2021 15:15:52 6 2
bbc
I agree but...
It is very complex. Unless you and I give up cars, aeroplanes, train travel etc. we will still need coal (the chemical variety, not thermal coal) as no one has yet created a way to make steel economically in bulk, without it. Electric arc furnaces can be used to remelt and process scrap but that is a finite global commodity and insufficient to meet demand.
10
11/03/2021 15:20:19 1 2
bbc
Worldwide birth control is the way forward.
41
11/03/2021 16:17:08 1 2
bbc
So last week when renewables in the UK struggled to produce a reliable 1.2GW does make your comment farcical. We need an average of 35GW that excludes heatpumps & EVs

So how do we store 1 weeks of electrical demand in the UK? If you cant even hazard a practical guess then your views are no more than political-science-denial dogma!

Any ideas?
2
11/03/2021 15:04:11 3 10
bbc
Britain wants to bring back coal in order to pander to Red Wall voters.

The environment doesn't come into it.
6
11/03/2021 15:15:12 4 2
bbc
I bet everyone seems right wing to you when you are sat at the left pole eh straw!
11
11/03/2021 15:22:18 2 2
bbc
With attitudes like that is it any wonder why they've abandoned the Labour party & left wing politics ?
18
11/03/2021 15:27:07 3 1
bbc
Nobody in their right mind would volunteer to work down a coal mine, certainly not these days ... after all how would you get wifi down there to post on Facebook and Instagram ?
55
11/03/2021 17:03:09 1 1
bbc
Is there anyone who is more leftwing than you?
3
11/03/2021 15:07:45 9 1
bbc
Go on, then: why is HSBC lending coal?
4
11/03/2021 15:10:15 21 8
bbc
Which is better for the environment:
coal hewn in the UK and used in the UK; or
coal hewn in Australia/China, shipped around the globe, and used in the UK?
15
11/03/2021 15:24:35 13 16
bbc
Neither, they both need to be left in the ground. Removing finance should help achieve that.
5
11/03/2021 15:14:24 22 3
bbc
"Plans" to do it by 2040? Wow, there's some real corporate urgency there then. I wonder how many of the C-Suite decision makers will be around to see that policy land and how much impact they'll feel if it doesn't?
16
11/03/2021 15:25:33 13 14
bbc
Yes, I agree ... we should be doing it much sooner.

Tell you what let's just shut down all coal fired power stations worldwide tomorrow and stop consuming oil / petrol as well - think of the environmental effect ... as we plunge hundreds of millions of people onto the dole and make everyone else live like we're in the dark ages.
2
11/03/2021 15:04:11 3 10
bbc
Britain wants to bring back coal in order to pander to Red Wall voters.

The environment doesn't come into it.
6
11/03/2021 15:15:12 4 2
bbc
I bet everyone seems right wing to you when you are sat at the left pole eh straw!
7
11/03/2021 15:15:49 4 3
bbc
"its new resolution... needs the support of 75% of shareholders"

I think that if very rich people were willing to sacrifice some of their income to help protect the environment they'd be doing it already
1
11/03/2021 14:58:14 5 10
bbc
Renewables are the way forward.

Period.
8
11/03/2021 15:15:52 6 2
bbc
I agree but...
It is very complex. Unless you and I give up cars, aeroplanes, train travel etc. we will still need coal (the chemical variety, not thermal coal) as no one has yet created a way to make steel economically in bulk, without it. Electric arc furnaces can be used to remelt and process scrap but that is a finite global commodity and insufficient to meet demand.
17
11/03/2021 15:26:45 2 2
bbc
This isn't a matter of choice if we don't give up carbon very soon we won't be here to argue about it.
9
11/03/2021 15:18:14 20 1
bbc
Given the headline you could be forgiven for mistaking that HSBC was in the business of lending coal and not money.
56
11/03/2021 17:05:15 11 1
bbc
Ah, seems like the penny has dropped in the BBC editorial department and they've now changed it to financing instead of lending.
1
11/03/2021 14:58:14 5 10
bbc
Renewables are the way forward.

Period.
10
11/03/2021 15:20:19 1 2
bbc
Worldwide birth control is the way forward.
2
11/03/2021 15:04:11 3 10
bbc
Britain wants to bring back coal in order to pander to Red Wall voters.

The environment doesn't come into it.
11
11/03/2021 15:22:18 2 2
bbc
With attitudes like that is it any wonder why they've abandoned the Labour party & left wing politics ?
12
11/03/2021 15:22:57 7 7
bbc
HSBC is a chinese bank and I'm not certain that we should be trusting their motives here.
13
11/03/2021 15:24:10 10 5
bbc
Considering that HSBC is just a Chinese puppet you would think they may want to lend for coal a bit longer than 2040, glad they are not, wish it was stopping sooner
14
11/03/2021 15:24:33 24 4
bbc
Coal is used in steel making. It is also used in other chemical processes. No coal no steel. Coal provides the vital carbon in the process.
True and we need a mine

But we don't need it for the 'process' reduction can be achieved by electrolysis or with hydrogen
33
11/03/2021 15:58:25 0 2
bbc
no coal = no solar panels
4
11/03/2021 15:10:15 21 8
bbc
Which is better for the environment:
coal hewn in the UK and used in the UK; or
coal hewn in Australia/China, shipped around the globe, and used in the UK?
15
11/03/2021 15:24:35 13 16
bbc
Neither, they both need to be left in the ground. Removing finance should help achieve that.
19
11/03/2021 15:29:07 4 5
bbc
Feel free to go and protest in Tiananmen Square or Red Square and let us know how you get on by postcard, that's if they allow postcards to be sent from their prisons.
39
11/03/2021 16:12:25 5 2
bbc
Seems as if you dont understand how steel is made in the current universe. Yes there is research that may make coal redundant in 15 years time. But its not guaranteed, unless you know something the rest of us dont
40
11/03/2021 16:14:49 6 2
bbc
So stop buying anything made of steel and buy plastic instead - hang on, is plastic not made from coal and oil, and bad for the environment?
5
11/03/2021 15:14:24 22 3
bbc
"Plans" to do it by 2040? Wow, there's some real corporate urgency there then. I wonder how many of the C-Suite decision makers will be around to see that policy land and how much impact they'll feel if it doesn't?
16
11/03/2021 15:25:33 13 14
bbc
Yes, I agree ... we should be doing it much sooner.

Tell you what let's just shut down all coal fired power stations worldwide tomorrow and stop consuming oil / petrol as well - think of the environmental effect ... as we plunge hundreds of millions of people onto the dole and make everyone else live like we're in the dark ages.
20
11/03/2021 15:31:37 6 3
bbc
Or let's carry on as usual for another twenty years, and then live in the dark ages anyway (hated by our desendents), when the hoped for miracle doesn't materialise just so that we can maintain the staus quo today?
8
11/03/2021 15:15:52 6 2
bbc
I agree but...
It is very complex. Unless you and I give up cars, aeroplanes, train travel etc. we will still need coal (the chemical variety, not thermal coal) as no one has yet created a way to make steel economically in bulk, without it. Electric arc furnaces can be used to remelt and process scrap but that is a finite global commodity and insufficient to meet demand.
17
11/03/2021 15:26:45 2 2
bbc
This isn't a matter of choice if we don't give up carbon very soon we won't be here to argue about it.
42
11/03/2021 16:19:02 1 2
bbc
Really according to whom? Not the IPCC probable forecasts. Possible if you use one of the early IPCC forecasts that they have abandoned. Do you know who the IPCC is? or what they do?
2
11/03/2021 15:04:11 3 10
bbc
Britain wants to bring back coal in order to pander to Red Wall voters.

The environment doesn't come into it.
18
11/03/2021 15:27:07 3 1
bbc
Nobody in their right mind would volunteer to work down a coal mine, certainly not these days ... after all how would you get wifi down there to post on Facebook and Instagram ?
23
11/03/2021 15:31:49 0 1
bbc
Hilarious.........................
15
11/03/2021 15:24:35 13 16
bbc
Neither, they both need to be left in the ground. Removing finance should help achieve that.
19
11/03/2021 15:29:07 4 5
bbc
Feel free to go and protest in Tiananmen Square or Red Square and let us know how you get on by postcard, that's if they allow postcards to be sent from their prisons.
57
11/03/2021 17:07:39 1 2
bbc
I think it will be protests in Australia rather than in China as China is the leader in alternative energy sources such as solar & other renewables, and would be happy to reduce coal imports.
It is Australia which depends on exports of coal to China and Australia the largest coal exporter in the world by far. Most to China for steel production and that is reducing as well.
16
11/03/2021 15:25:33 13 14
bbc
Yes, I agree ... we should be doing it much sooner.

Tell you what let's just shut down all coal fired power stations worldwide tomorrow and stop consuming oil / petrol as well - think of the environmental effect ... as we plunge hundreds of millions of people onto the dole and make everyone else live like we're in the dark ages.
20
11/03/2021 15:31:37 6 3
bbc
Or let's carry on as usual for another twenty years, and then live in the dark ages anyway (hated by our desendents), when the hoped for miracle doesn't materialise just so that we can maintain the staus quo today?
38
11/03/2021 16:10:14 2 4
bbc
Ashface seems to be one of the alarmists who havent seen that his views are **not** supported by the IPCC probable forecasts.

Some of the pressure will create new solutions and push technology forward. I worry that the eco-mob will not be happy with the progress as too many seem to want political change rather than improvement
21
11/03/2021 15:32:12 5 13
bbc
When will woke realise they're gonna make us all a lot colder and the basics of life considerably more expensive?

The left - destroying the West one virtue at a time.
25
11/03/2021 15:43:39 9 3
bbc
You know it's cheaper to generate electricity from renewables than coal in the UK already. Cost reduction for renewables should scale a lot better than cost reduction for extracting from underground (better techniques offset by having to dig deeper etc). Also the sooner we invest and prioritise renewables sector the more that is based in UK over the next decades...
28
11/03/2021 15:47:55 1 2
bbc
Colder? I thought we were getting warmer!
14
11/03/2021 15:24:33 24 4
bbc
Coal is used in steel making. It is also used in other chemical processes. No coal no steel. Coal provides the vital carbon in the process.
22
11/03/2021 15:32:13 7 4
bbc
True and we need a mine

But we don't need it for the 'process' reduction can be achieved by electrolysis or with hydrogen
37
11/03/2021 16:07:26 1 1
bbc
Then start praying that an economic viable solution is created. At the moment there isnt
18
11/03/2021 15:27:07 3 1
bbc
Nobody in their right mind would volunteer to work down a coal mine, certainly not these days ... after all how would you get wifi down there to post on Facebook and Instagram ?
23
11/03/2021 15:31:49 0 1
bbc
Hilarious.........................
24
11/03/2021 15:42:43 28 2
bbc
Virtue-signalling by huge corporations has always been part of their advertising strategy.
21
11/03/2021 15:32:12 5 13
bbc
When will woke realise they're gonna make us all a lot colder and the basics of life considerably more expensive?

The left - destroying the West one virtue at a time.
25
11/03/2021 15:43:39 9 3
bbc
You know it's cheaper to generate electricity from renewables than coal in the UK already. Cost reduction for renewables should scale a lot better than cost reduction for extracting from underground (better techniques offset by having to dig deeper etc). Also the sooner we invest and prioritise renewables sector the more that is based in UK over the next decades...
30
11/03/2021 15:52:23 3 3
bbc
Your argument on cost is flawed.
The new proposed Cumbrian Coal Mine under cuts renewables by 30% and also reduces Climate impact by avoiding importing from overseas.
34
11/03/2021 16:04:56 2 1
bbc
What a foolish comment. Last week the renewables was so unreliable that coal, & imports **had** to be used to keep the UK functioning.

https://gridwatch.co.uk/Renewables

Of course you have a practical solution for when the renewables only generate 1.2GW when we need in excess of 35GW? Thats before EVs, HeatPumps etc.
btw there is +35GW of installed Wind & Solar at the moment.
47
11/03/2021 16:32:31 2 1
bbc
How efficient and how much electricity does a wind turbine produce when there is no wind? Or in more relatable terms, how many kettles does that boil?
26
11/03/2021 15:44:01 5 9
bbc
Everyone realises that carbon dioxide represents 0.04% of the atmosphere, don't they? That it's a trace gas, necessary for photosynthesis, and that human activity produces between 6 gigatons and 40 gigatons annually, compared to the 750 gigatons produced naturally (unavoidable burning of underground coal seams). I mean, we do KNOW this, don't we? Because we seem to have become a little hysterical.
46
11/03/2021 16:27:56 4 5
bbc
What is you point? Needles don't break camel's backs? There's not such thing as a tipping point? Flinging around a lot of numbers makes you an expert? Writing in capitals does make you clever?
27
11/03/2021 15:46:04 3 6
bbc
Stop coal lending by 2040

That's fine by me. I think everyone will have forgotten the whole fuss by then anyway
31
11/03/2021 15:53:06 3 5
bbc
That is the sort of comment people were making about Covid-19 a year ago.
21
11/03/2021 15:32:12 5 13
bbc
When will woke realise they're gonna make us all a lot colder and the basics of life considerably more expensive?

The left - destroying the West one virtue at a time.
28
11/03/2021 15:47:55 1 2
bbc
Colder? I thought we were getting warmer!
35
11/03/2021 16:05:46 2 2
bbc
Yep the planet is on fire according to the science illiterate alarmists ??
29
11/03/2021 15:50:37 12 4
bbc
This means HSBC don't care a sh*t.
25
11/03/2021 15:43:39 9 3
bbc
You know it's cheaper to generate electricity from renewables than coal in the UK already. Cost reduction for renewables should scale a lot better than cost reduction for extracting from underground (better techniques offset by having to dig deeper etc). Also the sooner we invest and prioritise renewables sector the more that is based in UK over the next decades...
30
11/03/2021 15:52:23 3 3
bbc
Your argument on cost is flawed.
The new proposed Cumbrian Coal Mine under cuts renewables by 30% and also reduces Climate impact by avoiding importing from overseas.
27
11/03/2021 15:46:04 3 6
bbc
Stop coal lending by 2040

That's fine by me. I think everyone will have forgotten the whole fuss by then anyway
31
11/03/2021 15:53:06 3 5
bbc
That is the sort of comment people were making about Covid-19 a year ago.
32
11/03/2021 15:58:08 1 4
bbc
ShareAction isnt too bad, espically compared to some of the other lobby groups.

I dont like coal as a power source as it stands but I do wish they phrased it differently as it doesnt allow **any** improvement. Its not the source, its the pollution & emissions thats important. If there is research into making coal 100% pollution free then HSBC & ShareAction can not invest in it, not 1 cent!
14
11/03/2021 15:24:33 24 4
bbc
Coal is used in steel making. It is also used in other chemical processes. No coal no steel. Coal provides the vital carbon in the process.
33
11/03/2021 15:58:25 0 2
bbc
no coal = no solar panels
25
11/03/2021 15:43:39 9 3
bbc
You know it's cheaper to generate electricity from renewables than coal in the UK already. Cost reduction for renewables should scale a lot better than cost reduction for extracting from underground (better techniques offset by having to dig deeper etc). Also the sooner we invest and prioritise renewables sector the more that is based in UK over the next decades...
34
11/03/2021 16:04:56 2 1
bbc
What a foolish comment. Last week the renewables was so unreliable that coal, & imports **had** to be used to keep the UK functioning.

https://gridwatch.co.uk/Renewables

Of course you have a practical solution for when the renewables only generate 1.2GW when we need in excess of 35GW? Thats before EVs, HeatPumps etc.
btw there is +35GW of installed Wind & Solar at the moment.
28
11/03/2021 15:47:55 1 2
bbc
Colder? I thought we were getting warmer!
35
11/03/2021 16:05:46 2 2
bbc
Yep the planet is on fire according to the science illiterate alarmists ??
36
11/03/2021 16:07:03 1 2
bbc
Well done HSBC
True and we need a mine

But we don't need it for the 'process' reduction can be achieved by electrolysis or with hydrogen
37
11/03/2021 16:07:26 1 1
bbc
Then start praying that an economic viable solution is created. At the moment there isnt
20
11/03/2021 15:31:37 6 3
bbc
Or let's carry on as usual for another twenty years, and then live in the dark ages anyway (hated by our desendents), when the hoped for miracle doesn't materialise just so that we can maintain the staus quo today?
38
11/03/2021 16:10:14 2 4
bbc
Ashface seems to be one of the alarmists who havent seen that his views are **not** supported by the IPCC probable forecasts.

Some of the pressure will create new solutions and push technology forward. I worry that the eco-mob will not be happy with the progress as too many seem to want political change rather than improvement
85
11/03/2021 20:07:55 1 3
bbc
The IPCC has been criticized for "consistently underestimating the pace and impacts of global warming" and that "temperatures and sea levels have been rising at or above the maximum rates proposed during IPCC's 2001 Third Assessment Report." and that "previous estimates by the IPCC, far from overstating dangers and risks, have actually understated them." Go back to sleep.
15
11/03/2021 15:24:35 13 16
bbc
Neither, they both need to be left in the ground. Removing finance should help achieve that.
39
11/03/2021 16:12:25 5 2
bbc
Seems as if you dont understand how steel is made in the current universe. Yes there is research that may make coal redundant in 15 years time. But its not guaranteed, unless you know something the rest of us dont
15
11/03/2021 15:24:35 13 16
bbc
Neither, they both need to be left in the ground. Removing finance should help achieve that.
40
11/03/2021 16:14:49 6 2
bbc
So stop buying anything made of steel and buy plastic instead - hang on, is plastic not made from coal and oil, and bad for the environment?
1
11/03/2021 14:58:14 5 10
bbc
Renewables are the way forward.

Period.
41
11/03/2021 16:17:08 1 2
bbc
So last week when renewables in the UK struggled to produce a reliable 1.2GW does make your comment farcical. We need an average of 35GW that excludes heatpumps & EVs

So how do we store 1 weeks of electrical demand in the UK? If you cant even hazard a practical guess then your views are no more than political-science-denial dogma!

Any ideas?
17
11/03/2021 15:26:45 2 2
bbc
This isn't a matter of choice if we don't give up carbon very soon we won't be here to argue about it.
42
11/03/2021 16:19:02 1 2
bbc
Really according to whom? Not the IPCC probable forecasts. Possible if you use one of the early IPCC forecasts that they have abandoned. Do you know who the IPCC is? or what they do?
43
11/03/2021 16:19:44 3 4
bbc
a possible shortage of the stuff needed for battery's plus the danger of nuclear particles and because a few object to fossle fuels the world stops,
44
11/03/2021 16:20:51 2 2
bbc
what about cremations and where does all that energy go.
45
DG
11/03/2021 16:25:23 17 5
bbc
Nobody should bank with HSBC. Banking with HSBC only supports the megalomania of the Chinese government in its main goal, World Dominance.
26
11/03/2021 15:44:01 5 9
bbc
Everyone realises that carbon dioxide represents 0.04% of the atmosphere, don't they? That it's a trace gas, necessary for photosynthesis, and that human activity produces between 6 gigatons and 40 gigatons annually, compared to the 750 gigatons produced naturally (unavoidable burning of underground coal seams). I mean, we do KNOW this, don't we? Because we seem to have become a little hysterical.
46
11/03/2021 16:27:56 4 5
bbc
What is you point? Needles don't break camel's backs? There's not such thing as a tipping point? Flinging around a lot of numbers makes you an expert? Writing in capitals does make you clever?
70
11/03/2021 18:05:48 2 2
bbc
None of the above, and what is YOUR point? Sorry to use capitals again for emphasis, but there's no enabling italics.
25
11/03/2021 15:43:39 9 3
bbc
You know it's cheaper to generate electricity from renewables than coal in the UK already. Cost reduction for renewables should scale a lot better than cost reduction for extracting from underground (better techniques offset by having to dig deeper etc). Also the sooner we invest and prioritise renewables sector the more that is based in UK over the next decades...
47
11/03/2021 16:32:31 2 1
bbc
How efficient and how much electricity does a wind turbine produce when there is no wind? Or in more relatable terms, how many kettles does that boil?
106
12/03/2021 01:07:30 0 0
bbc
The power we use now is not efficient & there's always wind somewhere around the UK so when we have windmills all around at large scale there will be enough for quite a few kettles & it will be producing when we're not using so electrolysis will give good energy for steel-making.
48
col
11/03/2021 16:34:14 7 3
bbc
really? scientists need to get a move on then. Apart for the chemical processes and heat it is used for in making steel and other alloys coal is used in Plastics, roofing, linoleum, synthetic rubber, insecticides, paint products, medicines, solvents, synthetic fibres etc.
with carbon capture the use of coal can be made clean, possibly cleaner than the processes that replace it.

think, then jump.
92
11/03/2021 21:01:48 1 1
bbc
BEIS parliamentary select committee have heard how the heat to make steel can be found without fossil fuel - we have to hold the MPs toaccount before they take the wrong route.
49
11/03/2021 16:35:43 8 14
bbc
As a shareholder in HSBC I will vote against this nonsense. When I invest in a company, I expect it to focus solely on delivering good returns to shareholders. Maybe if HSBC did that, instead of jumping on every passing bandwagon of trendy good-causes, it could improve on the miserable returns that has delivered to its shareholders in recent years.
60
11/03/2021 17:20:44 5 1
bbc
Try Lloyds, even worse returns and the share price is rubble.
65
11/03/2021 17:49:50 2 2
bbc
That's the spirit. Carry on ignoring the fact that in many countries coal is already more expensive than renewables for generating electricity. And is a proven cause of tens of thousands of respiratory deaths worldwide every year.
Those risks are now being priced in, so HSBC are being sensible. Thanks to more sensible shareholders than your good self.
67
11/03/2021 17:56:27 2 3
bbc
Well done you for favouring short-term gains over long-term disasters.

Do you get your car looked at when you sense the brakes starting to fail, or do you just keep driving until you crash?
69
11/03/2021 17:57:12 2 3
bbc
You willingly invest in a bank that gives "miserable returns", and youre criticising the bank??
50
11/03/2021 16:43:04 6 4
bbc
2040 eh? Why not the day after tomorrow? Or indeed, twenty years ago?
51
col
11/03/2021 16:43:25 7 6
bbc
Imagine 30 years into the future,

Carbon capture is common. companies are actually using carbon taken from the air to manufacture products(it can already be done)

Coal is now carbon neutral

meanwhile in order to produce the chemicals to replace those derived from coal & oil half the planets surface has been planted with non food crops.

wars over food kill millions.

happy you defunded coal?
52
11/03/2021 16:50:59 4 4
bbc
Er, and you think we should work on this assumptive bit of wishful thinking?

With the same clarity of thought as you've employed here, we'd have not bothered to develop solar or wind power generation.....because 30yr ago, nuclear fusion was going to provide for ALL our energy needs.

Happy about taking a non-precautionary approach?
51
col
11/03/2021 16:43:25 7 6
bbc
Imagine 30 years into the future,

Carbon capture is common. companies are actually using carbon taken from the air to manufacture products(it can already be done)

Coal is now carbon neutral

meanwhile in order to produce the chemicals to replace those derived from coal & oil half the planets surface has been planted with non food crops.

wars over food kill millions.

happy you defunded coal?
52
11/03/2021 16:50:59 4 4
bbc
Er, and you think we should work on this assumptive bit of wishful thinking?

With the same clarity of thought as you've employed here, we'd have not bothered to develop solar or wind power generation.....because 30yr ago, nuclear fusion was going to provide for ALL our energy needs.

Happy about taking a non-precautionary approach?
53
11/03/2021 16:59:46 1 1
bbc
You are working on a science denying dogma.

The IPCC threw out the rpc8.5 model years ago, they even rebuked 2000 research articles (so a lot more peer reviews & researchers) who used the rpc8.5 as BAU!

So Thersites would you care to rephrase your post in a more probable forecast that the IPCC supports. Or is your alarmists view proof against facts & science
91
11/03/2021 20:56:54 1 1
bbc
You can go to Centre for Alternative Technology cat.org.uk ~ Online Zero Carbon Britain Course (free) exploring climate solutions. The science says we must, the technology says we can, time to say we will! It's a question of realising it's time to change your mind-set & freshen up!
52
11/03/2021 16:50:59 4 4
bbc
Er, and you think we should work on this assumptive bit of wishful thinking?

With the same clarity of thought as you've employed here, we'd have not bothered to develop solar or wind power generation.....because 30yr ago, nuclear fusion was going to provide for ALL our energy needs.

Happy about taking a non-precautionary approach?
53
11/03/2021 16:59:46 1 1
bbc
You are working on a science denying dogma.

The IPCC threw out the rpc8.5 model years ago, they even rebuked 2000 research articles (so a lot more peer reviews & researchers) who used the rpc8.5 as BAU!

So Thersites would you care to rephrase your post in a more probable forecast that the IPCC supports. Or is your alarmists view proof against facts & science
54
11/03/2021 17:00:38 7 9
bbc
disagree with hsbc
If coal makes money then invest or dont if it does not
I want a return
2
11/03/2021 15:04:11 3 10
bbc
Britain wants to bring back coal in order to pander to Red Wall voters.

The environment doesn't come into it.
55
11/03/2021 17:03:09 1 1
bbc
Is there anyone who is more leftwing than you?
9
11/03/2021 15:18:14 20 1
bbc
Given the headline you could be forgiven for mistaking that HSBC was in the business of lending coal and not money.
56
11/03/2021 17:05:15 11 1
bbc
Ah, seems like the penny has dropped in the BBC editorial department and they've now changed it to financing instead of lending.
19
11/03/2021 15:29:07 4 5
bbc
Feel free to go and protest in Tiananmen Square or Red Square and let us know how you get on by postcard, that's if they allow postcards to be sent from their prisons.
57
11/03/2021 17:07:39 1 2
bbc
I think it will be protests in Australia rather than in China as China is the leader in alternative energy sources such as solar & other renewables, and would be happy to reduce coal imports.
It is Australia which depends on exports of coal to China and Australia the largest coal exporter in the world by far. Most to China for steel production and that is reducing as well.
61
11/03/2021 17:37:34 2 1
bbc
Nonsense, China mined 3.84 billion tonnes of coal last year, Australia 510 million.
112
12/03/2021 09:19:10 0 0
bbc
So wrong on so many aspects.

China produces over 1TW of coal energy which is more than the renewables
58
11/03/2021 17:10:38 17 3
bbc
2040? isnt that 19 years away?

LOOOOOL!!!!
59
11/03/2021 17:19:15 6 2
bbc
Greening Up... don't tell China ?
49
11/03/2021 16:35:43 8 14
bbc
As a shareholder in HSBC I will vote against this nonsense. When I invest in a company, I expect it to focus solely on delivering good returns to shareholders. Maybe if HSBC did that, instead of jumping on every passing bandwagon of trendy good-causes, it could improve on the miserable returns that has delivered to its shareholders in recent years.
60
11/03/2021 17:20:44 5 1
bbc
Try Lloyds, even worse returns and the share price is rubble.
57
11/03/2021 17:07:39 1 2
bbc
I think it will be protests in Australia rather than in China as China is the leader in alternative energy sources such as solar & other renewables, and would be happy to reduce coal imports.
It is Australia which depends on exports of coal to China and Australia the largest coal exporter in the world by far. Most to China for steel production and that is reducing as well.
61
11/03/2021 17:37:34 2 1
bbc
Nonsense, China mined 3.84 billion tonnes of coal last year, Australia 510 million.
62
11/03/2021 17:39:45 10 4
bbc
HSBC: Hype, Sleaze, Bribery and Corruption. This decision is entirely in keeping with HSBC's so called "culture".
63
11/03/2021 17:41:31 4 2
bbc
I thought it stood for "Hot Sex Behind the Counter".
62
11/03/2021 17:39:45 10 4
bbc
HSBC: Hype, Sleaze, Bribery and Corruption. This decision is entirely in keeping with HSBC's so called "culture".
63
11/03/2021 17:41:31 4 2
bbc
I thought it stood for "Hot Sex Behind the Counter".
64
11/03/2021 17:36:49 10 3
bbc
Presumably investment in global warming fossil fuels does not give such a good return as money laundering and propping up genocidal governments.
49
11/03/2021 16:35:43 8 14
bbc
As a shareholder in HSBC I will vote against this nonsense. When I invest in a company, I expect it to focus solely on delivering good returns to shareholders. Maybe if HSBC did that, instead of jumping on every passing bandwagon of trendy good-causes, it could improve on the miserable returns that has delivered to its shareholders in recent years.
65
11/03/2021 17:49:50 2 2
bbc
That's the spirit. Carry on ignoring the fact that in many countries coal is already more expensive than renewables for generating electricity. And is a proven cause of tens of thousands of respiratory deaths worldwide every year.
Those risks are now being priced in, so HSBC are being sensible. Thanks to more sensible shareholders than your good self.
66
11/03/2021 17:54:53 1 8
bbc
FAR too slow. They will never get my custom until they quicken the pace.
49
11/03/2021 16:35:43 8 14
bbc
As a shareholder in HSBC I will vote against this nonsense. When I invest in a company, I expect it to focus solely on delivering good returns to shareholders. Maybe if HSBC did that, instead of jumping on every passing bandwagon of trendy good-causes, it could improve on the miserable returns that has delivered to its shareholders in recent years.
67
11/03/2021 17:56:27 2 3
bbc
Well done you for favouring short-term gains over long-term disasters.

Do you get your car looked at when you sense the brakes starting to fail, or do you just keep driving until you crash?
68
11/03/2021 17:56:56 12 2
bbc
Damn .. I was about to apply for a bank loan to build a coal shed in my back yard.
49
11/03/2021 16:35:43 8 14
bbc
As a shareholder in HSBC I will vote against this nonsense. When I invest in a company, I expect it to focus solely on delivering good returns to shareholders. Maybe if HSBC did that, instead of jumping on every passing bandwagon of trendy good-causes, it could improve on the miserable returns that has delivered to its shareholders in recent years.
69
11/03/2021 17:57:12 2 3
bbc
You willingly invest in a bank that gives "miserable returns", and youre criticising the bank??
77
11/03/2021 18:47:12 1 1
bbc
That's a valid point, Barry. Which I'm happy to address.

The UK's punitive regime of Capital Gains Tax, with no taper allowance, means that investments built up over many years can't be quickly liquidated and moved into a more efficient and more deserving home. To do so would incur a large CGT liability.

This also illustrates how CGT contributes to economic inefficiency.
46
11/03/2021 16:27:56 4 5
bbc
What is you point? Needles don't break camel's backs? There's not such thing as a tipping point? Flinging around a lot of numbers makes you an expert? Writing in capitals does make you clever?
70
11/03/2021 18:05:48 2 2
bbc
None of the above, and what is YOUR point? Sorry to use capitals again for emphasis, but there's no enabling italics.
71
11/03/2021 18:11:00 11 2
bbc
years ago when everyone burned coal, recycled bottles including milk, every day.
Meat was wrapped in paper, fish & chips in newspaper & nappies were washed by hand
UK population 40m

Now, no glass bottles, disposable nappies, lead free petrol & paint, LED light bulbs, no CFCs & have wind farms, yet the planet is warming up - UK population around 70m!!

anyone see the problem yet?
74
11/03/2021 18:39:19 6 3
bbc
I think you've hit the nail on the head, Sparky.
Coal is not the problem. Humans are.
72
11/03/2021 18:19:38 1 2
bbc
Phase out coal financing by 2040 is this the best they can do?
China has the highest installed capacity of coal power plants in the world.
As of January 2021, it operated coal plants with a combined capacity of 1,042.9 gigawatts probably all to do with this.
73
11/03/2021 18:26:56 4 3
bbc
2040 ??????????????????????????????????
71
11/03/2021 18:11:00 11 2
bbc
years ago when everyone burned coal, recycled bottles including milk, every day.
Meat was wrapped in paper, fish & chips in newspaper & nappies were washed by hand
UK population 40m

Now, no glass bottles, disposable nappies, lead free petrol & paint, LED light bulbs, no CFCs & have wind farms, yet the planet is warming up - UK population around 70m!!

anyone see the problem yet?
74
11/03/2021 18:39:19 6 3
bbc
I think you've hit the nail on the head, Sparky.
Coal is not the problem. Humans are.
75
11/03/2021 18:41:23 3 4
bbc
By when exactly?

I plan to be healthy in 2040 when I'm 70

Some timescales literally mean nothing

BJ plans to pay of the C19 debt in 2160 (he doesn't but he may as well say it)

This is of no use to mankind whatsoever
76
11/03/2021 18:46:59 3 1
bbc
This is a complex problem and time is running out. We need action now but simplistic, binary arguments do not help. We have just about rid ourselves of thermal coal use, for power at least. Chemical coal usage needs to decline not stop - alternatives e.g. for steel, are just not ready: https://www.mckinsey.com/industries/metals-and-mining/our-insights/decarbonization-challenge-for-steel
69
11/03/2021 17:57:12 2 3
bbc
You willingly invest in a bank that gives "miserable returns", and youre criticising the bank??
77
11/03/2021 18:47:12 1 1
bbc
That's a valid point, Barry. Which I'm happy to address.

The UK's punitive regime of Capital Gains Tax, with no taper allowance, means that investments built up over many years can't be quickly liquidated and moved into a more efficient and more deserving home. To do so would incur a large CGT liability.

This also illustrates how CGT contributes to economic inefficiency.
78
11/03/2021 19:15:39 2 2
bbc
Except most pollution which is causing cancer in humans is coming from the oil / petrochemical industry not coal
79
11/03/2021 19:19:05 7 1
bbc
Is this the same HSBC that was money laundering for mexican drug cartels?

The same pathetic HSBC that should have had its US market financial licence revoked!

https://www.theguardian.com/business/2012/jul/17/hsbc-executive-resigns-senate
80
11/03/2021 19:21:11 2 2
bbc
So it's going to be good old super safe nuclear power to supply all the new world of electric cars and bikes. What could possibly go wrong?
81
11/03/2021 19:25:43 4 2
bbc
Higher interest for the everyday saver would be more useful or are loyal customers irrelevant now?
82
Rob
11/03/2021 19:36:17 1 2
bbc
Shame they wont phase out supporting the human rights abusing Chinese money and control
83
11/03/2021 19:57:53 3 2
bbc
Great. Just means returns on coal lending investments will rise as the big lenders are playing games for popularity with a political movement rather than investing for the best returns.

Investment, banking, should only consider returns, security, etc.
84
11/03/2021 19:58:49 1 1
bbc
So they’ll stop investing in coal once climate change is causing a worldwide catastrophe? Bankers are such nice people.
38
11/03/2021 16:10:14 2 4
bbc
Ashface seems to be one of the alarmists who havent seen that his views are **not** supported by the IPCC probable forecasts.

Some of the pressure will create new solutions and push technology forward. I worry that the eco-mob will not be happy with the progress as too many seem to want political change rather than improvement
85
11/03/2021 20:07:55 1 3
bbc
The IPCC has been criticized for "consistently underestimating the pace and impacts of global warming" and that "temperatures and sea levels have been rising at or above the maximum rates proposed during IPCC's 2001 Third Assessment Report." and that "previous estimates by the IPCC, far from overstating dangers and risks, have actually understated them." Go back to sleep.
111
12/03/2021 09:16:52 0 0
bbc
IPCC has been criticized for "consistently underestimating the pace and impacts of global warming" .... Only by the Alarmists like XR & a handful of dodgy academics who where criticized by the IPCC for misrepresenting the risks.

IPCC have progressed a lot since 2001 and it was 2013 that they dropped their worst cases as being too improbable. Or are you saying that the IPCC should be ignored?
86
11/03/2021 20:11:06 2 2
bbc
An alternative wording of this announcement is "HSBC is advising it's clients to bring forward plans for coal production and use before the policies of even the most vocal of Climate Change denying governments become untenable"
87
11/03/2021 20:22:07 1 3
bbc
Why do the UN and other governments not see the real problem that lies behind all of these issues. Or do they see it but talking about it is too difficult?

There are too many humans on the planet and no amount of recycling will solve that. Energy usage will rise, consumption will rise, everything will rise.

Solve the over population issue and we can start to point in the right direction
89
11/03/2021 20:41:12 2 3
bbc
Yes indeed. If there hadn't been a one child policy in China since 1980 it doesn't bear thinking about. This finished a few years ago with a widening gender imbalance. Value women's lives more, & live social justice.
94
11/03/2021 21:00:47 1 2
bbc
Does a virus not redress the balance of humans
96
11/03/2021 21:15:55 1 1
bbc
Virtually all developed economies have a birth rate of less than 2.1 per woman, the level required to maintain a population, and it's very much a downward trend in virtually every other country as education levels improve. Some estimates suggest population will peak as early as 2028. The real problem will be caring for an aging population.
88
11/03/2021 20:39:41 3 2
bbc
2040? ! ?

Take your time HSBC, the climate will wait.
87
11/03/2021 20:22:07 1 3
bbc
Why do the UN and other governments not see the real problem that lies behind all of these issues. Or do they see it but talking about it is too difficult?

There are too many humans on the planet and no amount of recycling will solve that. Energy usage will rise, consumption will rise, everything will rise.

Solve the over population issue and we can start to point in the right direction
89
11/03/2021 20:41:12 2 3
bbc
Yes indeed. If there hadn't been a one child policy in China since 1980 it doesn't bear thinking about. This finished a few years ago with a widening gender imbalance. Value women's lives more, & live social justice.
90
11/03/2021 20:45:09 0 2
bbc
HSBC are leaving the country as we have left Europe. I’m sure that was the deal.
52
11/03/2021 16:50:59 4 4
bbc
Er, and you think we should work on this assumptive bit of wishful thinking?

With the same clarity of thought as you've employed here, we'd have not bothered to develop solar or wind power generation.....because 30yr ago, nuclear fusion was going to provide for ALL our energy needs.

Happy about taking a non-precautionary approach?
91
11/03/2021 20:56:54 1 1
bbc
You can go to Centre for Alternative Technology cat.org.uk ~ Online Zero Carbon Britain Course (free) exploring climate solutions. The science says we must, the technology says we can, time to say we will! It's a question of realising it's time to change your mind-set & freshen up!
114
12/03/2021 09:27:39 0 0
bbc
CAT is on the alarmist side, always has before it officially formed.
Most, not all, of what they do is below the standard of a-levels so not really the pinnacle of science. And yes I have visited CAT over the years & like the place for its simple introduction aimed at kids.
48
col
11/03/2021 16:34:14 7 3
bbc
really? scientists need to get a move on then. Apart for the chemical processes and heat it is used for in making steel and other alloys coal is used in Plastics, roofing, linoleum, synthetic rubber, insecticides, paint products, medicines, solvents, synthetic fibres etc.
with carbon capture the use of coal can be made clean, possibly cleaner than the processes that replace it.

think, then jump.
92
11/03/2021 21:01:48 1 1
bbc
BEIS parliamentary select committee have heard how the heat to make steel can be found without fossil fuel - we have to hold the MPs toaccount before they take the wrong route.
113
12/03/2021 09:22:24 0 0
bbc
Just because it is theoretically possible doesnt mean that it is viable. 2035 seems to be the earliest **if** the pilot project works without any issue.

There is no reason why new processes shouldnt be explored & researched.
93
You
11/03/2021 21:02:19 0 2
bbc
Woo
87
11/03/2021 20:22:07 1 3
bbc
Why do the UN and other governments not see the real problem that lies behind all of these issues. Or do they see it but talking about it is too difficult?

There are too many humans on the planet and no amount of recycling will solve that. Energy usage will rise, consumption will rise, everything will rise.

Solve the over population issue and we can start to point in the right direction
94
11/03/2021 21:00:47 1 2
bbc
Does a virus not redress the balance of humans
95
11/03/2021 21:11:32 4 2
bbc
HSBC are asking us all not to use their services for 20 years. Sounds like a fair request to me.
87
11/03/2021 20:22:07 1 3
bbc
Why do the UN and other governments not see the real problem that lies behind all of these issues. Or do they see it but talking about it is too difficult?

There are too many humans on the planet and no amount of recycling will solve that. Energy usage will rise, consumption will rise, everything will rise.

Solve the over population issue and we can start to point in the right direction
96
11/03/2021 21:15:55 1 1
bbc
Virtually all developed economies have a birth rate of less than 2.1 per woman, the level required to maintain a population, and it's very much a downward trend in virtually every other country as education levels improve. Some estimates suggest population will peak as early as 2028. The real problem will be caring for an aging population.
115
12/03/2021 09:35:52 0 0
bbc
The WHO gives a 50% chance that the world population might peak at 11billion by 2100. This also means that there is a 50% chance at it will exceed the 11 billion.

Your 2.1 children/women is a summary figure. Certain larger segments of society is 1.6 which highlights the issue.

Its the world populations need for energy & steel thats the issue. HSBC will cause more poverty & hardship.
97
11/03/2021 21:51:50 0 1
bbc
empty promise and smoke screens

wasent it that coal will be phased out in the UK by 2030 and according to the Paris Agreement by 2040 anyways, no finance needed after that or risk taken
98
11/03/2021 21:57:41 0 1
bbc
Having seen what SpaceX can do with methane, I'm looking forward to the day when our heritage railways can run on it instead of coal. Fortunately the railways don't normally need to land from any significant altitude. It's only recently that Mallard's speed record has been surpassed on the UK rail network - methane generated steam might restore that record to the steam engine.
99
11/03/2021 22:13:37 1 1
bbc
China will not adhere !
100
11/03/2021 22:31:04 3 2
bbc
2040??? Surely this should be by 2022