Beautiful Virgin Islands

Monday, Jul 21, 2025

'Misleading' HSBC net zero adverts banned for glossing over own responsibility for pollution

'Misleading' HSBC net zero adverts banned for glossing over own responsibility for pollution

The Advertising Standards Authority said the basis of environmental claims must be clear and that unqualified claims could mislead if they omitted significant information.

Two adverts from HSBC publicising its role in the green transition have been banned for omitting information about its own contribution to carbon dioxide and greenhouse gas emissions.

The posters, seen on bus stops in Bristol and London in October 2021, showed images of waves crashing on a shore and tree growth rings with the phrase: "Climate change doesn't do borders."

They detailed that HSBC aimed to provide up to £880bn ($1trn) in financing and investment globally to help its clients transition to net zero, and helping to plant two million trees in the UK to lock in 1.25 million tonnes of carbon over their lifetime.

A HSBC advert in London


Some 45 people complained to the Advertising Standards Authority (ASA), with some arguing that they were misleading because they failed to mention significant information about HSBC's contribution to the climate crisis.

HSBC UK said the financing of greenhouse gas-emitting industries was required during the transition to net zero, and so their continued financing of those industries was not in conflict with the aims of a transition to net zero.

The ASA said the basis of environmental claims must be clear and that unqualified claims could mislead if they omitted significant information.

"We concluded that the ads omitted material information and were therefore misleading," the ASA said in a ruling.

The regulator ruled that "future marketing communications featuring environmental claims were adequately qualified and did not omit material information about its contribution to carbon dioxide and greenhouse gas emissions".

As a business, HSBC said it aimed for a 34% reduction in absolute oil and gas financed emissions and a 75% reduction in financed emissions intensity for the power and utilities sector by 2030.

They planned to phase out their financing of thermal coal by 2030 in the European Union and Organisation for Economic Co-operation and Development (OECD) countries, and by 2040 in the rest of the world.

A HSBC advert in Bristol


Campaigners hope the ruling will set a precedent for other adverts from the finance sector.

Robbie Gillett from campaign group Adfree Cities, who led the complaint, called it a "significant moment in the fight to prevent banks from greenwashing their image".

"HSBC can no longer ply us with ads pretending they are green while continuing to bankroll climate breakdown in the background," he said.

A HSBC UK spokesperson said: "The financial sector has a responsibility to communicate its role in the low carbon transition to raise public awareness and engage its customers, so we will consider how best to do this as we deliver our ambitious net zero commitments."

Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Man Dies After Being Pulled Into MRI Machine Due to Metal Chain in New York Clinic
NVIDIA Achieves $4 Trillion Valuation Amid AI Demand
US Revokes Visas of Brazilian Corrupted Judges Amid Fake Bolsonaro Investigation
U.S. Congress Approves Rescissions Act Cutting Federal Funding for NPR and PBS
North Korea Restricts Foreign Tourist Access to New Seaside Resort
Brazil's Supreme Court Imposes Radical Restrictions on Former President Bolsonaro
Centrist Criticism of von der Leyen Resurfaces as she Survives EU Confidence Vote
Judge Criticizes DOJ Over Secrecy in Dropping Charges Against Gang Leader
Apple Closes $16.5 Billion Tax Dispute With Ireland
Von der Leyen Faces Setback Over €2 Trillion EU Budget Proposal
UK and Germany Collaborate on Global Military Equipment Sales
Trump Plans Over 10% Tariffs on African and Caribbean Nations
Flying Taxi CEO Reclaims Billionaire Status After Stock Surge
Epstein Files Deepen Republican Party Divide
Zuckerberg Faces $8 Billion Privacy Lawsuit From Meta Shareholders
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
SpaceX Nears $400 Billion Valuation With New Share Sale
Microsoft, US Lab to Use AI for Faster Nuclear Plant Licensing
Trump Walks Back Talk of Firing Fed Chair Jerome Powell
Zelensky Reshuffles Cabinet to Win Support at Home and in Washington
"Can You Hit Moscow?" Trump Asked Zelensky To Make Putin "Feel The Pain"
Irish Tech Worker Detained 100 days by US Authorities for Overstaying Visa
Dimon Warns on Fed Independence as Trump Administration Eyes Powell’s Succession
Church of England Removes 1991 Sexuality Guidelines from Clergy Selection
Superman Franchise Achieves Success with Latest Release
Hungary's Viktor Orban Rejects Agreements on Illegal Migration
Jeff Bezos Considers Purchasing Condé Nast as a Wedding Gift
Ghislaine Maxwell Says She’s Ready to Testify Before Congress on Epstein’s Criminal Empire
Bal des Pompiers: A Celebration of Community and Firefighter Culture in France
FBI Chief Kash Patel Denies Resignation Speculations Amid Epstein List Controversy
Air India Pilot’s Mental Health Records Under Scrutiny
Google Secures Windsurf AI Coding Team in $2.4 Billion Licence Deal
Jamie Dimon Warns Europe Is Losing Global Competitiveness and Flags Market Complacency
South African Police Minister Suspended Amid Organised Crime Allegations
Nvidia CEO Claims Chinese Military Reluctance to Use US AI Technology
Hong Kong Advances Digital Asset Strategy to Address Economic Challenges
Australia Rules Out Pre‑commitment of Troops, Reinforces Defence Posture Amid US‑China Tensions
Martha Wells Says Humanity Still Far from True Artificial Intelligence
Nvidia Becomes World’s First Four‑Trillion‑Dollar Company Amid AI Boom
U.S. Resumes Deportations to Third Countries After Supreme Court Ruling
Excavation Begins at Site of Mass Grave for Children at Former Irish Institution
Iranian President Reportedly Injured During Israeli Strike on Secret Facility
EU Delays Retaliatory Tariffs Amid New U.S. Threats on Imports
Trump Defends Attorney General Pam Bondi Amid Epstein Memo Backlash
Renault Shares Drop as CEO Luca de Meo Announces Departure Amid Reports of Move to Kering
Senior Aides for King Charles and Prince Harry Hold Secret Peace Summit
Anti‑Semitism ‘Normalised’ in Middle‑Class Britain, Says Commission Co‑Chair
King Charles Meets David Beckham at Chelsea Flower Show
If the Department is Really About Justice: Ghislaine Maxwell Should Be Freed Now
NYC Candidate Zohran Mamdani’s ‘Antifada’ Remarks Spark National Debate on Political Language and Economic Policy
×