The UK's advertising regulator has banned two HSBC advertisements for being "misleading" about the company's work to tackle climate change. The Advertising Standards Authority (ASA) said the banking giant can no longer run the ads which promoted its plans to reduce harmful emissions as the ads "omitted significant information about HSBC's contribution to carbon dioxide and greenhouse gas emissions." This decision is ASA's first action against a bank for "greenwashing" and comes after the organisation Adfree Cities reported the ads in November 2021. The adverts were seen at bus stops in London and Bristol last October, in the lead-up to the United Nations COP26 climate change summit. Quite a timing! The posters outlined HSBC's efforts to plant trees and help its customers achieve "net zero" emissions. One poster showed an image of waves crashing on a shore with text that said "Climate change doesn't do borders. Neither do rising sea levels. That's why HSBC is aiming to provide up to $1 trillion in financing and investment globally to help our clients transition to net zero". The other advert was of tree growth rings and text which read "Climate changes doesn't do borders. So in the UK, we're helping to plant 2 million trees which will lock in 1.25 million tonnes of carbon over their lifetime". The Advertising Standards Authority added that: "Customers... would not expect that HSBC, in making unqualified claims about its environmentally beneficial work, would also be simultaneously involved in the financing of businesses which made significant contributions to carbon dioxide and other greenhouse gas emissions." A great decision, let's hold big banks accountable for what they communicate about, they need to walk the talk! https://adfreecities.org.uk/2022/10/hsbc-adverts-banned-for-missing-detail-on-fossil-fuel-financing/ https://www.bbc.com/news/business-63309878