HSBC Advertisements Banned For Misleading Climate Information

HSBC, the largest bank in Europe, debuted two advertisements that have now been banned due to omitting information about its contribution to carbon dioxide and greenhouse gas emissions. The ads focused on the company’s green transition but failed to account for its responsibility for pollution.

Source: Sky News/YouTube

The posters could be seen on bus stops in Bristol and London in October 2021 and showed images of waves crashing and tree growth rings with the words, “Climate change doesn’t do borders.”

The poster claimed that it was HSBC’s goal to give up to £880bn ($1trn) in financing and investment to help their clients transition to net zero while also helping plant two million trees in the UK to lock in carbon.

People complained to the Advertising Standards Authority (ASA), sayings that the advertisements were misleading because they did not mention that HSBC themselves have significantly contributed to the climate crisis. The ASA ruled that the ads were misleading.

“We concluded that the ads omitted material information and were therefore misleading,” the ASA said.

We hope that the ruling will warn other companies to be transparent with their climate goals.

An HSBC UK spokesperson said, “The financial sector has a responsibility to communicate its role in the low carbon transition to raise public awareness and engage its customers, so we will consider how best to do this as we deliver our ambitious net zero commitments.”

“Green hushing” is also becoming more and more common as companies are choosing not to publicize their climate goals to avoid scrutiny and allegations of greenwashing.

There are so many companies that greenwash, so it’s not surprising that the public is skeptical about companies’ climate goals. It’s hard to know if they are doing it to help the planet or just to increase their profit. As long as companies are transparent with their steps and progress, they can’t go wrong. There’s a sweet spot that companies can hit in terms of their sustainability communication with the public, they just have to try to find it!

Related Content:

• Green Hushing: Companies Are Choosing Not to Share Their Climate Goals to Avoid Scrutiny
• McDonald’s Net Zero Location Accused of Greenwashing
• New Study Warns ‘Greenwashing’ is Widespread Among Online Retailers
• 5 Ways to Spot Greenwashing
• Infographic: Greenwashing Exposed

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