HSBC net zero goal delayed 20 years, as CEO offered 600% bonus

Bank is criticised for pushing climate targets to 2050 and watering down environmental goals

HSBC has been criticised after it delayed key parts of its climate goals by 20 years, while watering down environmental targets in a new long-term bonus plan for its chief executive, Georges Elhedery, that could be worth up to 600% of his salary.

The London-headquartered lender said it was reviewing its net zero emissions policies and targets - which are split between its own operations and those of the clients it finances - after realising its clients and suppliers had seen more challenges" in cutting their carbon footprint than expected.