CHRISTIAN campaigning organisation, JustMoney Movement, is attending HSBC’s AGM in London today (Friday 3 May), calling on the bank to take urgent action on the global plastics crisis. The AGM is taking place at InterContinental London O2, where the bank’s board and senior executives will face questions from shareholders.

Sarah Edwards, JustMoney Movement’s Director, said: “As part of our Don’t Bank on Plastics campaign, we attended HSBC’s AGM last year, asking the bank to stop financing single-use plastics and to scale up investment in solutions to plastic pollution. Plastics are now mentioned within HSBC’s climate strategy, but the bank needs to take further action to stop the expansion of single-use plastic production which fuels the climate crisis and puts lives at risk. We are returning this year to hold HSBC to account on its commitments. AGM activism is a tool we can use to help shape a fairer, greener banking sector.”

The Rev Paul Regan, a retired Methodist minister and JustMoney Movement supporter, will also be attending and asking a question about the need for improved provision of banking services for churches and charities. In March 2024, the Charity Commission found that 42 per cent of trustees surveyed said their charity experienced poor service from their banks in the last 12 months.

Rosie Venner, JustMoney Movement’s Money Makes Change Programme Manager said: “HSBC’s continued financing of companies that are fueling the climate and biodiversity crises is deeply concerning for individuals and congregations who care about climate justice. Furthermore, we know from conversations with our supporters that poor customer service, increased fees and local branch closures have a real impact on churches trying to manage their finances and serve their communities amidst a cost-of-living crisis. Churches that want to bank in line with their values are starting to leave HSBC in search of banks that put people and planet first.”

JustMoney Movement is an ecumenical Christian charity campaigning and educating around the just and fair use of money. It produces a Fairer Greener Banking Guide, which reviews ethical banks suitable for churches and charities.

* The Fairer, Greener Banking Guide is available to download here.

* Source: Just Money Movement