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Financing Drummond in Colombia: Is HSBC Risking Sustainability Goals? |
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INTRODUCTION |
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In April 2016, campaigners and shareholders in global banking giant HSBC Holdings plc (HSBC) grilled Stuart Gulliver (Gulliver), HSBC Group Chief Executive, at the annual general meeting (AGM) on the bank’s £3.7 billion investments in Drummond Limited, a Colombian coal mining company accused of murder and human rights abuses.
Just a month earlier, HSBC had received accreditation to work with the United Nations’ Green Climate Fund (GCF) in response to its commitment to develop and implement environmental standards for its funding projects.....
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