The news that a resolution designed to get HSBC out of fossil fuels will be voted on at the upcoming AGM has caused quite the stir. And now another major investor has said it will also be voting in favour.
Media around the world have covered the resolution, organised by ShareAction, and it also featured on BBC Radio 4’s Today programme. David Cumming from Aviva Investors was asked for his take on the news and he reported that Aviva would be voting in favour. He also said that he thought the vote wouldn’t be needed, as he expected HSBC to announce improved policies before the AGM in April.
We’ll have to wait and see if HSBC does get ahead of the game and finally turns off the cashflow for oil, coal and gas companies. In the meantime, you can listen to the interview while it’s available on the BBC website – skip ahead to 27m 35s.