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LONDON DAILY ARCHIVE

HSBC Quits Net Zero Banking Alliance

Bank cites legal concerns over competition law compliance

12 July 2025 · 00:43 UTC

HSBC has announced its withdrawal from the Net-Zero Banking Alliance, becoming the first major UK lender to exit the industry group.

The bank said it faced legal constraints under competition law that limited collaboration on climate goals, though it reaffirmed its commitment to achieving net-zero emissions independently.