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HSBC HOLDINGS Reportedly Shelves Establishment of Carbon Credit Trading Team
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HSBC HOLDINGS (00005.HK) has shelved plans to set up a carbon credit trading team, and will fade out of the carbon credit trading market, Bloomberg quoted sources as saying. HSBC HOLDINGS started hiring new staff and preparing for the establishment of a carbon credit trading team years ago in response to the upsurge in climate change financing and voluntary carbon credit purchases by large companies, according to the report. At that time, some organizations once criticized the move as “greenwashing” rather than genuinely promoting the development of environmental protection. However, the activity began to quieten last year, and the size of the voluntary carbon market shrank by 25% to about US$1 billion. AAStocks Financial News |
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