5th July 2023
All plastic producers rely on investment from banks and pension funds etc to continue to expand their operations. The Just Money Movement’s director, Sarah Edwards, says, “We are called to care for God’s creation but the way we produce and dispose of plastics is fuelling the climate crisis, polluting oceans, and endangering people’s health. Many individuals and church communities are taking steps to cut down on single-use plastics, but major High Street banks continue to invest in the crisis we’re trying so hard to tackle. HSBC is the largest bank in the UK and has a responsibility to take urgent action to address the crisis” the Just Money Movement is running a campaign HSBC to:
- set targets for reducing financed emissions in the plastics industry as part of HSBC’s climate strategy.
- withdraw from financing the expansion of single-use plastic production.
- engage with companies that use plastics intensively (notably, plastic packaging) to reduce their consumption of plastics at source in absolute terms and invest in business models to achieve this.
- urgently scale up finance to companies providing solutions to address overconsumption of plastics at source, such as reuse systems.
You can support the campaign by signing their open letter – https://justmoney.org.uk/speak-out/dont-bank-on-plastics/
The Green Tau 