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hsbc postpones climate targets to 2050 amid slow decarbonization progress

HSBC Holdings Plc has postponed its climate targets to 2050, citing slow global decarbonization efforts as a significant barrier. The bank aims to reduce scope 1 and 2 emissions by over 90% from 2019 levels by 2030, while targeting a 40% reduction in scope 3 emissions related to operations, travel, and supply chain. Factors affecting progress include technological advancements, energy diversification, and varying government policies.
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